Shock alert: Baby boomers (you know who you are!) are responsible for more than half of consumer spending in the US, and yet only 5% to 10% of most companies’ marketing budgets are directed at winning over the audience over 50 yrs old. This lack of interest by marketers reflects the issue of “ageism”. This link from Harvard Business Review explains that most of today’s older consumers are focused on anti-aging and breaking the mold of what over 50 looks like. Not to mention that most of them have more money to spend than their children! Nielsen adds “Between now and 2030, consumers 18-49 are expected to grow 12+% while the 50 & over market will grow 34+%. Baby boomers (born between 1946 & 1964) already spend more than half a trillion dollars annually – by far more than any other age group.
One thought: if you are over 50 and enjoy marketing, consider approaching a Marketing company who is looking to take advantage of this opportunity! Very few employees over 50 are helping design marketing campaigns – perhaps you can win them over with all the information you can find HERE!