How to differentiate Marketing between Ageing Consumers and Other Audiences in Food markets shows marketers how they can target the emerging opportunities among an important, under-targeted, and misunderstood consumer group: older consumers. The proportion of consumers aged 55+ will continue to grow over the next decade as the trend for rising life expectancy and declining birth rates continue.
For consumers, the implications of the growing proportion of older consumers include increasing pension age, greater contributions towards national medical insurance, as well as increased pressure on younger members of families, especially in developing economies, to take care of their elders. Meanwhile, aging consumers are a growing consumer group with strong purchasing power, which means retailers, marketers, and manufacturers should understand their motivations to successfully cater to them.
- Senior consumers are often considered as being overly concentrated on health, however, it is a far less important motivator than price, superior taste and convenience.
- Consumption motivators among those aged 55 and over are similar to other adult groups. Disruptive NPD based solely on age will fail to connect with an older audience.
- The older generation does not see their age as a burden and don’t want to be seen as fragile. They want inclusive products, as opposed to specifically targeting their age.
- When the older generation does have age-aligned health problems, they seek products that are aimed at the condition rather than age bracket.
- The demand for food products providing “in-speriences”, experiences at home, will grow, as it not only saves the effort of going out, but also offers better value for money, which is important for this group.
- Culture and traditions define consumption patterns, especially for the older generation; rather than trying to change them, manufacturers and retailers should launch products that fit into consumers current lifestyles.
Canadean’s ‘How to Differentiate Marketing between Ageing Consumers and Other Audiences in Food Markets‘ report, helps you to understand the motivations of the older generations and how to target them. This will help food manufacturers and retailers to launch products that are successful among this crucial target audience. This includes a wider understanding of the role factors, such as convenience, indulgence and health, play and how packaging design and positioning can play a role in meeting these needs.. It also shows how culture and traditions influence consumers’ preferences and priorities.
Price: $7,995 (Single User License)
Published: March 2015
Report Format: electronic PDF