January 17, 2015 - Comments Off on Your market is maturing, so should your brand.
No doubt about it.
You’re seeing the numbers correctly. And they’re big, or bigger and growing every day. So it’s time to look at the new year ahead and brush off the branding cobwebs and start looking at who’s out there doing a terrific job of making their brand better and more relevant. Maybe that’s you?
Freed from the constraints of raising a family and with more time of their own, mature consumers seek products, services, and activities that complement their desire to live life to the fullest. The mature market has over $1.6 trillion in spending power and a net worth that’s nearly twice the U.S. average. The facts speak for themselves — the mature market represents a tremendous opportunity across all categories.
Senior living. The brand.
Not for profit, for profit, CCRC and the category of senior living is often misunderstood. Ever think about a community advisory board to educate your market? Tear a page out of successful advertising and communication techniques. Agree on your position, message, and see how to develop and execute a strong campaign that sells your promise to the market: adult children, seniors, professionals, HR management at major industries and companies, even in home care partners.
A few numbers for the New Year.
- The most affluent of any age segment
- Larger than African-American and Hispanic market segments combined.
- Account for 60% of all healthcare spending
- Purchase 74% of all prescription drugs
- Buy 51% of all over-the-counter drugs
- Acquire 41% of all new cars
- Purchase 25% of all toys
- Account for 80% of all luxury travel
- Spend $7 billion online annually
- Fastest growing segment on the Internet
- Spend more time online than teenagers
- Adults 50+ control a household net worth of $19 trillion.
- Own more than three-fourths of the nation’s financial wealth
- Own 70% of all money market accounts and certificates of deposit assets
- Have an income per capita that is 26% higher than the national average
- Spend more than one trillion dollars on goods and services
- The largest 55+ population resides in California, New York, and Florida respectively
- 42% of museum visitors are 55+
- Spends more per capita on groceries, O-T-C products, travel and leisure than any other age group
- Travel ranks among the top leisure activities for men and women over 50
- Mature vacationers travel more frequently than any other age group and stay longer
- 55+ households are the fastest growing user segment to embrace computer technology
- 22 million adults 50+ are now online, representing 28% of the 50+population. *
Resin is the Bay Area advertising and branding experts in marketing to seniors. We’ve repositioned, rebranded and relaunched senior living communities in California, Ohio, Wisconsin, and Virginia. Resin has increased occupancy, awareness, and brand expectations on what a senior living community can be. Smarter digital and analog strategies, creative, and brand management help our clients always elevate with thinking that’s simple, fresh, and relevant.
When you want to talk to seniors, talk to us.