Here’s a report (for purchase) focussing on the market potential of the 26 million “Healthy Consumers” who are 50 years old and over and who are pursuing a wellness regime that includes healthy eating and regular exercise.
With an aggregate household income of $1 trillion, Healthy 50+ Consumers are prime targets for marketers of a wide range of consumer goods and services. Compared to others in their age group, they have:
- Higher household incomes
- Are more confident about the economy
- More confident about their own financial futures
- Shop more often
- Dine out more regularly
- Travel more frequently
- Look for quality when they buy clothes
- Seek out natural and organic products in the aisles of supermarkets and on the shelves of drug stores
Healthy 50+ Consumers represent a demanding but lucrative consumer segment;
1) Women in the Vanguard of March to Wellness
Healthy 50+ Consumers are more likely to be women than men (53% vs. 47%). One reason for the gender disparity lies in the fact that women are more numerous in the 65+ age group as a whole because of the shorter life expectancy of men. However, data compiled by Packaged Facts February 2011 Online Consumer Survey suggest that the preponderance of women among Healthy 50+ Consumers results from factors other than purely demographic ones. As seen in Figure 3-1, regardless of age, women are more likely than men to report that they are consciously pursuing wellness goals.
2) Entertainment Habits Generate Possibilities
“Keeping Fit,”, “Leisure and Entertainment,” pursuing wellness after 50 involves a higher level of activity than that associated with other consumers in the 50+ age group. Healthy 50+ Consumers account for 15% of those going to a family restaurant/steak house in the last 30 days and 16% of those attending a live theater event in the past 12 months. At the same time, Healthy 50+ Consumers view reading as a valuable activity. They account for 13% of those buying books at a bookstore in the past 12 months.
3) Ageing Boomers and Wellness Concerns Converge to Shift Thinking about Getting Old
The survey confirms the ongoing shifts in perceptions of aging on the part of 50+ consumers, especially among those committed to pursuing wellness. Respondents 50 years old and over whose daily routine is significantly affected by wellness goals and concerns are most likely to agree with the proposition “60 is the new 50 and 70 is the new 60.” Nearly seven in 10 (68%) of 50+ consumers who are concerned with wellness have stretched their definitions of aging, compared to 58% of the 50+ age group as a whole and 62% of those under the age of 50 who are concerned about wellness in their daily lives.