Age-based targeting losing appeal for increasingly dynamic senior consumers, says Canadean
08 November 2016
Traditional techniques used to market products to older consumers – also known as the ‘silver segment’ – are not necessarily relevant or effective today, as the demographic has started to reject outmoded stereotypes associated with aging, according to consumer insight firm Canadean.
The company’s report finds that 77% of consumers aged over 55 agree that they feel younger than they are. As the Asia-Pacific region is home to some of the oldest populations worldwide, it is becoming increasingly essential to understand the diverse needs of this growing and dynamic consumer group.
Jamie Mills, Analyst at Canadean, explains: “Often stereotyped and perceived as having a homogenous series of preferences, seniors have historically been categorized and targeted solely by age. However, consumers in this age group are seeking to convey their own identity, style, and personality through the products they buy, and brands should not overlook this.”
Based upon the company’s recent research, Canadean’s presentation at InCosmetics Asia “Speaking to the new silver: Seniors today vs. tomorrow” will examine how the silver segment is evolving through their behavior, preferences, and attitudes, and in doing so identify key innovation opportunities to explore to meet the needs of this redefined consumer.
According to Canadean’s research, the majority of consumers aged over 55 in Asia-Pacific say that they are unconcerned about the age they look or want their looks to reflect their age.
Mills continues: “One of the most pervasive stereotypes takes a highly youth-centric view towards attitudes towards aging in assuming that older consumers have a universal desire to look younger.
“However, our research contradicts this view, highlighting a common misconception of this consumer group. It will be essential for brands to challenge these stereotypes in order to unlock the potential of this segment both now and in the future.”
- Canadean will be presenting “Speaking to the new silver: Seniors today vs. tomorrow” in the Marketing Trends Theatre on Thursday 10th November at InCosmetics Asia
- The presentation will be based upon Canadean’s report: Speaking to the New Silver; Targeting the evolving senior segment
- Comments provided by Jamie Mills, Analyst at Canadean.
- Information based on Canadean’s report: Speaking to the New Silver.
For more information
Please get in contact if you have any questions to this or other Canadean reports. Analysts are available to comment. Contact the Canadean press office on +44 (0) 161 359 5822 or email firstname.lastname@example.org.