Nielsen is out to disprove one of the industry’s oldest beliefs: that consumers over 50 aren’t worth targeting.
Its research indicate that the 78 million baby boomers are a more attractive segment for marketers than the often touted Generation Y (also known as “Millenials”). Nielsen’s research suggests that the trend towards fewer children will result in smaller households and thus fewer younger consumers, and the recovering economy will lead to young families spending less and lower salaries for the younger generation.
Doug Anderson, Nielsen’s senior VP-research and thought leadership, states that America is likely to be a nation of a large older population and slower-growing younger one.
In 2010 so far, baby boomers account for almost 39% of all dollars spent on consumer packaged goods, 40% of total wireless services customers, and 41% of paying customers for Apple personal computers. And changing technology has unleashed new devices and gadgets that are new to all consumers, allowing brands to market to the often forgotten age 50+ consumer. Yes, contrary to popular belief, baby boomers don’t just need life insurance and dentures; they want cell phones and iPads just like the rest of us.
At PowerDirect, we’ve developed thousands of targeting plans for clients, but I’ve rarely seen marketing plans directed at baby boomers. If Nielsen’s study proves true, new front-door marketing opportunities may be available for brands to reposition themselves with one of the largest US demographic segments, especially since this is a medium they’re familiar with.
Via Portada Online
A recent Portada survey of media executives in the Hispanic and Latin American sectors indicate that there are optimistic feelings of opportunities in these sectors.
More interesting than the survey results are the opportunities and challenges that the executives outline in their answers. Answers range from online marketing to event-specific promotions (i.e. the World Cup, etc.). And don’t miss the answer given by PowerDirect’s CEO:
“Opportunities: The most opportunities for our business for the remainder of the year likely will be with our retailer clients, as there has been a noted upturn in retail consumer spending. The recession has turned the corner and there is greater consumer confidence. As a result, consumers (including Hispanic ones) are expected to spend more discretionary income on various retail purchases including consumer electronics (think “IPad”). This will create an opportunity for us as our retail clients may spend more money on advertising in general and (hopefully) in our media in particular, since we are very targeted and can reach customers around their stores’ immediate trading areas.”
“Challenges: “The most challenging part of our business during the rest of the year (and beyond) will be to roll out our new brand positioning. “The Science of Front-Door Marketing”. We define this as “Tightly integrated blend of proven direct-response methodologies, leading edge monitoring and campaign metrics.” …Our challenge is to communicate our industry’s benefits to marketing and advertising clients and raise the overall Front-Door Marketing & Media industry’s profile.”
Read the rest of the responses here.
QSRMagazine.com released an article yesterday highlighting some customer satisfaction results from the ACSI’s (American Customer Satisfaction Index) latest annual report.
The general trend is that bigger chains saw a boost in their customer satisfaction numbers, mainly due to how customers perceive value in this type of economy. See David Von Amburg’s quote below.
“In a down economy, in an economy where consumers are more challenged in terms of their spending, the biggest chains … are probably best positioned to leverage generating revenue via value.”
“When the economy is good, those kind of smaller establishments tend to thrive, but when the economy is on a downturn, it’s much harder for those small players to leverage price, to leverage value. As a result, satisfaction will typically suffer, because in a down economy, what are customers looking for? Not so much quality as value.”
Find out if your chain made the list; click here to read the rest of the article.
STORES’ 2010 Top 100 Retailers list includes big names like Kroger, Target, and Walmart (no surprise there). Although the list doesn’t differ drastically from 2009’s Top 100, there are some unique additions and incumbents:
- Ikea places at #92 as a foreign-based company that has not taken over an existing US-based company
- Walmart takes #1 and the company plans to still generate $100 billion in annual sales
- 16% of Target’s (#3) annual sales were from groceries
- Walgreen opened its first store in Alaska, establishing the company’s presence in all 50 states
Read the rest of the article here.