Savvy brands are taking notice of a huge, affluent, but largely neglected demographic — Baby Boomers.
This new-old demographic has always included intrepid travelers, concert-goers, and avid readers, but now they are empty-nesters and represent a $15 trillion market. This Silver Economy presents a whole new proposition — of fashion followers with failing eyesight; gym enthusiasts with aging hearts; hipsters with hip replacements — that requires a whole new mindset from brands vying for their attention and spending. That means smarter technology, like iPhone compatible hearing aids, or this inclusive re-engineering of the iconic Black Magic box of chocolates from Nestle, with larger fonts and easier grab-handles, and finally putting the “slippers and cocoa” image to bed. It’s a rapidly changing world out there beyond fifty. Is your brand’s strategy moving with the times? You might want to put a fashionable grey streak in it.