Companies that successfully tap the ageing consumer market often take great pains not to make it obvious that they are doing so.
Apple is a prime example with around 41% of its customers over 55 years of age.
This is the paradox of marketing to the ageing consumer. Nobody wants to be labelled as ‘old’ merely on the basis of the products they use. Yet, they do have unique needs resulting from the inevitable physical decline that age brings.
This article from Bloomberg explains how ageing boomers befuddle marketers aching for $15 trillion prize. The graphic contains some useful and compelling stats about USA boomers such as:
- 40% of customers paying for wireless
- 41% of customers buying Apple computers
- 53% are on Facebook
- Control 70% of disposable income
A P&G design manager observed that seniors have a hard time imagining what they need. Maybe that’s because they’re still figuring it out.
Steve Jobs famous quote applies “How does somebody know what they want if they haven’t even seen it?!”
We’re all waiting for the tipping point – when marketers finally realise the importance of this segment and learn what it takes to satisfy their evolving needs.