50 really isn’t old. I keep telling myself that over and over as I get closer and take comfort in the ever lounder noise about this market and the need to take it seriously.  But what is old in reality? 

All the research I have done and been party to tells me you have a notional split between the young old (sort of 50-70) and the old old (70+). Of course never really that simple but a starting point that is easy enough to grasp.

I will look at the young old for now and I’ll resist the temptation to give them a tag for as long as possible (but that is surely a massive opportunity). Based on the data I have seen this age group is c20million adults in the UK and forecast to grow substantially in the next 30 years as living longer starts to fully kick in.

Lets zone in a bit further on what defines this group:

  • Go on the most holidays annually  
  • Over 9million are still working 
  • Have the most savings c70% of all in the UK (£6.2 trillion according to Saga last year) 
  • More than 75% believe the skills and talents of older people are underused 
  • Tablets are the must use device and close to 90% of over 50s have the internet at home 
  • In 2015 over 50s spent £39bn on travel 
  • 40% book holidays online direct with the travel company 

Bit of number wang but gets the point across hopefully. Within this group are genuine consumers with money to spend and key needs to fulfil.

So What? 
However you split this group up there is a gap they aren’t acknowledged and talked to and the fact that age really isn’t the differentiator attitude/health/wealth being better down differentiators.

If you’d like to target this valuable group and make more more money for your business please get in touch and do follow me on LinkedIn and Twitter. I’d also ask you to share this blog and my mission with anyone you know who might benefit, be looking for  expert help.

#50notout

Julian

Stats c/o of silvertraveladvisor, my friends at December 19th and various searches on google