THE RIGHT LANGUAGE
Although the over-60s still represent the smallest of the key age groups, their growth has been more rapid than any other consumer segment over the decade to 2015, at 34 per cent.
In contrast, the number of under-18s crept up by just 3 per cent. The over-60s saw their share expand from 10.3 per cent in 2005 to 12.3 per cent in 2015.
Consumers’ desire to hold back time will ensure a large and growing market for anti-ageing products of all kinds and will provide an opportunity for manufacturers to adapt and segment their products to meet differing anti-ageing needs and expectations at all stages of life.
Consumers are likely to choose a holistic path to ageing, whereby they pay attention to wellness of mind and body to ensure they stay fit and healthy for longer.
Studies show mature consumers do not want to be treated as one homogeneous group by marketers.
Finding the right language can be tricky, considering people do not want to be viewed as “old”. US studies show words like ‘senior’, ‘ageing’ and ‘retiree’ often receive a strong negative response.
However business chooses to approach this new reality the overriding motto of the future will be to ‘grow old gracefully”’.
You can read Euromonitor International’s full article here.