Who’s Spending? Consumers 50+ More Willing to Buy

As the recession pounds on, retailers are finding that consumers over 50 are typically the ones spending—and companies such as Target and Kraft are spending more marketing dollars to advertise to this demographic.

While older generations were formerly deemed less likely to try new products or betray their brand loyalties, now advertisers are realizing that seniors are simply looking for sales (brand loyalty be damned). In addition, many older consumers don’t have mortgage or “first in, first out” layoff worries like their younger counterparts.

More food for thought: Grandparents.com plans to release a study predicting that, by 2010, households headed by men or women age 55 to 64 will have the highest median income.

For more on the over-50 purchasing demographic and how companies are tailoring advertising campaigns to attract older buyers, click here.

Source:

The New York Times: The Older Audience Is Looking Better Than Ever

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