Tapping into older market

Still plenty of life in retirees

OVER-60s represent a huge missed opportunity when it comes to marketing, according to some experts, with our longer life expectancies meaning retirees now have much longer to enjoy whatever life sends their way.

Over the past century, lifespans have increased by 25 years and today people can expect to live, on average, well into their 80s.

And with the steady advance of medical science we can probably expect that number to keep rising.

This means that those in their 60s are spending more time taking care of their health and carefully managing their finances in anticipation of having another 20 years ahead of them, or more.

Yet according to data by leading global market research

company Nielsen, Baby Boomers (born in the post-WWII baby boom of 1946-64) control more than 53 per cent of Australia’s wealth and are responsible for more than half of all consumer spending, buying 80 per cent of all leisure travel.

And yet advertising and media companies and marketers continue to show a bias towards the 18-49-year-old market, considering over-50s to be irrelevant, which they probably do at their peril.

Founder and CEO of Australia’s first mature media and social brand start-up, Starts At 60, Rebecca Wilson, 41, started her business only four years ago and now employs 19 people in Brisbane and last year Seven West Media invested millions in the company.

Former business manager Brad Woods, 64, from Hobart, knows that if he wants to enjoy that long retirement, he needs to keep his body functioning as well as he can for as long as he can.

“It’s when you stop moving that health problems start catching up with you,” he said.

“I don’t feel 64 at all.”