Younger consumers seem to get all the focus when it comes to eCommerce and digital payments, but older citizens are out there shopping, buying and paying.
Source: Seniors Help Drive Digital Economy Progress | PYMNTS.com
The founder of EVELO Electric Bicycles explains how changing his business model to target boomers paid off and why other entrepreneurs should do the same.
Source: Why It’s Smart to Focus a New Business on Boomers
This report explores the senior population in the US, its spending power and spending habits, as well as spending in core retail categories to understand how seniors allocate their budgets.
Source: Silver Consumers in the US, 2019 | Coresight Research
Made for Millennials, the on-demand economy is transforming the food business. Rather than killing the kitchen, Millennials are stimulating innovations (heat & eat foods, meal-kits, meal delivery) that family caregivers can leverage and the oldest old can use to stay independent & healthy.
Source: 3 Food Trends Inspired By Millennials That Older Consumers Are Eating Up
Elderly online celebs earn millions of fans on short video apps like TikTok and Kuaishou
Source: Forget millennials: China’s newest internet stars are senior citizens | Abacus
23 May 2019 — As sugar becomes more central to the obesity debate, its reduction is becoming a major dietary target for many consumers. This is manifesting itself most clearly in the Baby Boomer demographic (born 1946-1964). Innova Market Insights research shows that one in two US Boomers have been reducing their sugar intake or buying more reduced sugar products, while two in five are cutting back on their consumption of sweet snacks.
Source: “No longer sweet young things”: Boomers drive demand for sugar replacement, says Innova Market Insights
“Baby boomers”, all now over the age of 50, have shown the fastest rise in rates of alcohol and drug misuse over the past 15 years – and this is playing out on Britain’s roads.
Source: Baby boomers are more likely to drink and drive than millennials | The Independent
Women have been conditioned to dress a certain way once they reach 50, but many are increasingly defying the staid conventions of style
Source: Opinion | Fashion over 50: are brands finally discovering the potential of more mature consumers? | South China Morning Post
Obviously, young consumers are a perpetual target for brands, but a single-minded focus on younger consumers can lead businesses to miss opportunities.
Source: Why Consumers Over 50 are a Smart Bet and How to Win Them Over