Consumers are more brand-promiscuous than ever before. In fact, according to research conducted by Accenture, 77 percent of all consumers admitted they now retract their loyalty more quickly than they did three years ago.
95% of older customers would be disloyal to their favourite retailer if a competitor understood them better. According to research by ICLP involving more than 10,000 consumers in the UK, 82% of people over 55 say their favourite retail brand doesn’t understand them or their needs. Just 29% of these older (Baby Boomer) consumers said […]
A better understanding of older customers leads to product and service innovations. In 2015, Silver Group held one of our ‘ageing innovation’ experiential workshop for Chiva Som in Thailand. One year later, their General Manager, Sheila McCann, spoke at the Asia Design and Innovation Conference. Hear what she had to say about it in this short clip.
Luxury brands lag other consumer sectors when it comes to understanding and applying digital technologies, according to a “Digital or Die” report from BCG; and the speed of technology development is endangering their current business models. Importantly, the report cautions that younger consumers are by no means the only ones pulling luxury brands toward digital. Fully […]
Less than 15% of firms have developed a business strategy focused on the elderly according to BCG while the Economist Intelligence Unit found that only 31% of firms take into account increased longevity when making plans for sales and marketing. This despite the fact that the over-60s currently spend some $4 trillion a year and that […]
It has been reported that nearly half of Apple’s customer base are over 55 year of age. In fact, as I wrote here, men over 65 are now Apple’s top spending customers. So it made sense for us to evaluate how well this hot new product, the Apple Watch, meets the needs of these valuable, older customers. […]
During a recent flight in Australia, I found a Uniqlo magazine strategically placed in the seat pocket. I witnessed first hand the metoric rise of Uniqlo from the time I lived in Tokyo umpteen years ago and I’ve been a Uniqlo fan (brand and products) ever since. So I was excited to see this ‘ageless’ […]