Only 12% Of Over 50’s Think Brands Care About Them Despite Being Very Cashed Up

Bergen: En annerledes storbyguide. Fire eldre menn på en benk. F.v.: Oskar Edvardsen, Odd Mjelva, Johs. Berentsen og Arthur Liland.
SHARE
THIS



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 research

Latest News

Coopers Release New & Limited Edition Hazy IPA Via TABOO
  • Campaigns

Coopers Release New & Limited Edition Hazy IPA Via TABOO

Looking to entice a more progressive audience into the Coopers family, Australia’s largest independent brewery has released a limited edition Hazy IPA. The product has launched via a national OOH and digital campaign in collaboration with Melbourne creative agency, TABOO. TABOO is behind the exciting new illustrative can design, inspired by the Australian landscape. The […]

Ben & Jerry Goes Political In ‘Unfudge Our Future’ Campaign
  • Campaigns

Ben & Jerry Goes Political In ‘Unfudge Our Future’ Campaign

Ben & Jerry’s has unveiled their latest limited-edition flavour: Unfudge our Future, to urge Australia’s leaders to tackle climate change by making fossil fuels history. The launch aligns with the Federal Government’s preparation of a history-making economic reboot in the upcoming October Budget, with Ben & Jerry’s joining forces with 350.org Australia and the Climate […]

Celeste Barber Encourages Aussies To ‘Get Your Jugs Out’ In Hilarious BRITA Campaign
  • Campaigns

Celeste Barber Encourages Aussies To ‘Get Your Jugs Out’ In Hilarious BRITA Campaign

BRITA Australia is today proud to reveal its latest national campaign, ‘Get Your Jugs Out’, starring Australian comedian, Celeste Barber. The quirky campaign encourages Australians to make the switch from bottled water to great tasting filtered tap water, using a BRITA filter jug at home, with the creative brought to life with Celeste’s cheeky, yet relatable sense of humour.

Enero Posts Net Revenue Increase Of 4.9%
  • Media

Enero Posts Net Revenue Increase Of 4.9%

Forget 2020's plagues, pestilence and famine says Enero, as balance sheet comes out with sweet smell of potpourri.

by B&T Magazine

B&T Magazine
You Can Now Limit Who Can Reply To You On Twitter
  • Technology

You Can Now Limit Who Can Reply To You On Twitter

Twitter is saying ‘bye to the reply guys’, allowing users to control who can reply to their Tweets. ‘Reply guys’ have long been an issue on the social media app, where users (often anonymous) frequently comment on posts in an annoying, condescending or otherwise unsolicited manner. Twitter first put these users on notice in May […]

Home Office Set Up for Webinar and Teleconference whilst respecting the lockdown due to the corona virus outbreak
  • Media

The Virtual Conference Network Launches In Australia

The Virtual Conference Network, an Australian-founded disruptive alternative to video conferencing, has today launched to provide risk mitigation, improved flexibility, new post-event revenue streams, and optimal cost-effectiveness to conference organisers, business leaders and peak bodies. With over 20 years of first-hand experience with the high-risk and costly ways of delivering traditional conferences, co-founders Alex Paine […]

Medallia Appoints Heather Paterson As ANZ Country Manager
  • Advertising

Medallia Appoints Heather Paterson As ANZ Country Manager

Medallia has appointed Heather Paterson as its new ANZ country manager to drive further growth across Australia and New Zealand. With a strong sales performance and leadership background, Paterson joins Medallia as ANZ country manager following more than seven years with leading SaaS financial technology provider, Intralinks, where she was most recently director for Asia […]

IAS And Channel Factory ‘Channel Science’
  • Technology

IAS And Channel Factory ‘Channel Science’

Integral Ad Science (IAS) today announced the launch of “Channel Science”, an industry-leading partnership between Channel Factory and IAS. The Channel Science solution helps advertisers to leverage both companies’ technologies through a single product to ensure their YouTube campaigns are brand-safe, brand-suitable, and performance-optimized.  More than ever before, advertisers are searching for ways to streamline their media buying and improve […]

by B&T Magazine

B&T Magazine
Playing
  • Technology

Google Presses Play On Programmatic Audio

If CV-19's given us anything, it's more podcasts than you could listen to in 1000 lifetimes. Monetise yours with this.

by B&T Magazine

B&T Magazine