Adidas To Target Older Consumers – At Last!

Finally, adidas seems to have realized that its obsession with youth must adapt.

In Japan for example, the teen population is shrinking dramatically while the older population booms.

Acording to a report in the Wall Street Journal, adidas Chief Executive Herbert Hainer had this to say to investors recently:

“Thirty years ago, the average person retired at 63 and died at 65. Today, people retire at 60 or 61 and then live till 74 or 76. That means they have a considerably longer period of time to do things that they enjoy,” he says.

Longer life expectancy and increasing interest in healthy lifestyles provides Adidas with an opportunity in mature markets like Western Europe and the U.S.

“People go walking, jogging, to the mountains; people of 70 or 75 go to the gym today. They’re doing sport and they’re buying sports products,” Mr. Hainer says. This gives Adidas considerable growth potential even when the global economy is only growing by 2% or 3%, he adds.

The 57-year-old, who himself jogs several times a week, says the growth story is different in emerging markets. Sales are driven less by health and more by increasing spending power.

I wonder if Mr. Hainer realises that to reach out to older customers means more than product R&D or advertising. He’ll need to reshape the entire business engine into one that it age-friendly.

Just love those three stripes!