The population pyramid is inverting, we can see it every year in the data of the National Institute of Statistics: currently more than one and a half million people are over 50 years old and in 2050 this figure will double.

Although many companies are focusing their efforts on attracting millennials, many others are increasing their interest in this segment of the population: seniors.

Your Consumption Habits

Seniors, matures or baby-boomers are the segment with the highest purchasing power: they are present in half of the country’s households and represent 56% of the mass consumption market in Spain. At the European level, they control 70% of the wealth. This is too important a generation to ignore.

The three sectors they appreciate the most are food, fashion, and automotive. In addition, unlike later generations, seniors place greater importance on health and family life, which is reflected in their food choices and daily habits.

Although they are not native, they are digital

Although at first glance it may seem that matures do not use new technologies, without being digital natives, they have adopted and implemented them in their lives. For them, the internet has become the perfect tool to find the information they need, even above television and the press.

Internet users over the age of 50 have almost doubled their use of social media in the last year and use the internet to find out about future purchases, find discounts and check the news.

The aspects most valued by seniors

Today’s seniors have transformed their vision of brands and, therefore, companies that understand these changes will have a competitive advantage. This generation is becoming more and more demanding of brands. It is not enough for them to be known, they have to be real, authentic, transparent and honest with their values and their promises.

The aspects that this generation values the most, from most to least important, are:

  1. Make the brand honest
  2. That contributes to society
  3. Take care of the environment
  4. Make it responsible
  5. That it is innovative and/or technological
  6. Make it efficient
  7. Make it a difference in your sector
  8. That it is close, close to the citizen
  9. Make it modern
  10. Make it known

In addition, creating communities around the brand and maintaining communication with an optimistic, energetic and active tone are traits that this generation values positively.

 

 

As always, there is no magic recipe. Age doesn’t matter and stereotypes don’t appeal to anyone. Brands must focus on their core values, build behaviors, and convey emotional factors that really connect with their audience. The key is to find your own insights that appeal to life experiences with real meaning.

If you want to learn more about this generation, you can download our BrandGuide #4 Brands and Matures.