Seniors have typically been considered as people aged over 50 and characterised as inactive, technology-naïve, thinking about death, impoverished and decrepit. While there are challenging realities resulting from the physical and cognitive changes associated with ageing, such characterisations are outmoded. Many older people now feel disengaged with marketing and advertising campaigns. This is a missed opportunity as the seniors market is huge and many over 50s have considerable wealth and purchasing power. As fertility rates drop and life expectancy increases (especially in developed markets) it's important to look at older people through a different lens, enabling more compelling, and lucrative approaches.

Definition

Senior consumers have traditionally been classified as those people aged over 50. The over-50s cohort is often sub-divided into different groups i.e. 50-65 year olds, 65-74 year olds and 75+. The seniors market can also be referenced as the Grey Market, the Third Age or in the context of technology, Silver Surfers.

Key insights

1. New launches should target Baby Boomers’ adoption behaviour and life-stage