According to Zillner, a senior-consumer research and marketing agency, marketers may be overlooking opportunities to reach the lucrative senior market with so much emphasis on marketing to younger generations. Their research reveals the buying power of older adults, including:
- The senior consumer market is more than 100 million strong.
- Spending in the 50+ age category is estimated at $3.1 trillion across all industries, except health care.
- Seniors experience more lifestage changes than young adults, including second careers, retirement, parenting adult children, divorce, remarriage, widowhood, grandparenting, empty nesting, and caregiving.
- Boomers and seniors are becoming more culturally and racially diverse than any previous older generation.
Further insights on the power of the senior market are contained in Part 1 of a free report from Zillner, All the Wiser: Senior Consumer Insights and Outlook.