We all have seen how the focus for today's companies has shifted more towards millennials. But, @Nirja also offered us a perspective that how Baby Boomers can be the Profit generating machine.
This gave me a thought on how Baby Boomers are different from Millennials. After a quick search and digging deep, I came across an article which talked about how the preferences and priorities of millennials and baby boomers overlap in terms of banking.
The two key areas where their taste matches are:
- They don't want to just invest in Retirement funds
- They both embrace technology
Hence, for designers, the designs/user experience you create for millennials can resonate with Baby Boomers. For technologists, the technology you develop for Millennials can resonate with Baby Boomers.
This itself can be an example of Prof. Vijay Govindarajan's reverse innovation. His concept identifies the products or services which come from developing markets to developed markets are Reverse Innovation. But, in this case, it's cross-generation.
Eager to know your thoughts on this discovery.
To read the source article please click here.