2

Over 50

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55-64 year olds have 80% more wealth than 25-34 year olds

Source: ONS Wealth & Assets survey

8

The critical effect of stereotyping…

…has real world effects on health and behaviours

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USA only 3% of ads show people aged 60 or over

Source: Gerbner & Ozyegin 1997

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A life time of TV watching…

LIFETIME TELEVISION EXPOSURE

NE

GA

TIV

E V

IEW

S O

F A

GIN

G

Source: Donlon & Levy 2005

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www.over50plan.co.uk

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“A man at midlife is suffering from loss of youthful vitality, and, often some insult to his youthful, narcissistic pride”

Elliot Jacques

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Life satisfaction starts to increase in middle age

Life satisfaction score by age group in the UK 2007

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‘The positivity effect’

Source: Mather & Carstensen 2005

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Source: UK Daily Mail, July 2011

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People basically stay the same

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Things may change but people stay basically the same

Source: Arking 2006 : Baltimore Longitudinal Study of Aging

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Crystallised memory remains stable into late Middle-age

Source: Poon 1992; Moscovitch 1982

Mechanical (fluid) memory – new information

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Mastery of life

Selection

Optimism

Compensation

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People typically report feeling 20% younger than their chronological age

Source: Eibach Mock Courtney 2010

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Implications for brands, marketing and npd?

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Insight generation

1. Question your approach to segmentation

2. Question the appropriateness of your internal team & advisors

3. What will you do differently to account for the fact that older people are more in tune with their emotions?

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Brand and Product Strategy

1. Don’t make age relevant when it isn’t

2. Is the product design maximised for this demographic?

3. Ensuring NPD strategy reflects changing population

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Communications

1. Use of more positive wording and semantics is important

2. Diversity & accuracy of representation (avoid stereotyping)

3. Stop making excuses that older people are harder to influence - that they don’t use digital or are cynical

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