How Can 35-64 Compete in a 25-54 World?
October 18, 2012
Start by asking, “What’s the real difference between 25-54 and 35-64 year-old consumers?”
Answer: Both groups share the 35-54 year-old segments, which leaves the difference of the 25-34 and 55-64 age cells.
Next, remind potential advertisers that you are already delivering the biggest chunk of 25-54, which is 35-54, but that you can also offer a bonus 55-64 consumer group. In fact, if you take a look at the 25-34 age cell versus 55-64, you’ll find that 55-64 year-old consumers are a more affluent and desirable consumer group than 25-34 year-olds.
Here are some facts to share about the 55-64 “Alpha Boomer” age cell:
- Income per person is highest at 55-64
- Discretionary income peaks at 55-64
- Growth in discretionary spending on goods and services peaks at 55-64
- The 55-64 segment has a median net worth of $73,664
- The 55-64 demo is part of a segment who do not shop specifically for price and will, most probably, buy better quality and brand-name products than do younger people
- The 55-64 demo is part of a segment who are a large market for children’s apparel and other purchases – grandparents spend $13.5 billion annually on their grandchildren
- The 55-64 demo is part of a segment who spend more per capita in the grocery store than any other age group
- The 55-64 demo is part of a segment who take more trips, travel longer distances, and stay away more days on each trip
- 55-64s share the same tastes in online usage as the 18-34s, ranking Facebook and YouTube among their favorite sites
- 55-64s buy at least one product online per month
- 55-64s own more iPads and smartphones than any other demo
- 55-64s drive elections, accounting for the biggest voting blocs in both 2008 and 2010
- 55-64s buy more technology and gadgets than any other demo
- 18% of U.S. consumers aged 55-64 have made purchases on their smartphones
Finally, to drive the point home, run a market comparison of 25-34 vs. 55-64 consumers for the appropriate qualitative category to truly show that 55-64 year-olds are better consumers for your potential advertisers’ specific products and services.
-Karen Blanks, Sales Research Consultant