McKinsey, June 2008
Five-0 December 2008
At Five-0, we’ve spent the last year studying, researching and conversing with consumers age 50 to 70 across America. We’ve met with experts and authors on their habits. We’ve interviewed researchers and statisticians about their trends. We’ve heard their opinions about advertising and marketing in segments from packaged goods to automobiles to erectile dysfunction.
What have we learned?
We’ve learned that today’s 50+ consumer (the boomer) is changing everything about aging and marketing. From what they buy to where they buy to why they buy.
We’ve learned that they believe that most marketing either talks to their parents or their children, but not to them*.
We’ve learned that they’re more ready and willing to try new brands, products and ideas than consumers in their 30’s.
We’ve learned that they are tired of advertising that simply “entertains” instead of informing.
We’ve learned that they see their next 30 years as their most powerful, positive and productive.
We’ve learned that traditional myths about the habits of older consumers are proving seriously outdated, misguided, ignorant and in some cases, even dangerous to the health of a great brand.
We’ve learned that in the coming decade, speaking intelligently and persuasively to this maturing audience can and will be the difference between success and failure for thousands of mainstream brands.
If the last year has taught us anything, it’s taught us that 50+ consumers have the money, they have the desire and they are ready to buy... if you say and do the right things.
Do you know what those are? At Five-0, we do.
*According to an AARP research study of over 50,000 people 50+.