Here's a question — whom do you consider aspirational? Who do you respect, admire, look up to, and aspire to be like?
Of course, your answer will be unique to you. But did age play a part in your selection process? Did you avoid people older than yourself? I struggle to comprehend why so many marketers and advertisers assume that age relates directly to aspiration. And for the record, my list includes David Attenborough (aged 99).
It's a commonly held belief amongst advertisers that older = undesirable, particularly to younger audiences. The result is that older consumers are ignored, or at best represented with lazy and condescending stereotypes to promote slippers, funeral plans, and walk-in bathtubs. This obsession with youth is infuriating, not just because it's wrong, but because it makes absolutely no business sense, or common sense for that matter.
Two Examples
I vividly recall working on a shampoo brand and observing that well over half its purchasers were women 50+, representing a great opportunity to establish a powerful, focused position. I lost the argument because the client feared they might "alienate" younger consumers. So a product that was of greatest appeal to older, mature women (the ones with money to spend) was actively targeting twenty-somethings — effectively "alienating" its core customer.
Here's another example. The average age of a new car buyer in the UK is 54 (it varies by marque; for Toyota, it's 63), not that you'd know it by watching car advertising. The over-50s account for the majority of all new car sales, but you'll be hard-pushed to spot a new car ad that features its real customers.
Rise of the Grey Pound / Gray Dollar
People are living longer. The over-50s are the fastest-growing segment of the population on both sides of the pond. In the US, there are 124 million people over 50 years old.
According to a Saga report, the over-50s are the most valuable generation in the history of marketing — they have all the money (70%+ of household wealth) and active lifestyles. The over-50s now outspend every other age bracket on alcohol, cars, food, health, recreation, culture, travel, household goods, and services. And in case you thought they're not tech savvy, 93% of adults in the UK (89% in the US) aged 55-64 own a smartphone.
Yet according to Havas Group, only 5% of advertising is even aimed at people over 50, and this has a direct impact on brand choice and loyalty. A recent AARP survey found that 62% of adults over 50 (70% of women 50+) would consider switching to a brand they feel better represents their age.
So Why the Obsession With Youth?
One imagines the main argument marketers use is that younger audiences represent higher lifetime value (LTV), even if that means they will have to cultivate them for decades before they can actually afford to buy that product. What are you going to do in the meantime?
That makes no sense. Aspiration doesn't have an expiration date. In their obsession with youth, advertisers are making a terrible miscalculation.
Look at it this way. Here's a ranking of the most popular actors amongst Millennials (aged 25–39) according to YouGov:
- Keanu Reeves (61)
- Morgan Freeman (88)
- Denzel Washington (70)
- Samuel L. Jackson (76)
- Sandra Bullock (61)
- Jamie Lee Curtis (66)
- Julia Roberts (57)
- Anne Hathaway (42)
- Emma Stone (36)
- Scarlett Johansson (40)
Nine out of ten are not in their age bracket. Gray Market people are admired and seen as aspirational. Proving there is no use-by date.
Stop
Stop ignoring them.
It's all too common for older women, in particular, to use language like "I feel invisible" or "I disappear" when talking about how society treats them as they age. Advertisers make this mistake all the time. Ignore them at your peril. They'll vote with their wallets.
Stop assuming older people dream of being young again.
Most don't. It's a simple trap — confusing 'youth' with 'youthfulness'. The former is a state of time, the latter is a state of mind. Data shows that 35% of UK adults (25–59) feel dissatisfied with their body image. For older adults (60+), it's only 28%.
Stop falling into the stereotype trap.
Advertisers need to understand that the over 50s don't spend all their time shopping for slacks with elasticated waistbands, nor stand dreamily on yachts smug in the knowledge that they chose the right pension. A YouGov report revealed that a staggering 79% of over 50s claim they feel patronised by advertisers, whilst 80% believe brands' representations of their age group are NOT accurate.
Start
Start celebrating age as a positive thing.
As Mark Twain once said, "Age is an issue of mind over matter." Whilst advertisers seem to think that older people are in denial and want to be young again, in truth, there are very many glorious advantages to age. We have experience and knowledge. Been there, done that.
Start letting older audiences see themselves in your advertising.
Representation should be such an obvious thing; it's remarkable that we even have to say this. The opportunity for marketers is crystal clear. One of the brilliant, sadly rare, examples of getting this right is Dove's "Beauty Never Gets Old" campaign.
Start hiring (or at least stop firing) people who represent your primary audiences.
In its agency census, the IPA estimates that less than 6% of UK agency staff are aged over 50, with an average age of 34. I find this shocking, not only because I'm in that age bracket, but because I simply can't understand why agencies place such little value on experience, when clients place so much.
In Summary
The over-50s are the fastest-growing, wealthiest consumer segment. Fact. And yet they remain ignored, misunderstood, misrepresented, occasionally offended. It's tragic, mainly for the missed opportunity. Surely it's only a matter of time before brands wake up, throw off their misconceptions, and transform their marketing and business for the better.
Stop overlooking Gray Market consumers and start celebrating them.