Despite older Americans accumulating a record amount of wealth and poised to spend more in the coming months, brands still tend to focus their marketing efforts on wooing consumers under the age of 50.
Ageism is pervasive in marketing, to be sure, with a 2021 AARP survey showing that 62% of consumers 50 or older wish ads had a more realistic image of people their age, and 47% agreeing that ads of people their age reinforce outdated stereotypes.
By 2030, the 50-plus market is expected to spend on average $108 billion annually on tech products, according to AARP, and are preparing to splurge on travel this year. Pre-pandemic, Americans age 50-plus planned to spend $7,314 annually, on average, for travel, while this year older adults will plan to spend $8,369, according to the AARP.
Yet, the ad world is still focusing its attention on younger demographics, both in its external marketing and who they are valuing internally.
Flanik joined Remotely to discuss how the ad world needs to re-think aging and how it values senior creatives amid new realities of hybrid work and with a move into the metaverse.