41% of americans are over 50
80% of congress is over 50
50% of voters in the last election are over 50
people over 55 own 77% of all finanical assets in the US
45% of consumer spending (2.1 trillion) is by people 50 and over
by 2011 there will be over 100 million over 50 year olds in the US
if your over 50 now, you likely have another 30 years on you “clock”
the kids may be the future market, but for the next 20 years the “old bastards” still have all the money.
A fool & his money are soon parted and the young usually have a bigger share of foolishness. That’s why they are the focus. Or were, I guess because who wants to stay young as much as possible - aging baby boomers.
dunno about that. it’s usually the old people that fall for scams,crap products and businesses and stick to the tried and true, while everyone the young advances, is more cynical (check facts), and less easy to pry a dollar from their hand.
I’d say the old and young can both be equally foolish, the only difference is the young have more time to learn from their mistakes and bounce back, while the old get hussled and lose their pension only to end up on welfare.
not to mention if you grab a consumer while their young, you can have another 50+ years of dedicated brand loyalty, but the older generation market just keeps declining as they become extinct.
You MAY have 50 years, doubtful as the young are not very much into commitment so they will be off like butterflys to the next hot thing. The other thing to remember is the death rate for younguns tend to die from accident at a alarming rate. The final thing is this, lets say you get their brand loyalty, so what they dont have 2 free nickles to rub togeather. The old often put their trust in “experts” when it comes to money managment, or fall prey to a emotional plea but that is a small minority. It takes time to become wise, cant download it off the web into your ipod.