According to market research firm Canadean, older consumers – known as the ‘silver segment’ – are rejecting traditional techniques used to market products to older consumers.
“Often stereotyped and perceived as having a homogenous series of preferences, seniors have historically been categorised and targeted solely by age,” Canadean Analyst Jamie Mills said. “However, consumers in this age group are seeking to convey their own identity, style, and personality through the products they buy, and brands should not overlook this.”
The company’s report found that 77 per cent of consumers aged over 55 agree that they feel younger than they are, but are also unconcerned about the age they look or want their looks to reflect their age.
“One of the most pervasive stereotypes takes a highly youth-centric attitude towards ageing in assuming that older consumers have a universal desire to look younger,” Mr Mills said. “However, our research contradicts this view, highlighting a common misconception of this consumer group. It will be essential for brands to challenge these stereotypes in order to unlock the potential of this segment both now and in the future.”