In recent year there has been a shift from marketing to a younger population to the senior citizen populations. Recent studies and surveys yielded the same results as to why this maybe taking place within our society. In past years marketers concentrated their efforts on the younger generations. Mainly from ages 25-44. Today we see a shift in marketing from those ages to the age bracket of 55-65. Many ask why this shift occurred? A simple explanation was given on the site entitled, theentrepreneurpage.com, this was that marketers in past decades believed that the elderly population was viewed as a low-income population. Now in recent year the studies that have been produced that yield different results. In fact the 55-65 market save twice as much as the 25-44; have double the spending of the younger market ; and if motivated to spend and buy, purchase more investment properties, new cars; travel more often and buy more of a product that come with a better quality. With all the big investments that this population is taking part in correlates with the fact that marketers are more apt to market products in which the elderly are interested in because there is a higher rate of return from this market rather than a younger market.
Marketers are aware on what aspects to capitalize on with the older generation, these capitalization's may but do not restrict themselves to elderly social activities. This includes relationships with grandchildren and peers connection. It must show the elderly as a companion and not a dependent.
One may inquire about the idea of all technology being marketed towards the younger generation. This is a common misconception as well, the belief that older people are set in their ways has become a misguided belief. The elderly segment group can be motivated to buy new products, services and even technologies.Those over the age of 55 are par taking in technology and paper resources, thus not limiting the market to the younger generations.
Do you feel as though older generations harnesses an untapped market?
