What Marketers Believe About the 50 Consumer

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What Marketers Believe About the 50 Consumer

• And Why Its Time to Think Again

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As the Baby Boomers age, theyll be just like
their parents.
Think Again
Staying Hip Boomers identify more with their
children than they do with their parents
Staying Sexy Single boomers of all ages say
they want to be romantically involved with
someone Staying Edgy Boomers account for more
than half of Harley Davidson sales in the U.S.
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Their buying habits are predictable.
Think Again
Perception Not-your-father's-Accord appearance
draws squinting gawks and jeers from the AARP set
and people not raised on the sounds of Moby.
Reality Honda marketing execs predicted it would
be a hit with the 16-29 age group According to
the Power Information Network, the average median
buyer is 42.
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By the time theyre 50, people have decided what
they like and they stick with it.
Think Again
The Cash People 50 account for 50 of all
consumer spending they spend 3 trillion
annually to the Gen Xers 1 trillion The
Curiosity They are just as likely as younger
adults to experiment or switch brands The Quest
for Quality They are comfortable paying more for
quality goods and services
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Their buying decisions are different.
Think Again

• Looking for Value
• At all ages, most (91) agree that they care
  mostly about valuenot brand name.
• And More Value
• When settling on a brand, 66 agree that the most
  important thing is that it gives good value for
  the money.
• Based on Experience
• Past experience with a brand is a most important
  determinant in whether or not to purchase it
  again (71).

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Theyll buy whatever their kids recommend.
Think Again

• Research, Research, Research
• 62 of all Americans research different brands
  before buyingpeaking among 45-55 year olds
  (68).
• Trust
• 70 of Americans 45 will try (but not
  necessarily switch to) a new brand if recommended
  by someone they trust.
• Always on the Lookout
• About half of 45 adults are always looking for
  better products.

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Their brand behavior is always consistent.
Think Again

• Adults 45 Are Less Brand Loyal When It Comes To
• Vehicles other than cars, stereo equipment,
  computers, cell phones, athletic wear and career
  wear.
• Adults 45 Are Equally Brand Loyal When It Comes
  To
• Skin care, DVD/video players, womens cosmetics
  and skin care
• Adults 45 Are More Brand Loyal When It comes To
• Bath soap, cars and auto parts, large and small
  home appliances, TVs, breakfast cereal, vitamins
  and shoes

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Theyre on fixed incomes and buy on price.
Think Again

• Pocket Change
• Adults 50 in the U.S. control 80 billion in
  discretionary spending, and adults 45 control
  53 of all consumer expenditures.
• An Eye For Luxury
• Adults 45 are more likely to switch to a more
  expensive brand based on utility, reputation for
  quality or comes from a competitor theyve bought
  from before.
• And Willing to Spend
• Prince considerations are more likely to lure
  18-44 year-olds away from favored brands in most
  categories.

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They're afraid of computers, digital stuff, PDAs
and mobile phones that take pictures.
Think Again
Wired 50 is the fastest growing segment of
internet users Been Wired They pioneered the
use of personal computers and cell phones Buying
While Wired The majority of big ticket items
sold online are to 50 consumers
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They cant wait to retire.
Think Again
Paychecks 7 in 10 plan to continue to work
after retirement Colleagues More are staying
in workforce longer while the number of younger
workers is declining Companies Savvy businesses
know older workers are needed and are
aggressively hiring and training them
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They want less. What they look for is smaller,
simpler and cheaper stuff.
Think Again
Stairs and All They want to stay in their homes
not downsize. Five Stars Please They account
for 80 of all luxury travel dollars spent
annually. No Need to Gift Wrap More than 46 of
50 household budgets are spent on
non-necessities
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Theyre a monolithic audience thats easy to
reach through traditional channels
Think Again

• When asked what they would do with one extra
  hour in the day, the number one response of
  Boomers (23) was "watch an hour of cable or
  satellite TV."

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• Think Again