Billions in a blind spot: The demographic marketers can no longer afford to ignore
Nunn Media Sydney’s head of strategy and innovation Georgia Butler, says marketers are out of excuses when it comes to prioritising the 55 to 64 age group, the largest share of household wealth in Australia.
Two weeks ago Nine and Kantar released ‘Blindspot’, a timely piece of research which identified Australians aged 55–64 as a new power group of highly valuable ‘Super Consumers’. It found that this power posse is not only the fastest growing age cohort in the last two decades, they also have the largest share of household wealth in any age bracket and are responsible for up to $2.3 billion in weekly household spending.
While the research was enlightening, it left out one key point; not only are they a highly desirable target audience, they’re also, thanks to COVID lockdowns, cheaper and easier to reach than they’ve ever been before. Marketers are out of excuses when it comes to prioritising this audience.
