Older Australians are being overlooked by marketers and agencies who remain fixated on the traditional age demographics, according to research from Nine and Kantar.
The Blind Spot report found that advertisers are failing to target Australians aged 55-64 with high disposable incomes and are instead continuing to focus on 25-54s and 16-39s.
“There’s a blind spot in a lot of advertising and it’s a gap worth $2.3 billion in weekly household spending,” says Richard Hunwick, Nine director of sales for TV & radio.
“Our research paints a clear picture of how the 55-64s are the new power group of highly valuable super consumers.
“The problem is the conventional framework for targeting this group. It is outdated and leaves marketers missing out on extending their target market into a demographic which can actively drive growth in their brands.”
The research suggests brands expand their focus to include the 55-64-year-old demographic as their household consumption is outstripping 25-34-year-olds. The research also found that this age group are “super consumers” with a higher net wealth.
"Our research has shown that too often this group is shown as being in a life stage of decline when life is actually on the up,” says Denise Hamblin, Kantar head of sensory.
“They’re happier, more body-confident, more financially secure and less constrained by social expectations than younger groups, leaving them feeling ignored and stereotyped by media and advertising.
“There is an opportunity for advertisers to connect with them in a more aspirational light. To this end, we also know that inclusive advertising pays dividends – Kantar’s global advertising effectiveness work shows that including and portraying under-represented groups like the Super Consumers in a more positive and empathetic light can help with short-term sales lift and long-term brand growth among all consumers.”
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