Products and Services for Single Male Echo Boomers

5 Areas To Consider

Single male Echo Boomers have performed quite well (see What are the characteristics of wealthy Echo Boomers?). They tend to have wealth, and they tend to have concentrated interests. While single male Echo Boomers may have less income than their female counterparts, their concentrated interests reduce their spending overall allowing them to build wealth. Over time, wealth compounds and opens the door to large spending, if desired.

1. Video Games

A growing industry, which performs well among single Echo Boomers in the low income bracket. These Echo Boomers lack the financial power of the other male Echo Boomers, and thus use cheaper forms of entertainment. What's often missing when people look at Echo Boomers who play video games is that these games can involve social activities with friends and are similar to hobbies like fishing. In a sense, video games feel like activities for single male Echo Boomers.

When writing about video games, it is worth mentioning that many video game companies fail. This is also true for platforms - Sega no longer produces a platform. Think about the industry as a whole - not the game or even platform, but everything involved. High demand for successful video games will create a lot of winners in related industries.

2. Sports and the Outdoors

Whether you are looking at fitness or outdoor activities, like hiking, single males tend to seek out these areas. For outdoor activities I would focus financial effort on things like hunting and camping, while for fitness, things like Crossfit, Strongman, et cetera tend to perform quite well for men. Men also make up more gym rats than women (in general), so gyms should still consider that their more consistent demand will be men. Because Echo Boomers are more social, I expect Crossfit and other social fitness groups will do better than many anticipate.

Keep in mind, the cross-selling potential here is massive: single males, who work out, tend to also spend money on nutrition and supplements. Don't miss supplements like protein powder and shakes, energy drinks, and other supplements that Echo Boomers demand. The hobby itself may not be as profitable in the long run as some of these necessities or complementary goods. In addition, some of these supplements have high demand outside of the fitness industry. Red Bull makes a great example of this, as they are extremely successful in both inside and outside the fitness industry.

3. Survivalism and Survival Gear

Some single male Echo Boomers are "out of city" types (ones who move out of the city to be alone), and some are just interested in survival itself. Think about selling products that maximize a person's sustainability without others. For instance, power generators will sell to this group along with any kind of survival gear or livestock. Males like production in general (even male animals do) and anything that allows them to produce more will always be a winner among the male demographic. What's slightly different with male Echo Boomers is how and where you can target this group.

This is a growing demographic among male Echo Boomers; as I discussed financial goals with males, I noticed the trend of young men wanting to exit modern civilization (less than 20%, but greater than 10%). This happens throughout history too; the Roman civilization was founded by young male outcasts from other civilizations.

4. Financial Products

Single male Echo Boomers possess more wealth than their female counterparts. In general, they do not possess more income, but since they spend less than their female counterparts, they accumulate wealth faster. They are more likely to have retirement accounts, own homes and have brokerage accounts. Obtaining business from these single males will be important if the financial industry is where you hope to make money. While innovation has been lacking in the financial industry, if you do innovate, I would start with this group as they are the most likely to be excited about this.

5. Topical Blogs

This references advertising and marketing, as topical blogs do not always make good businesses themselves. Content can be a great business in some cases, but it can vary heavily. But how do you reach single male Echo Boomers with your products and services? Advertising and market your product on topical blogs (or concentrated content). As an example, you can review the demoprahics on one of favorite blogs, Calculated Risk. Notice the percentage of males/females; males tend to read topical blogs, while females tend to read personal or self-help blogs. Obviously there are exceptions, but if you are spending money on advertising, you want to play in favor of the statistics.

Products and Services for Single Female Echo Boomers

Basics

1. Details Matter

I once watched as my significant other purchased a pair of boots on Amazon. She spent three hours looking at the pair of boots. She looked at where the zipper was placed, what the color of the zipper was, how it was attached to the boots, how far up and down the zipper went, and on. She looked at the color of the boots, then compared that color to the colors of her pants. She looked at how the sole of the boot was attached to the rest of the boot. I could go on. She studied those boots for hours. And she bought them. Details matter to female Echo Boomers and they want visual details not descriptive details relative to the product (notice how this product was fashion).

2. Language

Unbeknownst to most fitness readers, most articles for men are also written for women. What differs is wording. Men want to be jacked and ripped. Women want to be toned and lean. Some of the top fitness writers for men have pen names that have almost the exact article for women because all they need to change is the wording, images and a bit of the structure. This applies to every product that overlaps for male and female Echo Boomers. If they'll both demand the product, don't be afraid to have different sales strategies for what will appeal to each.

3. Shopping Experience

This applies more to the "online" businesses than the businesses with shops. Female Echo Boomers want to feel that there is a shopping experience even when they go to your website to purchase a product. Even if you have to mimick a shelf online (remember Amazon doing this with books?), it's worth doing as it feels like a shopping experience. When a person shops at a store, there are often related or identical products from competitors side-by-side. Also, as I noted in Details Matter be aware of showing products with details. Descriptions, reviews, images and anything that allows female Echo Boomers the ability to shop for the product they want.

Six Services That Are Selling And Will Continue To Sell

Among single female Echo Boomers, businesses that specialize in the following six areas will see the most growth. Outside the medical and school systems, which will always be profitable institutions, these areas will help capture the single female Millennial demographic.

1. Home Security

Safety and security are a primary concern of single females, especially Echo Boomers. In sales, the phrase "safety and security" works seven times better for single females than it does for single males. I've spoken with several individuals in the home security industry, and their dominant demographic: single females (one of them told me that married males will buy home security, but her customers were seldom single males). Female Echo Boomers are no exception here; they'll want home security for a place they rent (if allowed) or own.

2. Real Estate

One third of female Echo Boomers express interest in owning a home someday. I would expect that as more single female Echo Boomers become homeowners, more single Echo Boomers will want homes (in other words, we'll see a rising effect as more homeowners influence other potential homeowners). If you look at the current data (below), you'll see that the growth potential here is quite high. Recall, that Generation Y is the second largest generation in American history.

3. Fashion

One of the common jokes about living in West Texas (ie: Midland) was that you never knew who were the wealthy men of the area. You could be talking to a man in worn-out jeans, a dirt-covered jean jacket, and old boots, but the man had 9-digit wealth. Not with women. You knew which women had money because of one word: fashion.

Females of all generations tend to spend large amounts on fashion. And since the fashion world constantly changes, any fashion business you build will have a never-ending crop of customers who constantly need something "new." Could you ask for a better business?

4. Photography

After spending several years speaking with business owners, I learned from photographic studio owners that their major customer were females. Although a low marriage rate might imply that there will be a lack of interest in photography (no family photos, wedding photos, et cetera), single female Echo Boomers will still buy photography for their children (remember single mothers are a profitable group), or various life events, like special parties with friends. Also, Echo Boomers themselves will spend money on photos of themselves. I would expect photography to do well with female Echo Boomers and there's a variety of angles here - selling photography, equipment, et cetera.

5. Religious material

Religious organizations offer the opportunity to cross sell products, such as DVDs, books, et cetera. Material published for single females may have more success among Echo Boomers than Xers or other generations. Of the Echo Boomers I speak to, when reviewing accounts, females are more likely than males to purchase items at religious stores or donate to religious organizations.

6. Travel

Single female Echo Boomers express interest in travel more than single male Echo Boomers.