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Marketing to the Older ConsumerTechniques to target the fastest growing population demographic
Managing Director, 20plus30, UK
There are 20 million people in the UK aged over 50 years old. That’s over 7 million more than in the marketer’s favourite 18-34 age group. In ten years time the 50-plus will outnumber this group by 10 million. When this fact is combined with their huge levels of wealth... read more(over £5 trillion) they become, without question, the most important group of consumers that marketers must understand. The situation is the same in other European countries, the US and Japan.
Because the 50-plus is such a large and diverse group, it is impossible to make generalised comments about their responsiveness to modern marketing techniques. The 50-plus includes people searching for care homes and those for holiday villas. It contains the frail and ill and those with a passion for physical fitness. A fifty year old living and working in a prosperous urban area is very different to somebody of similar age, unemployed and living in a poor rural village.
The aim of this series is to provide marketers with a deep understanding of this group and the latest thinking in the marketing techniques to engage with them as consumers.