If living standards of younger generations’ are under threat as reports suggest, companies should adopt ageless marketing practices.
According to a Ipsos Global Trends Survey 2017, covering almost 19,000 adults aged 16+ in 22 countries, suggests that roughly an equal number of people believe that today’s youth will have a better (39%) or worse (40%) life than their parents. But the difference between developed and developing countries is as dramatic as it is, unsurprising.
Let’s take the two extremes covered in the survey:
Q; To what extent, if at all, do you feel that today’s youth will have a better or worse life than their parents, or will it be about the same;
| BETTER | WORSE | |
| China | 78% | 7% |
| France | 10% | 71% |
| TOTAL (22 countries) | 39% | 40% |
| Source: Ipsos Global Trends Survey 2017 | ||
An interconnected report focussed on the UK market titled; THE MILLENNIAL BUG published by the Resolution Foundation concluded;
- There is widespread pessimism about young people’s lives compared to those of their parents
- Graduates, unemployed people and Labour voters are among the most pessimistic
- Housing, jobs and retirement living standards are the areas of greatest concern
- Housing and jobs market failures are the key causes of this situation, with relatively little blame placed on the actions of generations themselves
- People of all ages support the notion that each generation should do better than the one before
- Government actions can make a difference, with addressing broad economic challenges and improving public services the top priorities
Clearly, there are different marketing challenges facing businesses in developed and developing countries and people have different needs at different stages of life but the wholesale obsession with youth (Millennials) at the expense of older consumers is an outdated, foolish, ageist and commercially irresponsible strategy.
Ageless marketing should be the default strategic choice.
