While businesses and especially marketers and advertisers focus on ‘digital disruption’ and play with their new online toys, arguably they are still missing the biggest behavioural disruption of our age – the ageing of consumers. societies and spending power. Having just turned 50 myself, I continue to be amazed at the narrow focus of most marketing activities on those much younger than me. Perhaps it’s just that middle age advertising executives like to pretend that they are still teens?
In their timely book Marketing to the Ageing Consumer: The secrets of building an age-friendly business, Dick Stroud and Kim Walker provide a clear and comprehensive overview of why ageing consumers represent a huge business opportunity, where and why they have different needs and how to ensure that your business and products are designed for this important wealthy and growing group.
The first part of the book gives a very broad overview of the challenges and opportunities in marketing to ageing consumers, followed by a detailed examination of the impact of ageing on the senses, mind and body. In the final few chapters of the book, the authors provide a clear pathway to developing more age-friendly business practices, touching on product design, brand communications, online and retail experience and sales support. These chapters include many case studies of both good and bad practice across a wide range of industries.
If you count this age group among your customers, and most industries do, then I recommend that you read this book and use it as a springboard to make your business friendly to older and younger customers alike.