In a recent research study, it is suggested that companies should start planning for the 100 year-old consumer. The prediction is that half of all babies born in wealthy countries since the millennium will live to reach their century. And this is market segment is likely to be markedly different from the grey market as we now know it. They may well be living in a community built around interests and lifestyles rather than their age-group, have undergone plastic surgery to enhance their looks in their 80’s, and have benefited from financial products which had projected their effectiveness as long as 50 years previously!
The study examined people’s attitudes and behaviour around these issues amongst 20-70 year olds in the UK, US, Netherlands and China. Two main opportunities appear to have surfaced.
One is making sure that your products are simple enough for the older generation - it suggests you think about what you would want if you were 100 years old now.
The other is to see what companies and their brands can offer those in their 30’s now, in order to help them prepare for their old age.
The challenges will of course vary - but hints of what brands should be considering include looking at ageing in a more positive light, new financial services to suit the market, small business banking to suit older entrepreneurs, life coaches for the segment and user friendly technology.
Of course in the mean time, if you’re looking for prizes for any age - Unmissable has hundreds, no thousands of examples to refer to!