Maria Garrido at The Drum says: Brand marketing’s obsession with millennials over the past few years looks likely to transfer onto generation Z or centennials (as they’re otherwise known) in the year ahead.
However, while strategies around engaging youth continue to dominate, another age demographic with an average online spend of €7bn a year, according to GlobalWebIndex, is being increasingly marginalised by advertising.
The over-55s, the grey market, or the silver surfers as they’re often referred, hold around 80% of the wealth in the UK and 70% in the U.S. And boy do they like to spend it.
Their spend has grown by an average of 4.5% annually for the last 10 years, compared with only 1.2% for their younger compatriots. The global management consulting firm, AT Kearney, projects that globally, the spending power of the over-60s will reach $15tn by 2020.
The numbers are important because global consumption proliferation is no longer being driven by rising populations.Read article