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Business Reporter: Unlocking business value through multi-generational inclusion

Why marketeers should gain a deeper understanding of over 50s

LONDON, UNITED KINGDOM, May 16, 2022 /EINPresswire.com/ -- In an article published on Business Reporter, Ayesha Walawalkar, Chief Strategy Officer, MullenLowe Group UK explains how stopping seeing over 50s as an undifferentiated, economically inactive group can unlock business value. By 2040, over 50s, who are currently controlling more than 50 per cent of all household expenditure, are set to become the biggest spenders in every product category. There is, however, a huge gap between the economic power of this demographic and its representation in advertising, with only 12 per cent of ads featuring them – mostly for products traditionally associated with this age group, such as life insurance, cruises and mobility equipment.

Marketeers seem to be blind to the changing preferences and attitudes as well as the diversity of this age group. Over 50s are becoming increasingly tech-savvy and many have a soft spot for streaming services and digital gadgets. Having identified the untapped marketing potential lying in over 50s, Mullen Lowe Group has segmented them into seven groups ranging from experience lovers and carefree hedonists to caring conformists and security seekers. The marketing company has also mapped out how these segments have very different attitudes to sustainability, technology, travel, health and finance. Each of the seven groups behaves, spends and relaxes differently. Even more relevant to targeting them with messages, each of the seven groups consume media and interact with platforms and brands differently. Communicating with over 50s as differentiated groups rather than a homogeneous mass can unlock great value across all business sectors.

To learn more about the benefits of catering to the real needs of mature buyer groups , read the article.

To download the report please click here.

About Business Reporter

Business Reporter is an award-winning company producing supplements published in The Guardian and City AM, as well as content published on Business Reporter online hubs on Bloomberg.com, Independent.com, Business Insider Germany and Le Figaro, delivering news and analysis on issues affecting the international business community. It also hosts conferences, debates, breakfast meetings and exclusive summits.

www.business-reporter.co.uk

About Mullen Lowe

Mullen Lowe Group, a creatively driven integrated marketing communications network with a strong entrepreneurial heritage and challenger mentality, is a global creative boutique of distinctive diverse agencies, rich in local culture with both intimacy and scale, present in 65 markets.

https://www.mullenlowegroup.com/

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