The world is ageing and so too are consumers

According to Nielsen the ageing population is not being catered for…

Senior Consumers

Senior Consumers

By the year 2050 a massive 2 billion people worldwide will be 60 years and older. Industries are doing little to cater for this aging demographic, in fact quite the opposite is occurring with the ever increasing range of fast moving consumer goods and new fang dangled products and services.

The Nielsen Global Survey about Ageing returned some interesting facts. Consumers are concerned that manufacturers and retailers are doing little to make life easier for us as we get older. Some of the concerns include the need for wider aisles in shopping centres, handicapped accessibility and larger print on packaging.

So, if you are a business operator or marketer how might you be missing out on an opportunity…

Globally we are an aging population which means that the ‘Seniors’ group will have more money to spend. But you won’t capture this spend if you are not targeting your products and marketing to this group. For instance, the Nielsen survey found that more than 4 in 10 cannot find foods that meet their aging nutritional needs, and 51% worldwide find advertising doesn’t reflect the older audience.

These findings should be ringing alarm bells, it’s time to start considering the needs of the ageing population who will become future money spenders and potentially a much larger market than we are ready for.

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