How the 50+'s shop

Money-off coupons and in-store promotions are more likely to influence the over 50s than any kind of loyalty to a particular brand, according to a new survey conducted by specialist mature marketing consultancy, Millennium. The survey of almost 400 people aged between 50 and 80 also reveals that more than a quarter (26%) shop for groceries online, which is said to dispell any myth that people in this age range are uncomfortable using computers. Over half of the sample spend in excess of £150 on groceries per month; with 49% believing that this figure is higher than their average spend at the same time last year. The most important factors to them when out shopping are, unsurprisingly, quality and price, which rank neck-and-neck. One finding is that 48% of those questioned said that publicised health reports did not affect their decisions to purchase or avoid particular grocery products. But, products claiming to be beneficial to health such as wholegrain, probiotic, vitamins and cholesterol-lowering products were particularly popular amongst the over 50s. Packaging and ethical concerns were also quite high on the agenda.

We are now the fastest growing age group of internet users

Once they were regarded as the “technophobe generation” but, according to a new report, the over 50s are now the UK’s fastest-growing age group of Internet users.

And the affluent ’silver surfers’ are starting to change the way that advertisers sell their products and services on the worldwide web.

For they belong to an age group that controls 80% of the country’s personal wealth, and accounts for 40% of consumer spending.

“That,”; says mature marketing expert Fiona Hought, “makes them one of the most powerful consumer forces in Internet shopping. And they are starting to flex their muscles.”

Fiona is managing director of Millennium, mature marketing specialists that have been tracking Internet usage among the over 50s.

New research has revealed that the over 50s now make up over a quarter of web users in the UK and 14% are over 70. This is a figure that has continued to grow over the last four years.

The Mature Market Segmentation Model

Well this mouthful is from a site called Millennium a company that specialises in marketing to the over 50's. I was especially interested as they get into the problematic area of what to call us as they segment us for marketing purposes. They call their model the New Majority which they claim incorporates what they have learned about this market in over 12 years of research, analysis and communications.

They define us as – Thrivers (50-59), Seniors (60-69), Elders (70-79) and Survivors (80+). Well I definitely do not like to be called a senior, Mike is not exactly enthusiastic about being titled an elder and we have friends in their 80's who strongly object to being called survivors. "Makes us sound as if we are sitting in death's waiting room".

This nomenclature problem is very difficult indeed. It would be interesting to get some opinions on this.