InStore Marketing Presentation 11/13/08

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  • InStore Marketing Presentation 11/13/08

    1. 1. The Impact of Aging Consumers on Manufacturers and Retailers
    2. 2. WHO IS VARSITY?
    3. 3. WHAT WE DO <ul><li>Experience began with more than 75 retirement communities </li></ul><ul><li>Backed up by a 50-member marketing team at Pavone </li></ul><ul><li>National experts </li></ul><ul><ul><li>Branding </li></ul></ul><ul><ul><li>ArchImaging </li></ul></ul><ul><ul><li>Research </li></ul></ul><ul><ul><li>Design </li></ul></ul><ul><ul><li>Packaging </li></ul></ul><ul><ul><li>Advertising </li></ul></ul><ul><ul><li>Public relations </li></ul></ul><ul><ul><li>Interactive </li></ul></ul><ul><ul><li>Sales promotions </li></ul></ul><ul><ul><li>CRM </li></ul></ul><ul><ul><li>Media </li></ul></ul>
    4. 4. WHY WE DO IT <ul><li>Most marketers are not in this demo </li></ul><ul><li>To better understand a new marketing demo without assumptions </li></ul><ul><li>Ethnographic research to create a truly unique point of view </li></ul><ul><li>To assemble a predictive model of future Boomer behavior </li></ul>
    5. 5. DEMOGRAPHICS <ul><li>55+ market is larger than Hispanic and African-American markets combined </li></ul><ul><li>Holds over 75% of the nation’s wealth </li></ul><ul><li>Has nearly 2 trillion dollars in disposable income </li></ul><ul><li>Controls 70% of all disposable income </li></ul><ul><li>Life expectancy of 55+ continues to rise </li></ul>
    6. 6. DEMOGRAPHICS <ul><li>Older adults will continue to be a MUST target </li></ul><ul><li>Distinct cohorts </li></ul><ul><ul><li>65+ are patient, thrifty, </li></ul></ul><ul><ul><li>honorable, respect authority </li></ul></ul><ul><ul><li>55-65 (leading-edge Boomers) are impatient, wealthy, decisive, seek entertainment </li></ul></ul>
    7. 8. GOALS OF STUDY <ul><li>Add depth to base of existing Boomer/older adult intelligence </li></ul><ul><li>Study of emotional and physiological needs to inform new products, marketing design, and best use of media </li></ul><ul><li>Study mature market for base of comparison against aging Boomers in future studies </li></ul>
    8. 9. INITIAL STUDY <ul><li>Ethnographic research </li></ul><ul><ul><li>2 researchers lived 24/7 at CCRC for 31 days </li></ul></ul><ul><ul><li>Conducted focus groups, shop-alongs, personal interviews </li></ul></ul><ul><ul><li>Residents’ and researchers’ journals, blogs and video </li></ul></ul>
    9. 10. SOME RESULTING SUGGESTIONS
    10. 11. SOME SUGGESTIONS <ul><li>Product/packaging design </li></ul><ul><li>Retail design </li></ul><ul><li>Boomer mindset </li></ul>
    11. 12. OVERALL APPROACH <ul><li>The biggest opportunities </li></ul><ul><ul><li>Help them take things for granted again </li></ul></ul><ul><ul><li>Treat them as smart consumers </li></ul></ul><ul><ul><li>Be clear about what you are selling </li></ul></ul><ul><ul><li>Keep their physiology in mind </li></ul></ul><ul><ul><ul><li>Sight </li></ul></ul></ul><ul><ul><ul><li>Strength </li></ul></ul></ul><ul><ul><ul><li>Stamina </li></ul></ul></ul>
    12. 13. RETAIL DESIGN
    13. 14. RETAIL DESIGN <ul><li>Access is important </li></ul><ul><ul><li>Automatic door, but not “handicap” automatic door (Boomers won’t use it) </li></ul></ul><ul><ul><li>Wide aisles – space for scooters </li></ul></ul><ul><li>Non-skid flooring </li></ul><ul><li>Large signage </li></ul><ul><li>Greater need for non-glare lighting to make it easier for them to read </li></ul><ul><li>Large/clear labeling with high contrast </li></ul><ul><li>Furniture that accounts for physiology of older adults </li></ul>
    14. 15. Actions when planning to go shopping
    15. 16. Used when shopping
    16. 17. Found difficult while shopping
    17. 18. 55+ BOOMER SPENDING
    18. 19. 55+ BOOMER SPENDING
    19. 20. 55+ BOOMER SPENDING
    20. 21. 55+ BOOMER SPENDING
    21. 22. 55+ BOOMER SPENDING
    22. 23. 55+ BOOMER SPENDING
    23. 24. 55+ BOOMER SPENDING
    24. 25. 55+ BOOMER SPENDING
    25. 26. 55+ BOOMER SPENDING
    26. 27. 55+ BOOMER SPENDING
    27. 28. 55+ BOOMER SPENDING
    28. 29. 55+ BOOMER SPENDING
    29. 30. 55+ BOOMER SPENDING
    30. 31. 55+ BOOMER SPENDING
    31. 32. 55+ BOOMER SPENDING
    32. 33. PACKAGING DESIGN
    33. 34. Difficulties with products
    34. 35. 55+ BOOMER SPENDING
    35. 36. 55+ BOOMER SPENDING
    36. 37. 55+ BOOMER SPENDING
    37. 38. 55+ BOOMER SPENDING
    38. 39. 55+ BOOMER SPENDING
    39. 40. 55+ BOOMER SPENDING
    40. 41. 55+ BOOMER SPENDING
    41. 42. 55+ BOOMER SPENDING
    42. 43. 55+ BOOMER MINDSET
    43. 44. 55+ BOOMER MINDSET <ul><li>Don’t want to be “seniors” </li></ul><ul><ul><li>See themselves as 15 years younger </li></ul></ul><ul><li>Active aging – engaged in life </li></ul><ul><ul><li>Feel and act younger than parents </li></ul></ul><ul><ul><li>General sense of optimism </li></ul></ul><ul><ul><li>Transition from accumulating possessions to collecting experiences </li></ul></ul><ul><ul><li>Self-fulfillment and lifelong learning </li></ul></ul>
    44. 45. 55+ BOOMER LIFESTYLE <ul><li>Boomers </li></ul><ul><ul><li>Their lifestyle is who they are </li></ul></ul><ul><ul><li>What they do says more than their age </li></ul></ul><ul><ul><li>Want to maintain lifestyle into old age </li></ul></ul><ul><ul><li>Retirement is a time of self-expression and reinvention </li></ul></ul><ul><li>They want to collect different experiences </li></ul>
    45. 46. 55+ BOOMER LIFESTYLE <ul><li>Experiences </li></ul><ul><ul><li>Restless and searching for novelty </li></ul></ul><ul><ul><li>Adult learning classes have grown </li></ul></ul><ul><ul><ul><li>Forensics to world religions </li></ul></ul></ul><ul><ul><li>Gourmet cooking classes </li></ul></ul>
    46. 47. 55+ BOOMER SPENDING
    47. 48. 55+ BOOMER SPENDING
    48. 49. 55+ BOOMER SPENDING
    49. 50. 55+ BOOMER SPENDING
    50. 51. 55+ BOOMER SPENDING
    51. 52. 55+ BOOMER SPENDING
    52. 53. 55+ BOOMER SPENDING It fits who you are. At any given moment. Like you, Vibe has nothing to hide. With an expanding selection of interchangeable, snap-on covers, you can show the world your true colors – and change them just as fast as your mood. Whether you want to unmask your inner Flirt, rev up your Dynamo, or you’re simply feeling Lucky? Or Safe? Anything but Granola!, Vibe lets you express yourself any way you choose. So show your confidence. Spice up an outfit. Shake up the status quo. But never blend in.
    53. 54. 55+ BOOMER SPENDING
    54. 55. 55+ BOOMER SPENDING
    55. 56. 55+ BOOMER SPENDING
    56. 57. 55+ BOOMER SPENDING
    57. 58. 55+ BOOMER SPENDING
    58. 59. 55+ BOOMER SPENDING
    59. 60. SUMMARY
    60. 61. SUMMARY <ul><li>55+ will never be the same </li></ul><ul><li>Multiple targets even within 55-65 and 65+ </li></ul><ul><li>Boomers don’t want to be “old” like their parents </li></ul><ul><li>Design for 55+ will change the marketplace </li></ul><ul><li>Opportunities abound for companies that help older adults to take things for granted </li></ul>
    61. 62. QUESTIONS

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