Capturing 50-plus Year Olds Spending in 2006

Content

• Chapter 1 Executive Summary
  • Introduction
  • The future decoded
  • Action points
• Chapter 2 The Future Decoded
  • Introduction
  • TREND: 50-plus consumers represent a large and growing demographic group
  • TREND: Empty Nesters are a rapidly growing group
  • The number of Early Empty Nesters is growing fastest
  • INSIGHT: Seniors' account for a significant amount of food, drink and personal care consumption
  • INSIGHT: 50-plus consumers are wealthy quality seekers
  • Seniors' higher incomes and wealth make them an attractive target segment
  • Seniors are driving a trend towards 'maturalism'
  • INSIGHT: Huge diversity characterizes the Senior lifestage
  • 'Period effects' must be understood for effective marketing
  • A diverse range of lifestyle groups reflects the lifestage diversity
  • Seniority marks an important period of change and re-evaluation
  • Diverse incomes also reflect Senior lifestage complexity
  • Seniors employment patterns are becoming less predictable
  • INSIGHT: Older consumers offer communication challenges
  • Many older consumers are unable to relate to advertisements
  • Seniors are cynical consumers of marketing spin
  • Seniors are most concerned about having 'own age' role models in advertisements
  • Older consumers most expect marketing and products to reflect their personal situations
  • INSIGHT: Attitudes towards ageing are changing
  • Attitudinally, older consumers are showing more similarities to younger generations
  • Seniors' self-perception is shaped by their state of mind
  • Age is often a source of pride
  • Retirement is about being active and adventurous
  • Older consumers are increasingly experimental and open to new experiences
  • INSIGHT: Health concerns increase with age
  • 50-plus consumers try to adopt healthier eating habits
  • Seniors are under-capitalized in the functional food arena
  • Seniors are becoming more active
  • Taking steps to reduce stress is highly relevant to older consumers
  • Time spent on personal appearance takes on added importance with age
  • INSIGHT: Seniors have strong convenience needs
  • Seniors are time maximizers having strong convenience needs
  • Conclusions
• Chapter 3 Action Points
  • Introduction
  • ACTION: Make Seniors inclusive of targeting efforts
  • Avoid the pitfalls of self-referential creatives
  • Shift the 'center of gravity' in your marketing campaigns
  • Use 'ageless marketing' to make older consumers inclusive
  • ACTION: Target Seniors' core values with your marketing concept
  • Connectedness: use scenes of family interaction and social bonding in communications
  • Self-sufficiency: create 'Senior friendly' packaging and product formats
  • Self-sufficiency: show Seniors as capable and sophisticated consumers
  • Self-sufficiency: be careful in the use of language in advertising and packaging
  • Realism and honesty: strike a balance between realistic and aspirational messages
  • Realism and honesty: target the media savvy older consumer with 'infomercials'
  • Realism and honesty: build word of mouth communication strategies to target older consumers
  • Personal growth: portray Senior lifestyles positively and communicate their active enjoyment of life
  • Individualism: ensure that products are marketed for their specific needs and preferences
  • ACTION: Target older consumers' growing emphasis on health
  • Extend trusted health brands
  • Stop promoting feelings of sacrifice, inadequacy or lack of control
  • Build relationships with the 'expert community'
  • Target older consumers with functional and cosmeceutical products to address their specific health needs
  • ACTION: Target the maturalism trend
  • Target Seniors with masstige and premium products
  • Promote products as an escapism from problems of old age
• Chapter 4 Appendix
  • Definitions
  • Research methodology
  • References
  • How to contact experts in your industry
• List of Tables
  • Table 1: Definition of consumer groups
  • Table 2: Population by age group (m), Europe and US, 1999-2009
  • Table 3: Senior populations in Western Europe and the US, by age, and country, 1999-2009
  • Table 4: Empty Nesters as a percentage of all Seniors, 1999-2009
  • Table 5: Number of Empty Nesters in Europe and the US (m), 1999-2009
  • Table 6: The % and overall market value (US$ million) accounted for by 45+ year old consumers' food consumption, by category (bakery, confectionery, dairy food, frozen food, meat, fish and poultry, ready meals and sauces), by country, 2004
  • Table 7: The % and overall market value (US$ million) accounted for by 45+ year old consumers' drinks consumption, by market (beer, cider, coffee, tea, bottled water, carbonates, juices and RTD tea & coffee), by country, 2004
  • Table 8: The % and overall market value (US$ million) accounted for by 45+ year old consumers' personal care consumption, by market (haircare, make-up, oral hygiene, personal hygiene, skincare), by country, 2004
  • Table 9: Mean disposable income per capita by age () in Europe and the US, 1998 - 2008
  • Table 10: The % of European and US consumers who enjoyed small indulgences to escape the pressures of everyday life 'more' or 'significantly more' in 2004
  • Table 11: Distribution of population by income group by age and country
  • Table 12: Seniors in employment (m) across Europe and the US , 2003
  • Table 13: The percentage of Boomers who completely or mostly agree that you needs to be cautious serving foods with specific nutrients
  • Table 14: Functional food and drink share of volume consumption by age group, Europe & US, 2004
  • Table 15: US health club membership, by age, 1987-2003
  • Table 16: Overall number of personal care occasions by age group, Europe and US combined, 2004-2009 (millions)
  • Table 17: The percentage of personal care consumption value by late Mid-Lifers and Seniors relative to their populations weightings, by category, 2004
  • Table 18: Consumer survey: percentage of consumers who would be willing to pay more for cosmetics and toiletries with active ingredients for their specific requirements by gender and age
  • Table 19: Proportion of Seniors living alone (%) in Europe and the US, 1995-2025
  • Table 20: The percentage of ready meal and frozen food consumption value by late Mid-Lifers and Seniors relative to their population weightings, 2004
  • Table 21: Shifting the centre of gravity is a key tactic in making older consumers inclusive of targeting efforts
  • Table 22: Examples of 'ageless marketing' in practice
  • Table 23: Best practice in packaging and format adaptation to better meet Seniors' needs
  • Table 24: An example of effectively appealing to Seniors' increasing tendency to seek fun, excitement and new experiences
  • Table 25: Examples of health products catering to Seniors
  • Table 26: Definition of terms
• List of Figures
  • Figure 1: Actions for targeting Senior consumers can be grouped under seven core themes
  • Figure 2: The percentage of the population aged 50 and over will exceed 30% in all featured countries by 2009
  • Figure 3: Older consumers are more likely to cocoon: they regard their home as a "retreat from the outside world"
  • Figure 4: The sheer length of the Senior lifestage is representative of the diversity associated with Senior consumerism
  • Figure 5: Recognizing 'period effects' and how they shape older consumers' values, attitudes and behavior is crucial to developing successful marketing campaigns
  • Figure 6: Seniors can be targeted by recognizing three distinct lifestyle groups
  • Figure 7: Life events experienced that impact on consumption behavior
  • Figure 8: Consumers aged 50-64 are particularly cynical about health claims made by food and drinks players
  • Figure 9: Older consumers, distrusting of conventional media, are more likely than their younger counterparts to rely on word of mouth recommendations
  • Figure 10: As consumers age, they place more importance on advertising featuring characters their own age
  • Figure 11: Older consumers place a higher level of importance upon marketing that reflects their personal situation
  • Figure 12: Older consumers, especially those aged 65 and over, attach more importance than younger cohorts to customized solutions tailored to specific needs
  • Figure 13: Older consumers' aspirational ages reflect their fear of ageing and desire to be younger
  • Figure 14: 50-64 year olds' relative dislike of their age can be accounted for by an innate fear of ageing and a desire to maintain a youthful appearance
  • Figure 15: Older consumers now embody open-minded attitudes and show a similar propensity to other age cohorts in trying new things
  • Figure 16: The proportion of US consumers that try to stick to well-known brand names (1975-2000) does not significantly increase with age according to this study
  • Figure 17: Older consumers were most likely to have taken active steps to improve health in 2003-04, highlighting how old age can act as a trigger point towards making new lifestyle choices
  • Figure 18: Stress is a lifestyle problem also relevant to old age
  • Figure 19: The importance of spending time on personal appearance increases with age
  • Figure 20: Exploring the trigger points impacting cosmeceutical uptake highlights why older consumers are, and will continue to be, vital in driving the market forward
  • Figure 21: Summary: there are many actionable implications stemming from our insight into older consumers
  • Figure 22: Self-referential creative processes hinder effective targeting of older consumers
  • Figure 23: There are two core strategies which marketers can follow to ensure Seniors are incorporated into targeting efforts
  • Figure 24: Older consumers' aspirational ages reflect their fear of ageing and desire to be younger
  • Figure 25: Marketers should ensure that products and communications are aligned with 5 core values
  • Figure 26: Images used in the Dove "Real Beauty" campaign capitalize on older consumers' desire for attainable beauty
  • Figure 27: Two phases characterize successful viral and word of mouth campaigns
  • Figure 28: Fear of the visible signs of ageing will have the greatest influence on consumers' use of cosmeceuticals
  • Figure 29: Following these actions will help in attracting the quality seeking, wealthier older consumer