Are you over 50? Do you know someone over 50? Of course you do! We all know someone over 50. But how much do you know about the consumer habits of this demographic group?
The company Type A created a video that revealed incredible facts about people over 50.
People 50 and over…
- Hold 75% of the financial assets in the U.S.
- Are responsible for almost 50% of consumer spending
- Buy 60% of all new cars
- Have a net worth about 3 times that of younger generations
- Have an average income 55% higher
- Account for 55% of consumer packaged goods purchases
- Outspent those under 50 by one trillion dollars in 2010
- Are asked for advice about products or services about 90 times a year
- Own 60% of all vacation and second homes
- Are the web’s largest demographic constituency
- Spend more than younger adults in virtually every major product category
- Spend about $650/month on technology
- Have a population that will grow at 3 times the rate of adults below 50 between now and 2030
- People over 50 are only targeted by 5% of advertising!
Clearly there is a huge gap between consumer habits and advertising targets.
Are you getting your message to people over 50? If not, you should!
Not all products are intended for those over 50 and so not all messages need to be aimed at this age group. However, this demographic is being neglected, which may be costing many organizations potential revenue or support. Let us help you create a plan to reach this very important group!
You can watch the original video here: http://www.youtube.com/watch?v=vQ3Ha1JRFt0