While US marketers obsess over Gen Z and Gen Alpha they are “blind to the 50+ audience”, says the founder of a Los Angeles advertising agency specialising in attracting the older age group. “Last year was the year of aging”, says Susan Lee Colby of Grace Creative. The over 50s market has changed, but marketers have not. Yet that market holds 70% of US disposable income and $86tn in wealth. “That’s equal to the world’s third-largest economy. While this audience spends up to five times more on luxury, travel, wellness, home, finance, auto and even tech for themselves and their families, on average only 5-10% of marketing budgets target this audience.” Meanwhile Joe Churchill, founder of digital agency Fan Club, notes that the over 55s are the the fastest growing demographic on YouTube. “Too often, we’ve seen brands and agencies treat social platforms as places only to reach young audiences, when in reality we’ve long passed the tipping point and social is now ubiquitous.”
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