As Toronto-based Jeff Beer writes in the Fast Company feature, older people who are living full and fulfilling lives are utterly devoid from the media landscape: “The world of ‘oldsvertising’ is a hellscape full of reverse mortgages, erectile dysfunction pills, and bathtubs that won’t kill you. If you took your entire view of the human race from primetime advertising alone, you’d see a society without old people. They don’t work, they don’t drink beer, they don’t drive cars. They don’t exist. According to Havas Group, only about 5 percent of U.S. advertising is even aimed at people over 50.”
It’s not much better here in Canada, where the vast majority of marketers tend to favour Millennials, essentially ignoring or perpetuating the tired stereotypes of older consumers. Big mistake.The group wields enormous consumer influence: Globally, older consumers will account for $15 trillion in spending by next year.
The numbers alone make a compelling business argument: There are 1.6 billion people aged 50 or older in the world. That number is expected to double over the next three decades. People are living longer in better health and with more wealth. Canada is home to 9.6 million Boomers—almost one in every three residents—and the over 50 crowd is flourishing.