prime time: the value & buying power of older adults
the spending habits of marketing’s most valuable generation
The hype about millennials and Gen Z continues, but the reality is that while they are strong in numbers, they are much less impressive when it comes to buying power.
Boomers are by far the wealthiest demographic with the biggest spending power, but even if we just compare “older adults” with “younger adults” we see huge differences in wealth. Adults 55-64 in Canada have a combined yearly income of $351 billion, far exceeding the $313 billion for Adults 25-34; the discrepancy in wealth is even bigger, with Adults 55-64 sitting on a combined $1,381 billion, compared to $331 billion for the younger 25-34 group.
Think you don’t need to advertise to older adults? Think again: Older adults are no more brand-loyal than younger adults. Without frequent reminders, the consumers you don’t reach will stop reaching for you — and your products.
Focusing on younger adults and ignoring the lucrative older adult group means leaving significant money on the table. And the best way to reach this lucrative demo? TV of course.
Download the report to find out more.
