When it comes to marketing to seniors, it’s difficult to see the picture when you’re inside the frame! Whether you’re a 35 -year-old ad executive or a 45-year-old store manager, mention people over the age of 50 and instead of opportunities they see mostly wrinkles.
Revlon sees both the wrinkles and money. The New York based cosmetic company is looking to recapture their glory by going after an under-served market: women over the age of 50. The company unveiled a line of makeup formulation for older women called Vital Radiance. Research showed that female heads of households over age 45 account for about 69.3% of cosmetic purchases at mass retailers. It didn’t take long for L’Oreal and Procter and Gamble to follow suit with their own collections marketing to women in their 50’s and 60′.
Another area where boomer women feel left out is in the field of fashion. Their blood pressure goes up quickly when they talk about fashion discrimination and the fact that women’s clothing simply doesn’t address their needs. Yet that demographic has the money to purchase the merchandise.
It’s estimated that 6,000 people turn 65 every day in this country. An estimated 15 to 25 percent of men over 65 suffer from erectile dysfunction. Nature’s way of saying no hard feelings. Pfizer recognized the market and spent $300 million dollars to perfect the little blue pill that solved that problem. Today these lifestyle drugs as they are called are all over the TV and in print making millions for the manufacturers.
With the holidays soon to be over and 2008 expected to be a lean marketing year, take a good look at the senior market and make your move toward more money!
