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Magazine al.com consumers between 50 and 65 years old, a target to be taken into account by brands

By hollisterclothingoutlet 21/05/2022 521 Views

People between the ages of 50 and 65 [also known as bloomers: a name derived from the union of boomers (baby boom) and bloom (to flourish)] - currently account for 21% of the population, a percentage that will rise up to 25% in 2030. This fact, together with greater purchasing power in relation to other consumer segments and a special way of understanding life, has meant that in recent years they have become an interesting target for brands. To get to know them a little better, find out their motivations and values, GfK has recently organized an event in Madrid aimed at the consumer goods and distribution sectors.

The meeting included the interventions of Adolfo Torre, Marketing Director of the Meals Iberia Division of Mondelez International, and María Luisa Chacón, Communications Director of Victoria de Procter & Gamble. Together with them, the GfK researchers participated: David García, Consumer Goods Business Director; Ileana del Río, Consumer Goods Research Manager; Pablo Torrecillas, Market Opportunities and Innovation Director; Irene Cuezva, Head of Value Added Solutions and David Atanet, Head of Digital Marketing Intelligence.

Bloomers are those consumers between the ages of 50 and 65 who live life without giving up small pleasures, always calmly and adapting to changes. We are facing a segment of the population that has experienced the great transformations of the last decades in all orders and that today enjoys these advances. For example, and focusing on large consumption, during their childhood this group drank milk with no expiration date, used cloth diapers, dispensed with sun protection and only knew sliced ​​bread, white and with a crust...

Keys to approach bloomers

Ileana del Río, Consumer Goods Research Manager at GfK, and Pablo Torrecillas, Market Opportunities and Innovation Director, were in charge of explaining the findings of the global Consumer Life study and showing which are the pillars on which brands must rely to approach this segment.

To begin with, they pointed out that this is an age group that mostly lives with a partner (73%), with a high rate of divorcees (12%, twice the total population) and mainly in single-family homes. empty nest (30%). However, there are still 14% who live with children over 15 years of age and 7% with children under that age.

Their purchasing power stands out, since more than half of them have a high salary level and a high spending capacity, since they tend to have fewer loads at home. In figures, they earn 30% more than the rest of the population and spend 70% of their income.

revistaaral.com Consumers between 50 and 65 years, a target to be taken into account by brands

And, finally, another important aspect is that they do not like to talk about "aging" but about "growing up well", understanding by growing up the conviction that they are going to age better than their parents and that they have a long life and time ahead of them. . "Bloomers assume three thoughts: we all feel ten years younger; age does not matter, attitude matters; and there is nothing wrong with your age," explained Ileana del Río, adding that "at this age the consumer is not interested in anti-aging, but in turning years naturally".

Pablo Torrecillas, for his part, affirmed that "we are facing a segment wanting to try, to enjoy, willing to break schemes and satisfied with their environment, their work and their leisure time. And the data corroborate it: the 50% say they use sex toys, and 69% understand that traveling for pleasure is one of the factors that allows them to have a good life."

Honesty and simplicity

In the first place, honesty, understood as sincerity, integrity and coherence, is the value considered the most important by 84% of these consumers. And in this search for honesty, 7 out of 10 declare that they would like to live in more harmony with the environment, 63% want brands to be responsible with the environment and 64% try to buy products of local origin.

Regarding simplicity, simplicity is the value that has grown the most in this group of consumers, rising 12 points in the last year to reach 75% of responses. In fact, it is very typical of this segment above other age groups and is related to the so-called hygge (the happiness of small things, advocated by Scandinavian cultures). 62% enjoy their home, 52% enjoy small indulgences, that is, indulge in simple treats within their reach, and also more than half consider that experiences are more important than material possessions.

High purchasing power and spending capacity

Next, Irene Cuezva, Head of Value Added Solutions at GfK, presented data on the income and expenses of bloomers, based on the big data tool Consumer Wallet, which authoritatively analyzes the financial transactions of more than 75,000 netizens. According to these data, 54% of internet bloomers have an income of more than 50,000 euros per year and 34% more than 70,000 euros per year.

In addition, their purchases account for 29% of the total spending of the Internet population over 18 years of age and they tend to have a higher average ticket for their purchases.

When looking at where they spend their money, it stands out that 16% goes to the retail sector, 17% to the purchase of products or services related to their well-being (health, safety and beauty) and 14% to the leisure sector and travel.

For his part, David Atanet, Head of Digital Marketing Intelligence at GfK, explained the results of a passive measurement of digital consumption in more than 9,000 Internet bloomers. It is significant to see that 88% use their smartphones to navigate, although when making purchases they prefer to use a desktop computer.

In addition, 86% of Internet users over the age of 50 spend around an hour a month dealing with finances online. 90% visit a distribution page every month and for this they preferably use their smartphones (161 minutes) instead of the PC (151 minutes).

It also stands out that, on mobile phones, WhatsApp is the application used by the vast majority (80%), while Facebook is the social network par excellence for 72%. However, in bloomers a behavior completely contrary to that of millennials is observed, since they spend more daily time on Facebook (24 minutes) than on the aforementioned messaging application (14 minutes).

Women over 50 in the spotlight

The event closed with the participation of Mondelez International and Procter & Gamble, who showed their respective experiences in the development and communication of specific products for people between 50 and 65 years of age, with special interest in women in this segment.

Adolfo Torre, Marketing Director of Mondelez's Meals Iberia Division, focused his speech on the strategy developed by Philadelphia cheese spread to approach this age group. As Torre explained, "in 2013, the Philadelphia brand experienced a halt after 20 years of growth. At that moment we decided to investigate and talk to consumers. We discovered that our most important consumers were women over 50. How to reach them? Investigating and understanding them. They are consumers who are at the moment of picking up, who have spent their whole lives sacrificing for others and for whom now is their moment. They have more money, indulge in more whims and are brand-seekers – they trust brands and make them to buy. In addition, they want to age well: health is an obligation". Marketing specialists who have doubts about focusing on this group are encouraged to bet on it: "Our brands can have significant growth in the coming years thanks to them."

For her part, María Luisa Chacón, Director of Communications at Victoria de Procter & Gamble agreed on the need to develop products knowing and talking to consumers. In her presentation, she showed the implementation of the Victoria project for women over 50 years of age. "With the new social reality, the quality of life and economic income, this segment behaves differently from millennials and households with children. Women over 50 are very experts, they take care of themselves and celebrate their age. Women today are doing things that their grandmothers or mothers never thought they could do. They manage social networks, travel where they want and start exercising," according to Chachón.

However, she pointed out that 79% of women over 50 still feel they are not being fairly represented in the media. And it is that women of this age do not always feel understood by their environment, both social and family. This fact contrasts with one of the main lessons learned by the brand, which is that, like men, women gain with age.

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