Rise of The Silver Surfers
Connecting With The 50+ Consumers
I recently attended a conference in LA, The Progress Summit, organized by The Atlantic. What struck me, in particular, was a workshop presented by AARP: The Longevity Economy: Creating Opportunities for All Generations.
For a long time, I had difficulty finding my place in an industry where 30-somethings are prevalent, and there is a substantial age bias. However, after attending the AARP talk, I realized the valuable contributions those with more than 30 years of experience can bring to marketing. This is especially significant because about half of consumers are 50 years of age or older, and they have distinct needs and viewpoints, higher disposable income, and longer life expectancy compared to previous generations.
Between 2000 and 2019 global life expectancy increased by six years, from 67 to 73, and is projected to be 77 years by 2050. (Source AARP)
A good fit for us — and for our clients
The EU defines the Silver Economy as “The sum of all economic activity that serves the needs of people aged 50 and over, including the products and services they purchase directly and the further economic activity this spending generates.”
It stretches across all sectors (public and private) of the economy, including health and nutrition, leisure and well-being, finance and transport, housing, education, and employment.
Furthermore, the data shows that 50+ consumers have a projected spending power of $3.2 trillion annually which is expected to rise to $4.74 trillion over the next 20 years.
We learned that we could make a real impact by helping these consumers feel seen and heard through the power of branding and design by respecting their characteristics and sensibilities. It turns out to be a good fit for us — and for our clients.
The 50-plus population already accounts for half of the global consumer spending, and by 2050 this will reach nearly 60%. Older people contribute significantly to the global economy through direct spending on goods and services, both at home and abroad.
Worldwide, the 50-plus cohort accounted for 50% of global consumption in 2020, or $35 trillion,42 about 2.5 times as much as all consumer spending in the U.S. By 2030, we estimate that 50-plus spending will grow to 54% of global consumption, or $52 trillion. By 2050 it will reach 59%, or $96 trillion.
Why does it matter
The Silver Surfers are a unique group of consumers, diverse and vibrant, flush with money, and hungry for meaningful experiences. They want to connect with authentic brands that reflect their values. They don't respond to generic marketing fluff; they even pay for ad-free content. And they buy more than just hearing aids and golf clubs. Understanding their needs and wants is crucial when reaching out to them. Only if we speak their language, talk with them, and not to them, then we have a chance to be accepted as a vendor or partner.
We are GenX
Most creative firms struggle to connect with GenXers, either because they don’t understand this demographic’s unique experiences and perspectives or because they aren’t interested in targeting this group.
We believe we are different. We are specialists in the GenX market and work closely with our clients to develop branding and marketing campaigns that speak directly to the hearts and minds of this influential and valuable demographic.
Our team at Marc Posch Design is uniquely qualified to serve this demographic, as we are all part of the GenX generation. We are seasoned creatives with over 30 years of experience in the industry, and we understand the needs and desires of this age group. We live it every day.
As the “Silver Economy” continues to grow and thrive, we remain at the forefront of this creative industry sector, leading the way in reaching and engaging this critical and influential demographic.
Deep industry expertise
We bring deep industry expertise in various industry sectors, from biotech, pharmaceutical, and hospitality to new mobility. We can help you connect with GenX consumers in a meaningful and impactful way.
Contact us today to learn more about how we can help your business reach and engage this important and influential demographic. Below you can order our free brochure.
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Request the free brochure “GenX. Who Cares? We Do”. Get more facts and details about how to reach this critical demographic.
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About us
Our job is about design that creates impact: business identities, websites, or investor presentations. But mostly, it’s about removing blockages. It’s essential to being a full-blooded creative: presenting fresh and often unconventional ideas that clear obstacles, help overcome stagnation, and lead to innovation. When that happens, then I’m successful as a creative consultant. Asking “why” is often the first step, but more importantly, asking “why not” is what leads to breakthroughs. | MORE
Marc Posch + Opus, Los Angeles | +1.213.446.7986 | MarcPoschDesign.com
