I have been meaning to write about an article that appeared in the New York Times on the 13th May entitled: “In Shift, Ads Try to Entice Over-55 Set.”
All of these quotes should be music to my ears but I just wonder why it has taken so long for the penny to drop – as us Brits would say.
A senior planner for BBDO NY, said there was now good reason for ad clients to seek the mature audience. “In some ways, they are the ideal consumer. They have money, they consume loads of media, and they remain optimistic,” she said.
After 40 years of catering to younger consumers, advertisers and media executives are coming to a different realization: older people aren’t so bad, after all.
As a result of the recent recession, unemployment rates for younger age groups have been far higher than those for older Americans. The most recent unemployment rate for those 20 to 24 years old is 14.2 percent; for those 25 to 34, it is 9.4 percent. The rate for people aged 55 to 64 is only 6.2 percent.
Financially, the disparity is similar. According to the Bureau of Labor Statistics, those people aged 45 to 54 and 55 to 64 had the highest median weekly earnings of any age segment in the United States: $844 and $860, respectively. Meanwhile, those 20 to 24 had weekly earnings of only $454. Those who are 25 to 34 earned $682.
Forbes picks up on this article and then adds a bit plus this video. Really not sure what to say about it.
I am sure it has been around for ages but it is new to me.
As a lot of my friends would say – "very American". I just cannot see us Brits doing something like this but then what is going in NY at the moment with the ex-head of the IMF I could believe anything.
Image source: Ed Yourdon