Five years into
the future? I’m lucky if I can predict what I am doing next week!! That being
said, enjoy these prognostications! My first one is that many of you will
wonder if I had to look up that 5 syllable word!
In no particular
order, here is what I’m predicting the funeral profession will look like in 5
years:
• Cremation
Rate: The national cremation rate will hit 57%. No surprise there but I
don’t see this trend changing until the industry starts addressing some of the
underlying issues brought on by the shift in demographics and pricing
strategies. And this requires change, something we have not been very good at.
But we’ll dig into this in more detail in a later blog post.
• Online
Funeral Arrangements: 25% of all funeral arrangements will occur online and
many funeral professionals will discover that this scary proposition delivers
more education and value more easily than when dealing with an actual human at
the funeral home. There is a belief out there that quality funeral service
requires human contact. This will be challenged and new learning will occur.
• New
Business Model: A new business model will emerge that turns the
conventional wisdom of funeral service on its head. It will attack the four
major costs of the industry—people, facilities, advertising and cost of
goods—and dispel the common thinking that these things “are what they are”, and
there is nothing we can do about them.
• Publicly
Owned Companies: There will be two less publicly owned companies. Time will
push people into a corner and grow we must!
• New Major
Player: There will be a brand new major player in the industry, possibly
not related to the funeral profession, that will approach the challenges of
funeral service from a different perspective. I know, I know this has been
predicted or feared for some time but I believe their less conventional way of
doing things will appeal to the critical mass of Baby Boomer decision makers,
creating larger and more attractive opportunities.
• Cost
Sensitivity: 70% of the industry will head down the cost sensitive path. I
am not sure if we will hit rock bottom but there will still be a large
opportunity for firms who believe in supporting the emotional needs of those
touched by death.
• Pre-Need: Pre-Need
will go through a major shift. The current business model is struggling and as
a result appears to be working at odds with the funeral industry. This friction
will come to a head, smart business minds within the funeral profession will
focus on it and new powerful solutions will emerge.
• Victors of
the Future: To the victors go the spoils. The victors of the future will be
champions of change and not afraid of risks. In fact, their battle cry will be
something along the lines of “Fail faster!!”
For the most part
we don’t know what we don’t know, particularly about the future! And I am sure
I have demonstrated that point effectively. But take a look around. The
challenges we see all around us are the seeds of future opportunities. Risk,
Learn, Grow! And in five years we’ll see how we did!
For me i prefer to keep the cremated remains in their personal possession and will select an urn reflective of the deceased as a permanent keepsake.The selection of cremation was the specific choice of the individual before death.When cremation is chosen, the various elements of the funeral rite should be conducted in the usual way and, normally, with the body present.The ordinary practice of Christian burial includes the Vigil Service, the celebration of the Funeral Mass at the Church, and the Rite of Final Commendation at the cemetery.
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