Senior Consumers Understanding Key Trends Driving Consumer Behaviors

by Sameer Joshi or 01-Jul-2018

Much has been made of young generations such as millennials setting new consumer trends and how companies should respond, but in reality, there are perhaps better opportunities available to target older generations then younger ones. Consumers over the age of 55 at present have been shown to be more tech savvy than ever, more online and increasingly looking for leisure and entertainment opportunities.

Overall, as a group of consumers they should be much more attractive to companies then they currently are. This report looks at five key areas where companies could be better targeting senior consumers including: Marketing, Holiday and Leisure, Property, Technology and Retirement.

Publisher analyst, Christopher Bertenshaw, comments: 

"Our research suggests, that as a portion of the global population, over 65s have substantially more liquid and fixed assets than any other age group and significantly more leisure time than any other age group making them the perfect customer for many businesses." .

Key take-outs from the report -

  • Grey dollar controls holiday and leisure markets, but it may not dominate forever.
  • Businesses have yet to appeal to the ‘grey dollar’ – times may be about to change.
  • Property & assets are increasingly owned by older generations.
  • Retirement Plans: Looking for leisure in old age and managing finances.
  • Seniors are far more tech literate and want tech solutions.