Varsity Branding, the nation’s leading marketing communications agency dedicated to winning the mature market, has released its first annual study of the top consumer goods and services trends affecting this audience and the companies that market to them. The 2011 Mature Market Consumer Goods & Services Trends Report focuses on how mature consumers (ages 55 and above) are making purchasing decisions based on personal preferences, physical and logistical convenience and health-related concerns, and why marketers need to be more aware of this rapidly growing demographic.
The report is based on trend spotting, quantitative and qualitative research, including focus groups, surveys, analyses, and contributions from industry leaders in the food and beverage, commercial foodservice, healthcare, technology and retail industries. Among the trends uncovered by Varsity:
“A recent study conducted by Google/Nielsen showed that eight out of ten Boomers believed the marketing messages they were exposed to in traditional and online media were intended for a much younger audience,” said John Bassounas, director of client services for Varsity. “Combined with seniors, this demographic is the fastest-growing and wealthiest, with more than $2 trillion in annual spending power. An audience posting these kinds of statistics obviously deserves a dialogue tailored to them, and the trends we’ve uncovered are a reflection of some of the issues that will affect their buying decisions in the years to come.”