Aussies feel their age

A new awareness of mortality among older Austrlaians is one of the more striking insights that emerges from WPP’s annual Secrets and Lies Chapter Six: Fact, Fiction and What’s New in 22 report. 

The over-50s lose optimism 

Post-pandemic, Australians over the age of 50 are no longer as optimistic as before. WPP’s report, based on a survey of 2,000 Australians across age, gender and region, finds that: 

• Sixty-one percent of Australians over 50 agree that middle age starts at 60 rather than 40 – down from 78% in 2019.
• Fifty-seven percent feel much younger than their biological age – down from 73% pre-pandemic.
• Forty percent think they are living their best years – down from 61% in 2019.

Why it matters

There’s an opportunity for brands and marketers to engage with this audience in new ways that doesn’t patronise them but gees them up and reminds them of all they have going for them.

Takeaways

• The 50-plus demographic makes up around one-third of the population in Australia and accounts for half of private wealth – but an overwhelming 94% of ad dollars are spent on the under-50s. 
• The over-50s are not a homogenous group; marketers have to target their specific audience. At one end of the spectrum, some are still paying off a mortgage and raising children; at the other, some are facing health issues as they hit their eighties.

Key quote

“The elder consumer bracket is tired of being invisible. The message to all the marketers is to not be fixated with the 28-year-olds, speak to this generation in an authentic language and see your business reap giant dividends for the brand” – Rose Herceg, WPP President, Australia & New Zealand, speaking to Campaign Asia.

Sourced from WPP, Campaign Asia