The face of adults 50+ in America is changing, and it is very different from older generations of the past.
Enabled by extended employment and the benefit of disposable income, older Americans lead vibrant, active lives.
They are traveling and exploring, entertaining friends and family at home and are highly involved in their communities. As such, Americans over 50 are a significant consumer group across a wide variety of goods and services, and, most importantly to marketers, their wallet is still up for grabs.
However, 77% of older adults feel that their age group is being ignored by advertisers and 49% avoid brands who actively ignore their age group.
Are Marketers Missing a Huge Opportunity? Why Are Adults 50+ Such a Valuable Audience?
- Strength in Numbers: There are 114 million adults 50+ in the U.S., comprising over one-third of the U.S. population…and growing.
- Working Longer: They are choosing to work later into life and currently account for 34% of the U.S. workforce.
- Huge Spending Power: They account for over $3.2 trillion in aggregate annual expenditures, which is 41% of total U.S. consumer expenditures.
- Active Lifestyles: They enjoy an active lifestyle, and as a result, are heavy purchasers across many product categories. Interestingly, their spending profile nearly mirrors that of millennials.
- Voracious Video Viewers: They enjoy a variety of programming across screens and devices, spending just over seven hours a day viewing video. This represents a great opportunity to build or reinforce a relationship with these highly engaged viewers.
The Age of Opportunity
Understanding the Consumer Value of Adults 50+
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