6 October 2016
|
beautystorebusiness.com
BraunS,
gettyimages.com
The fast-growing over-50
crowd wields impressive
buying power, but when it
comes to speaking their
language, marketers may
be missing the mark.
by Tracy Morin
MARKETERS ARE OBSESSED WITH DISSECTING THE
buying habits of millennials, but there's another "M" category
that deserves your attention: the mature market. Formerly the
realm of baby boomers, the earliest Gen Xers now are joining
the pack, making for a massive group of individuals who have
money to burn and are deeply invested in looking their best.
"Shoppers over 50 represent the most powerful, affluent group of
consumers in today's market," notes Kathi Scharf, vice president
of operations for Immersion Active/Inspire Influence, based in
Frederick, Maryland. "These consumers are, in general, reaching
their top earning years and control the majority of wealth and
disposable income in the United States—and most of that
wealth is controlled by female consumers in this age group."