monojit lahiri highlights an issue that is on the verge of taking the ad-frat by storm – the over-50 spenders!
Resurgent India is passing through tumultuous times!
In a scenario where over 50% of the population is estimated to be “under 25”, youth is god, revered, hymned, celebrated, worshipped and generally perceived as the hottest target group for marketers. What about – er – oldies... the fifty-plus crowd? Nah, chadde, mock the greedy hawkers of products and services dismissively and emphasise that zooming-in on the low hanging fruit called ‘youth’ – symbolising aspiration, want and purchasing power – is where its at. The oldies, they claim, are a boring, washed-up and irrelevant lot, without excitement, adventurous spirit to experiment or desire to live the good life. They are also, usually, broke like hell, which makes them a totally un-sexy constituency!
Perceptive marketers, who have their ears on the ground and track the pulse of everyday life, believe times, they-are-a-changin’. They believe today’s 60’s are the new 40’s – an entire universe away from the fuddy-duddies of yesteryears. There has been a dramatic change in the script, which has resulted in a totally new picture. For example many of the deadly afflictions that caused death in the past… TB, Typhoid, Small Pox, Cholera et al… are history due to the giant strides modern medicine has made. People – generally – are living much longer, in healthier mode, working through the 60s, post-retirement, even sexually active! Unlike earlier times, its not pack-up time to take sanyaas from worldly pleasures and generally concentrate on either looking after the grand children, running household chores for the busy son … or connecting with religion in a scary way! Japan – sharp as hell in these matters (with a population where over 20% are over 65 and by 2015, every fourth person will touch the same figure) got into the act, pronto. Reports allege that at least two mobile phone companies actually design phones for Gen Grey – a sharp, insightful (and profitable) move considering most mobiles are hugely techno-powered since they are largely targeting the younger set.
Resurgent India is passing through tumultuous times!
In a scenario where over 50% of the population is estimated to be “under 25”, youth is god, revered, hymned, celebrated, worshipped and generally perceived as the hottest target group for marketers. What about – er – oldies... the fifty-plus crowd? Nah, chadde, mock the greedy hawkers of products and services dismissively and emphasise that zooming-in on the low hanging fruit called ‘youth’ – symbolising aspiration, want and purchasing power – is where its at. The oldies, they claim, are a boring, washed-up and irrelevant lot, without excitement, adventurous spirit to experiment or desire to live the good life. They are also, usually, broke like hell, which makes them a totally un-sexy constituency!Perceptive marketers, who have their ears on the ground and track the pulse of everyday life, believe times, they-are-a-changin’. They believe today’s 60’s are the new 40’s – an entire universe away from the fuddy-duddies of yesteryears. There has been a dramatic change in the script, which has resulted in a totally new picture. For example many of the deadly afflictions that caused death in the past… TB, Typhoid, Small Pox, Cholera et al… are history due to the giant strides modern medicine has made. People – generally – are living much longer, in healthier mode, working through the 60s, post-retirement, even sexually active! Unlike earlier times, its not pack-up time to take sanyaas from worldly pleasures and generally concentrate on either looking after the grand children, running household chores for the busy son … or connecting with religion in a scary way! Japan – sharp as hell in these matters (with a population where over 20% are over 65 and by 2015, every fourth person will touch the same figure) got into the act, pronto. Reports allege that at least two mobile phone companies actually design phones for Gen Grey – a sharp, insightful (and profitable) move considering most mobiles are hugely techno-powered since they are largely targeting the younger set.
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