Only 12% Of Over 50’s Think Brands Care About Them Despite Being Very Cashed Up
Brands who ignore the over 50’s market are doing so at their own peril, says a new report conducted by MevCorp Research for WYZA, the online platform for 50+ folk.
The Wise Up! Research Study canvassed the attitudes of almost 8000 of this generation, and findings show that brands and services are missing the mark when it comes to the age bracket, which makes up nearly eight million Aussies, or a third of our population.
The study found the 50+ market holds 40 per cent of the nation’s net worth, but only 12 per cent think brands are interested in them.
The over 50’s spend around $4 billion on products and services every week, and while the ‘mid-life crisis’ is a bit of a myth, apparently the ‘mid-life surge’ is something that’s on the rise, with the generation open to switching brands and trying new products – far from the idea that the older generations are set in their ways.
And while men 50 and over value being in a loving relationship more than anything else in their lives, as it turns out, women’s top priority is their independence, who are also struggling with the experience of ageism, despite most revealing they’re far from winding down and keen to travel, get healthy and buy new things.
“There are nearly eight million Australians in this age group today, one third of the population, and yet 88 per cent of this demographic feel that they are largely ignored by business and marketers,” CEO of WYZA, Michael Farley said.
“This is plain crazy because they spend over $200 billion per annum on products and services. They are engaged. They embrace changes in their lives with a positive attitude and are seeking new adventures. They create new businesses, travel, challenge themselves in ways they have never done before, work on their romances and love life.
“What is also clear is that the old model of reaching people in this age group has changed. They spend an average of five hours a day on the internet, social media and their mobile phones.
“Some brands like First National Real Estate, Blackmores and Real Insurance have recognised the importance and influence of this powerful demographic. But those brands who are ignoring them need to wake up. They are missing out on an incredible opportunity and risk alienating their brands.”
Please login with linkedin to comment
Account planning ADMA Global Forum mevcorp research older generation over 50s Salary ultimate traveller video competition wise up researchLatest News
Smart Speakers Stung By Ad Fraud Costing Brands $1M Per Month, Says DoubleVerify
Be wary of a Nigerian sounding bloke that claims he is Kochie and pimping crypto on a smart speaker near you.
Contiki Challenges Influencers To ‘Switch On Social Travel’ In New Campaign Via We Are Social
Contiki wants influencers to give up irritating selfies on holiday by funding them to create irritating selfies. Genius.
“We Are In Our Epic Era”: Natalie Harvey On The Big Changes Coming As Mamamia Celebrates 10 Years Of Podcasting
Natalie Harvey has taken on the Mamamia CEO's chair that B&T hopes sports a mashed pumpkin vomit stain.
TV Ratings (08/05/2024) : Team USA Become First Female Team To Win LEGO Masters Australia
It's not been a great day for Australia - out early in Eurovision, crushed by the Yanks in Lego Masters.
GroupM Hires Former Amazon Ads Global Head Of Services
GroupM poaches Amazon's Mark Lomas to lead its retail media business. Says he has no opinion on Jeff Bezos' new yacht.
It’s All About The Indies! Introducing The Best Of The Best Indie Executive Creative Leaders 🎉
Indie agencies are thriving & it's mostly thanks to these industry leaders. And their delegating to the lackeys.
Introducing BrandComms.AI, Forethought Revolutionises How Brands Do Effective Creative
Marketing & strategy agency Forethought unveils new AI offering. Yet can't explain the plot to any of the Matrix films.
Independent Media Agencies Of Australia (IMAA) Announces Record 44 New Group Deals For 2024
The Independent Media Agencies rolls out even more support for its members. Alas, no signs of any discounted arancini.
After Google Search Spike, Reddit Shares Jump 14% In First Quarterly Results Since IPO
It looks like being a top time to be investing in the tech space. Defence industries & missile makers also doing well.
Gippsland Dairy Celebrates The Deliciousness Of Patience With ‘Slow Good’ Platform Via Special
Yoghurt's a lot like online dating, red wine & running marathons - you think it's good for you, but it probably isn't.
Let Them Eat Cake: Cashed-Up Professionals Are Back In CBDs And Airports And They Want Their Audis
Latest study finds the ABs are returning to offices & reveals how brands can cash in. Just not the work from home brands.
Mariah Carey Lends Her Inimitable Voice to ‘Portrait of a Portrait’, Audible’s Latest ‘Words + Music’ Installment
Think Mariah's only good for annoying the shit out of colleagues at Christmas? Think again with this new Audible work.
AiMCO Announces New Member Webinar To Deep-dive Into The Intricacies Of Influencer Agreements
Work with influencers? This webinar's a must. And, thankfully, sporting immaculately white teeth isn't a prerequisite.
TikTok’s Head Of People AUNZ Laura Chuck Leaves After Nearly 4 Years
As much as B&T wanted to use "chucks it in" in this headline, we didn't want the Chinese government coming after us.
News Corp Australia Gets Ready For D_Coded 2024
News' D_Coded event returns for 2024. And that can't be said about Alan Jones, the Masked Singer or plant-based meat.
Ideally Continues high growth trajectory, appoints senior marketing lead
Maura Halpin brings impressive resume to her new role at Ideally. Although her bronze in Year 12 swimming has vanished.
Feel-Good Gin! The Oasis Committee And Spirit of Little Things Collab On Charity Gin
Want to help disadvantaged youth all while drunkenly phoning an ex at 3am? Have we found the gin for you!
TV Ratings (06/05/2024): Emotional Lego Masters Goodbye Does The Numbers For Nine
And we thought Lego could only make you cry when you accidentally stood on a piece.
Lisa Wilkinson AM To Join Cannes In Cairns As Keynote Speaker
Multi-Award Winning Journalist and TV Host Lisa Wilkinson AM to speak at Cannes in Cains, sponsored by Pinterest.
Mamamia Names Natalie Harvey As New CEO
Mamamia has today announces the appointment of Natalie Harvey as Chief Executive Officer.
‘The Media Has A Way To Go On Diversity’ – Diversity Council Leader Lisa Annese On Industry Diversity And Why Sunita Gloster Is An Important Addition To Their Board
Few are more qualified than a Gruen regular to knock adland and the media into shape on diversity.
Mike Shows Up At A Wake And Still Hasn’t Seen That Show, In Latest Instalment Of ‘I Saw It On Binge’, Via Thinkerbell
Why is it we pay for 19 SVOD accounts namely due to FOMO but then rarely bother to watch the shows anyway?
Flexiroam Partners With Specialist Agencies To Launch “Ready For Anything” Global Campaign
Do you return from overseas with Bali belly, a possible STI & a huge phone bill? FlexiRoam may help with the last one.
Samsung Unveils Power Of AI To ‘Upscale Every Moment’ With Neo QLED 8K
Got mates who brag about their 83-inch, 10K resolution, OLED screen TV? You're just as bored & baffled as all of us.
Media-Wize Wins AUSCERT PR Account
Media-Wize calls itself "a media training and technology and cyber security PR agency". Think nerds with better hair.
Snapchat Taps Gelato Messina In New Brand Campaign
B&T needs little tempting to scoff more Gelato Messina. Apart from having to go up a size.
Travel Insurer Trippi Draws Ire From The Brazilian Embassy Over Cheeky Brazilian Ad
There's a very fine line between "playful" and "utterly offensive". These ads are almost a dictionary definition of it.
Racing NSW Hits Tabcorp With Legal Action Over $6 Million Revenue Loss
Here's some horse racing news that thankfully doesn't require a silly hat or passing out in a nearby rose bush.
AI Tools Such As ChatGPT Leading To ‘Content Overwhelm’ Among Marketers
Study says tech leading to an avalanche of content for marketers. Not to mention having to read the instruction manuals.
Stake Appoints 72andSunny As It’s Creative Partner
72andSunny nabs Stake's creative. And by that we mean the investment platform, not the nemesis of all vampires.
61% Of Aussies Want Corporate Australia To Stay Away From Social & Political Issues Leo Burnett Study Finds
Do you love a study that appears to fly in the face of every study before it? Be mesmerised by these results from Leos.
Brendon Cook, OAM, Inducted into the OMA Hall of Fame
Other than Australia's typically pleasant weather, no one's done more for outdoor than the former oOH! boss.
New Campaign Highlighting Renewable Gas As A Crucial Component Of Energy Transition
It's hard not to make a renewable gas ad sound like a tedious Year 9 science lesson. So well done to the agency here.
Love Media Welcomes Alana Dowling As New Client Director
Seasoned media pro Alana Dowling joins the Love Media team. Clearly replacing someone who didn't love it
B&T 30 Under 30 – Where Are They Now? Until Recently, Prison!
A prestigious 30 Under 30 gong can get you headhunted, promoted or, in this instance, a two-year stint in the slammer.
“We Will Never Tell A Journalist What To Write” – Nine’s Aimie Rigas On How Data Is Shaping News
Data becoming the journalist's tool for more engaged content. Still not beating dodgy MAFS contestants or a Kardashian.