Tuesday 27 April 2010

Generational Marketing - Over 50's

Today's over 50's generation is a more affluent, more dynamic than any other previous generations. As a direct consequence of the 1946-1964 baby boom, the group will grow further, and those entering at the younger end of the generation, will have hopes of continuing the lifestlye they have developed. The majority of the over 50 generation are making ways of making the most out of life, and are seeking to interact with brands and services.



The over 50's generation has seen a huge change in the world.

1932 - The great depression
1939 - WW 2 begins
1945 - WW2 ends
1948 - NHS is started
1955 - Commercial TV begins
1966 - England win the world cup
1969 - Man on the moon
1979 - First female prime minister
1982 - Falklands war
1998 - Northern Ireland peace protest

All these things the over 50's generation has experiened, some more directly than others. However, it's important for marketers to appreciate these things when advertising to them.


Certain products have an affinity with the over 50 age group. Items such as PG Tips, artificial sweeteners, vitamins and supplements, gardening tools and life affurance are synonymous with the older generation and its important that companies know this before they start marketing a product.


Changing attitudes

Research has shown the over 50 age group is getting nearer the national average when it comes to product buying. In 1986, a selection over 50's were asked if they enjoyed eating foreign food and if they exercise at least once a week. These were the results:

1986 2006

I enjoy eating foreign food 55% 83%

I do some form of sport or 75% 94%
exercise at least once a week


Other questions were asked on other things, such as going back to the same place for holidays and how much do they rely on television for information, and on each question there was a considerable increase from 1986-2006.







The five groups

There are five groups that the over 50's are segregated into:

Home is where the heart is - 3.9 mil
You cant take it with you - 5.1 mil
It's time to enjoy - 3.2 mil
Mind, body and soul - 3.8 mil
Secure and sophisticated - 4 mil

Home is where the heart is
The average age of these people is 71, 64% are female and 79% are retired. 51% are married and 33% are widowed. They have trust for institutions and brands, security and reliability are important to them and they are driven by a set of rules and principles, so follow a very stuctured way of life. Brands that they would trust would be: dettol, the sun, flash, iceland and ambrosia.

Secure and sophisticated
The average of these people is 63, 75% are male, 38% are still working and 81% are married.
These people are still financially active, making their higher income work for them. They want to look after their fitness and stay healthy and they are keen to adopt new technology, especially the internet.


Funny video of an oap getting revenge on a frustrated driver:

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