This new white paper reveals findings from several of Euromonitor’s global research initiatives as well as economic and sales data to examine the effects of ageing populations on societies, health and buying behaviour and uncover the following trends for the senior consumer. It covers much of the same old stuff but with a few noteworthy contributions.
Secondly, the report includes several mini cases of successful marketing approaches to the ageing consumer from brands like Nivea (Face Facts Boutique), Midaskin (topical botox), Cal-in+ (yoghurt from Yoplait). It’s cases like this that will help us to convince marketers to respond seriously to the opportunity this consumer presents.
It’s well worth downloading this report and for serious players perhaps even worth buying the full version.
In the free white paper version, the key findings from Euromonitor’s extensive analysis break no new ground (except the topical botox which I’d never heard of before) but reaffirms what we have long known about the ageing consumer;
Living longer, healthier.
The boundaries of old age continue to shift as we live longer and take better care of our health and wellbeing.
Baby boomers are redefining ageing
They are less conservative than their predecessors and are influenced by media images of active and wrinkle-free models and celebrities. They are generally unwilling to take a passive attitude towards ageing, and are attempting to remain youthful, healthy and energetic for as long as they can.
A burgeoning market for “age management”
A large and growing market has arisen for products and treatments that help protect the skin and hair or reverse the signs of ageing.
A holistic lifestyle
More consumers are taking a holistic approach to ageing, paying attention to good nutrition and recognising the need to balance their emotional wellbeing with keeping their body active and mind sharp.
With Alzheimer’s disease and dementia being big concerns for ageing consumers, they are choosing to remain socially and intellectually active by staying in work longer, travelling, learning new skills or using brain training apps.
Adapting to the mature consumer
Companies are responding to the needs of an ageing consumer base by adapting or segmenting their products and packaging; offering greater customisation; and casting older icons in their advertising campaigns.
Well done Euromonitor, particularly on digging up some new case studies!