The Mature Market: Consumer Trends and U.S. Retail Markets
One of the greatest mistakes marketers can make is to assume that once consumers reach 55 years old, that they fade out of the consumer market. The “mature market” spans 40 or more years and embraces generations of socio-cultural, political, and technological revolutions, not to mention a vast array of lifestyles, financial situations, health concerns, career choices, education levels, and family dynamics: People are living nearly 30 years longer and enjoying a better quality of life than ever before.
As of Spring 2006, nearly 68 million people had reached age 55 at their last birthday, and various estimates have the population over 50 holding nearly $20 trillion in resources, controlling over 70% of disposable income, and wielding $1.6 trillion in spending power. By 2030, people age 65 and over are expected to number over 70 million; an even greater wave is sweeping the 85 and over age bracket, who are projected to surge from 4 million in 2000 to an amazing 20 million by 2050.
The market has not focused enough effort in meeting the wants and needs of those already in their 60s, 70s, and beyond. To help marketers prepare, Packaged Facts presents The Mature Market: Consumer Trends and U.S. Retail Markets, an all-new report on the attitudes, preferences, and shopping behaviors of mature market consumers. Drawing on uniquely cross-tabulated Simmons Market Research Bureau survey data, along with government and private sector data sources and interviews with experts, public relations and industry analysts in firms that specialize in boomer market research, this report provides overview of mature market attitudes and spending trends in five focused chapters:
- Mature Market Demographics. This chapter discusses the ways that successful marketing requires careful research into specific, overlapping demographic groups, many defined by life stage and not age. Regional, economic, and educational differences add additional dimensions.
- Mature Market Lifestyles, Health, and Wellness. This chapter reviews the growing health and fitness industry in mature sectors, and the ways that preventive wellness and exercise can help reduce burgeoning medical costs.
- Mature Market Personal Finance and Home Ownership. This chapter examines work habits, consumer debt, and personal financial strategies like long-term care insurance and reverse mortgages.
- Mature Market Internet and Telecommunications. This chapters presents the growing digital activity of the mature market, from medical research to social networking, including additional technologies that will assist marketers in reaching target markets with hearing or sight impairments.
- Mature Market Travel, Transportation, and Entertainment. This chapter focuses on the ways that leisure and travel activities fit into the mature market’s desire for independence, mobility, and new experiences.
If your company is interested in understanding and reaching the mature market, you will find this report invaluable, as it provides a comprehensive package of information and insight about mature consumers not offered in any other single source.
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