Older Consumers: Destroying Marketing Myths

Research and Markets has announced the addition of Older Consumers: Destroying Marketing Myths to their offering. Trends in Seniors behavior are shattering traditional assumptions of the group. The changing Senior group has resulted in the creation of a generation with higher disposable income but limited leisure time. Today’s Seniors are more experimental and are willing to pay a premium to trade-up to higher quality, convenient food and drinks and those that provide proven health benefits. In 2003 Seniors accounted for almost 40% of all European personal care occasions, which is higher than younger groups who have traditionally been the focus of marketing activity in personal care. In Europe and the US the number of occasions amongst seniors is the fastest growing, with respective CAGRs over the next five years of 2.5% and 1.5%. Marketers often confuse habit with loyalty and believe Seniors are unattractive to target as they have fixed behaviors. However, Seniors often purchase out of habit rather than loyalty. Thus, providing Seniors with information on the real benefits of a product will encourage switching among Seniors and satisfy their thirst for knowledge. Companies need to understand and interpret the changes in order to capitalize on the new emerging