In a recent report released by leading demographer and social commentator, Mark McCrindle, the average Australian household aged over 55 has a net worth exceeding $1 million, largely due to rising property prices over the past few years in major metropolitan centres.
Many are still in full time employment, have low or no mortgage commitments and have significant discretionary spending power. They are some of the biggest purchasers of travel, wine, home renovations, furnishings and home wares, cars, computers, mobile phones and eating out. Most are social media savvy, educated and informed.
Yet they are often overlooked by marketers as serious consumers.
You have no doubt seen those ads that show “seniors” grappling with social media. But you may wish to review your thinking as this group is one of the biggest contributors to review sites such as Trip Advisor. They are also one of the fastest growing groups purchasing online and are frequent users of sites such as eBay – Australia’s top shopping website. And they are more likely to be paid subscribers to online news sites.
The latest ABS Census figures show that the over 55 group is growing in Coffs Harbour. If this is one of your key markets, there are a few simple tips that will help make doing business with them easy. Remember, this group has been around long enough to easily identify your intentions – give them what they are seeking and show you value their business.
If you found these tips useful see the other related blog posts below!
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