Welcome to GN Resound Dispenser Support Services
September, 2008
Older, Richer, Wiser
In the year when Mick Jagger becomes eligible for a bus pass, the mature consumer is big news.
The over 50’s represent the only sector of UK society that is growing and Government statistics predict that by 2020 they will account for half of the population. In addition they own 80% of the country’s wealth.
As significant as the size and spending power of this market however is the change in attitudes that is taking place. As the first baby boomers hit retirement age, the outlook, expectations and lifestyles of the mature consumer are changing rapidly.
The media is awash with tales of grandparents “spending the kids inheritance” on exotic holidays, flash cars and cosmetic surgery. But is this stereotype any more realistic than the previous depiction of a blue rinse, pipe and slippers? And what relevance does either have for the clients who walk through your door?
“Any advertisers who treat the mature market as a single, homogenous group are not just missing the point, they also run a considerable risk of alienating mature consumers by using inappropriate, or even insulting, stereotypes. This is why 86% of people over 50 think most advertising isn’t relevant to them”
Sarah Robson Research & Planning Director Millennium
Maintaining relevance in a diverse and rapidly changing market place is an exciting challenge. As with so much else in life, the first step to meeting the challenge is knowledge.
To find out more download the myths and truths of the over-50’s consumer, here > (PowerPoint 600k)
Don’t forget that most CPD schemes will allocate points for reading relevant journals or white papers. Be sure to include the time you spend reading white papers on your personal CPD log forms.