LOS ANGELES: It’s a fact many marketers in established economies are having to come to terms with: populations are getting older. And it’s not just in the West; China will have the largest population over 65 by the year 2030.
Gone are the simple days when marketers could target their products and services through mass media at younger audiences, in an attempt to engender lifelong loyalty. As sophisticated consumers live longer, healthier lives, they will re-evaluate experiences and seek brand solutions that chime with their evolving needs, attitudes and behaviors. One thing’s for sure: old age isn’t what it used to be.
Desire Brand Management said contrary to popular media portrayal, as people age, they become more diverse. They asked readers to think about it: there could be 40 years of difference among this “homogeneous” group. And 78% of people aged 65- 74 say they do not feel old, which explains why they respond better to marketing that depicts people their age living healthy and active lives.
L’Oréal, Danone and Ford were quoted as brands taking steps to connect with older generations in a more relevant way…