If you’re reading this and aged between 51 and 59, watch out. Because the travel brands are after you. A new research study predicts that those in their fifties make up a demographic group that the travel brands are most interested in.
Why? Because you’re sandwiched between two other demographic groups and have learnt from both them of. From the older ‘Baby Boomer’ generation, you’ve learnt about life’s realities, such as the importance of jobs, mortgages and pensions. Whilst from the younger ‘Millennial’ generation you’ve learnt how to be tech-savvy.
The result? A large number of consumers that have an ‘interesting mindset’ and one that’s of most definite interest to brands. And not just interesting, but rich too. Nielsen estimates that by the end of this year, nearly 50% of the US adult population will be aged over 50 and who will collectively control over 70% of the country’s disposable income. This changing age profile isn’t restricted just to the US but includes a large number of European and Asian countries too.
The over 50s then, are not only taking over the world but are travelling throughout it too. They’ll happily experiment with Uber, Airbnb and mobile banking but will also drive a hard bargain, as they place value over luxury. They may be rich but they’re clearly not push overs.
And they may also be hard to pin down too. They could just as easily travel on a multi-generational family holiday, then book a romantic weekend break for two before treating themselves to an adventure holiday with their friends. So the same consumer but responding to very different marketing messages.
No wonder marketers love them to pieces.