Insights

Significant Events Likely To Impact 50+ Spending

August 22, 2017

  • Age milestones are a wake-up call to establishing long-term financial security, necessitating a heightened focus around planning and investing..
  • Becoming an empty nester creates new housing considerations—whether downsizing, remodeling, moving or buying a second home.
  • Family cars are replaced by vehicles that meet evolving lifestyles, as reflected by the 67% of all new hybrids and 31% of all motorcycles purchased by 50+.
  • High rates of job and career changes create opportunities around connectedness, technology needs and skill building for the 39% that have home offices. In fact, 50+ represent 46% of workers who primarily work from home.
  • Health becomes a daily priority with a new focus on prevention, maintenance and management, providing new opportunities for food, health and weight loss marketers.
  • Given that nearly one-third of people age 50+ become separated, divorced or widowed, new opportunities emerge around apparel, beauty, entertainment, fitness and dating.


The 50+ are looking to marketers for guidance in making the right purchase decisions for themselves, their families and their futures. Companies that provide products and services that meet the changing needs of this audience will thrive.
 
Source:  
MRI Fall 2014

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