Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Snapshot: The Rich Silver Economy

1,778 views

Published on

Welcome to the latest edition of our Snapshot series.
The Silver Economy has a big share of financial resources and is willing to spend it. Yet, older generations are often ignored. This report demonstrates their potential as a target group for companies from all industries and gives best practice examples of brands that get it right.

The report is structured in three parts:
The Non-Tech Myth - The Silver Surfers are well-connected and just as interested in new technologies and social networks as younger generations.
Lifestyle & Leisure - Older generations spend their money on experiences and actively participate in the sharing economy, making them an interesting target for online services and platforms.
Fashion & Role Models - In the Age of Agelessness, it’s not about aging gracefully anymore, but about ignoring the idea of age all together.

Published in: Marketing
  • How can I sharpen my memory? How can I improve forgetfulness? find out more... ▲▲▲ https://tinyurl.com/brainpill101
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

Snapshot: The Rich Silver Economy

  1. 1. UNDERSTAND TODAY. SHAPE TOMORROW. How Acting Your Age is becoming a meaningless phrase. LHBS // SNAPSHOT: THE RICH SILVER ECONOMY 1 SNAPSHOT: THE RICH SILVER ECONOMY
  2. 2. UNDERSTAND TODAY. SHAPE TOMORROW. Welcome to the latest Snapshot. In this edition, we will show how companies and brands start to counteract the skewed perception of the older generations. They are not seen as just parents or grandparents anymore but rather as cultural influencers that have a big share of financial resources and time at their disposal. 50-somethings and older generations are an active part of our societies and are a great potential target group for companies of all industries. This report is divided into three parts: - The Non-Tech Myth - The Silver Surfers are well-connected and just as interested in new technologies and social networks as younger generations. - Lifestyle & Leisure - Older generations spend their money on experiences and actively participate in the sharing economy, making them an interesting target for online services and platforms. - Fashion & Role Models - In the Age of Agelessness, it’s not about aging gracefully anymore, but about ignoring the idea of age all together. ABOUT THE SNAPSHOT. This is a collection of inspirational cases and signs related to the rich Silver Economy. This Snapshot has been created with the help of LHBS Inspiration- Hub. The LHBS Inspiration-Hub is a digital platform that brings customized insights and inspiration to the heart of your organization. It is a digital platform that tracks changes in people, markets and technology. LHBS Inspiration-Hub INTRODUCTION 2 INTRO DUCTION. LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  3. 3. UNDERSTAND TODAY. SHAPE TOMORROW.Source: 3 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY Agencies, brands and companies are starting to recognize the potential of older generations. Compared to financially challenged Millennials, Baby Boomers have more resources and willingness to spend, which makes them a valuable, yet often ignored, consumer segment to target. They are a rich demographic and not afraid to spend, while yet being underserved and offering opportunities for marketing and design. U.S. Disposable Income is under Control of 50-somethings 70%
  4. 4. CONTENT. UNDERSTAND TODAY. SHAPE TOMORROW. Socializing and Content in the Digital Age Lifestyle & 
 Leisure Fashion & Role Models It’s not about Simplifying Technology and Big Buttons The Non-Tech Myth 4 Age of Agelessness: Ignoring the Idea of Age LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  5. 5. THE NON-TECH MYTH It’s not about Simplifying Technology and Big Buttons UNDERSTAND TODAY. SHAPE TOMORROW. 5 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  6. 6. UNDERSTAND TODAY. SHAPE TOMORROW. IMPLICATIONS 6 THE NON- TECH MYTH Baby Boomers are technologically savvy and the Internet of Things makes it easy to connect older generations, keep them more active, informed, and more independent than ever. They neither need nor want simplified technologies with huge buttons. The Silver Surfers are well-connected and just as interested in new technologies and networks as younger generations. LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  7. 7. 45% 55% of Baby Boomers own a laptop 65% 60% 40% of Baby Boomers own a smartphone 54% 77% 23% of Baby Boomers own a Tablet 46% THE NON-TECH MYTH UNDERSTAND TODAY. SHAPE TOMORROW. 7Source: Internet Marketing Baby Boomers’ Device Usage LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  8. 8. UNDERSTAND TODAY. SHAPE TOMORROW. 40% 60% of Baby Boomers use social networking sites 8 71% Source: Marketing Profs LHBS // SNAPSHOT: THE RICH SILVER ECONOMY THE NON-TECH MYTH
  9. 9. UNDERSTAND TODAY. SHAPE TOMORROW. 9UNDERSTAND TODAY. SHAPE TOMORROW. Baby Boomers are well-connected: Percentage of Baby Boomers that use Selected Social Media Networks Source: Statista Facebook LinkedIn Pinterest Twitter Instagram Tumblr 5% 11% 13% 24% 26% 64% LHBS // SNAPSHOT: THE RICH SILVER ECONOMY THE NON-TECH MYTH
  10. 10. 45% 55% of Baby Boomers follow organizations 55% 60% 40% of Baby Boomers post and watch videos 40% 77% 23% of Baby Boomers join groups 23% UNDERSTAND TODAY. SHAPE TOMORROW. 10 Baby Boomers Are Active on Social Networks Source: Marketing Profs LHBS // SNAPSHOT: THE RICH SILVER ECONOMY THE NON-TECH MYTH
  11. 11. UNDERSTAND TODAY. SHAPE TOMORROW. 11UNDERSTAND TODAY. SHAPE TOMORROW. 63% 51% 40%44% 34% Baby Boomers Want to be Entertained when on Social Networks Be entertained Watch funny videos Relax & unwind Stay up to date with latest news See demos on a topic Entertainment Utility Source: Think With Google LHBS // SNAPSHOT: THE RICH SILVER ECONOMY THE NON-TECH MYTH
  12. 12. LIFESTYLE & LEISURE Socializing and Content in the Digital Age UNDERSTAND TODAY. SHAPE TOMORROW. 12 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  13. 13. UNDERSTAND TODAY. SHAPE TOMORROW. IMPLICATIONS 13 LIFESTYLE & 
 LEISURE: Baby Boomers are not the isolated technophobes that are often depicted in the media. They spend their money on fun and experiences, as they actively participate in the sharing economy, which makes them an interesting target for online services and platforms. Services are cropping up to make online social connection easier and more relevant to Silver Surfers. There are a lot of brands and platforms designed for the youth that can easily be extended to fit the needs of older generations as well. Silver Surfers want to socialize and enjoy life just as much as other generations. That’s why lifestyle content is increasingly relevant and first strides are being made to meet that need. LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  14. 14. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Tinder for Grown-Ups Stitch is a dating app that focuses on companionship Explore the Sign 19% of Baby Boomers admit to have tried online dating at some point. However, on platforms like Tinder, only 3% of users are in this age range. As social circles start to shrink, older people are looking for an easy way to connect to others. Stitch offers potential connections to more than 25,000 people. Instead of putting an emphasis on “hooking up”, Stitch focusses on companionship. It presents members with supposedly like- minded people and lets them decide if they are a match. It can be used for romantic match- making, but also offers local group activities, travel plans and a chat in the community forum. 14 LIFESTYLE & LEISURELHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  15. 15. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Roommate-Matching Service for Boomers An online platform aimed at matching Baby Boomers and empty-nesters with roommates Explore the Sign The idea behind Silvernest is that many boomers have to move due to reasons like divorce, health or finances. The platform helps homeowners to find suitable roommates that rent rooms in their homes and help with the financial burden. The mission for the platform was to create a seamless end-to-end experience, making all steps really easy and including services like automatic bank transfers for rental payments. 15 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY LIFESTYLE & LEISURE
  16. 16. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Parties for Grown-Ups “Haven’t stopped dancing yet!” is a south London club night Explore the Sign Nikki Spencer started “Haven’t Stopped Dancing Yet!” in her 40s. While twenty and thirty-somethings could pick any club of the city and under 18s had underage parties, there was no offer for middle-aged party-lovers. Spencer’s concept is simple: everyone is welcome, the music is a mix of 70s and 80s soul, funk and disco, and a choreographer leads a couple of routines in the beginning to get everyone into the mood. 16 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY LIFESTYLE & LEISURE
  17. 17. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Freebird Club Offers Social Travel for 50+ The Freebird Club connects member guests and hosts with like-minded travelers Explore the Sign The international social club can establish friendship and additional income for people over the age of 50. Freebird Club's goal is to banish loneliness among aging populations and to enrich its members' lives with meaningful travel. Travelers will stay at fellow club members' houses and the hosts will provide companionship and local knowledge. Membership will be around €15 a year. Based in Ireland, the company has plans to expand EU- and world-wide. 17 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY LIFESTYLE & LEISURE
  18. 18. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Articles for Contemporary 50- Somethings High50 was founded by Robert Campbell, an entrepreneur who was fed up with everything being aimed at young people Explore the Sign The online blog curates the best travel, health, work, relationships and finance articles, targeted at contemporary 50-somethings. In their travel section they also offer flight and hotel deals, working with selected partners to find exclusive and interesting destinations and places to see. 18 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY LIFESTYLE & LEISURE
  19. 19. UNDERSTAND TODAY. SHAPE TOMORROW. IMPLICATIONS 19 one Older generations like to connect to other people just as much as younger generations. Match-making apps designed especially for them and parties for like- minded grown-ups are very popular. two Sometimes Baby Boomers have special needs - e.g. an empty nest after all kids have moved out or going on holidays alone. Online offers fulfilling these needs are highly relevant. three Silver Surfers enjoy lifestyle content online. First strides are being made in offering them relevant blogs and news websites. LHBS // SNAPSHOT: THE RICH SILVER ECONOMY LIFESTYLE & LEISURE LEARNINGS:
  20. 20. FASHION & ROLE MODELS Age of Agelessness: Ignoring the Idea of Age UNDERSTAND TODAY. SHAPE TOMORROW. 20 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  21. 21. UNDERSTAND TODAY. SHAPE TOMORROW. IMPLICATIONS 21 FASHION & ROLE MODELS: LHBS // SNAPSHOT: THE RICH SILVER ECONOMY With populations growing older and the Age of Agelessness, demographics will consequently be reframed and redefined. It’s not about aging gracefully anymore, but about ignoring the idea of age all together. Baby Boomers demonstrate increasingly youthful attitudes and behaviors. Over 50’s are engaging in life as actively as their younger counterparts, showing that actual age and the perception of age are two different things.
  22. 22. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Guardian’s Fashion For All Ages Series Older women are part of British daily newspaper’s editorial fashion content Explore the Sign The Guardian’s Fashion section is simply focussing on fashion for all ages, mixing younger and mature models thus taking the first step to widening the view of beauty. Older models are not banned into an “elderly fashion” section but are fully integrated into the editorial. 22 FASHION & ROLE MODELSLHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  23. 23. UNDERSTAND TODAY. SHAPE TOMORROW.Source: A Fashion Blog for Grownups Alyson Walsh wants to celebrate women (and men) of all ages online Explore the Sign Alison Walsh is a freelance journalist, former magazine fashion editor and author of “Style Forever: the Grown-Up Guide to Looking Fabulous”. Her blog “That’t not my Age” is all about women aged 50 plus and contains style advice and tips. Alison refers to her target audience as FABsters or Generation Fab. She wants to celebrate women (and men) of all ages and believes that you don’t need to have youth to have style. 23 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY FASHION & ROLE MODELS
  24. 24. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Models over 60 Fashion and beauty brands slowly start tapping into silver economy and increasingly feature models that are over 60 Explore the Sign The most recent to join the trend is fashion brand Céline, with a 80-year-old author Joan Didion as the face of its newest campaign. The label joined Saint Laurent featuring a 71- year-old Joni Mitchell and Kate Spade, Alexis Bittar with the 93-year-old style legend Iris Apfel. Shortly after, L’Oréal announced signing the 65-year-old Twiggy as its brand ambassador, joining 69-year-old Helen Mirren. 24 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY FASHION & ROLE MODELS
  25. 25. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Gucci’s Cruise 17 Campaign The latest Gucci campaign stars 79-year-old British stage actress Vanessa Redgrave Explore the Sign The campaign is all about British romance and set across the grounds and interior of English property Chatsworth House. Cruise 17 integrates stage icon Vanessa Redgrave and her younger model colleagues naturally, showing no difference in style between the age groups. This way, Gucci achieves to target the affluent older segments without positioning itself as “senior fashion”. 25 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY FASHION & ROLE MODELS
  26. 26. UNDERSTAND TODAY. SHAPE TOMORROW.Source: Instagram’s Baddie Baddie Winkle, the 87 year-old Instagram Rebel Explore the Sign Helen van Winkle is 87 years old and enjoys wearing floral dresses on some days, and hyperrealistic Justin Bieber sweaters with green rose-patterned leggings on others. This “bad” side earned her Instagram fame under the synonym Baddie Winkle. She reached more than a million followers by shunning the idea of age-appropriate dress codes. Baddie Winkle has turned into a celebrity who simply doesn’t like “old women clothes”. 26 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY FASHION & ROLE MODELS
  27. 27. UNDERSTAND TODAY. SHAPE TOMORROW. IMPLICATIONS 27 one Companies can appeal to the desire of Baby Boomers to stay young by including older generations in their communication efforts without emphasizing age. two Blogs, websites and social media accounts especially created for Baby Boomers and older generations appeal to their desire to be included and are not designed for the “elderly” but focus on agelessness and lifestyle. three In the era of ‘staying younger longer’, Boomers don’t want to be pigeonholed because of their age. LHBS // SNAPSHOT: THE RICH SILVER ECONOMY FASHION & ROLE MODELS LEARNINGS:
  28. 28. SUMMARY & LEARNINGS UNDERSTAND TODAY. SHAPE TOMORROW. 28 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  29. 29. UNDERSTAND TODAY. SHAPE TOMORROW. IMPLICATIONS 29 SUMMARY: one Commercial success in the silver market comes by selling products to older consumers without directly presenting them as products for seniors. two In the era of “staying younger longer”, Boomers don’t want to be labeled because of their age. three Baby Boomers and older generations like content that focusses on agelessness and lifestyle instead of content designed for the “elderly”. LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  30. 30. UNDERSTAND TODAY. SHAPE TOMORROW. Discover ABOUT LHBS. Define Develop Deliver LHBS is a marketing & innovation firm with offices in Berlin & Copenhagen. We work with legacy organisations to adapt their customer value proposition to meet emerging customer expectations. Together with our clients we discover business opportunities and deliver integrated customer offers for products, services, experiences and communication. http://www.lhbs.com ABOUT UNDERSTAND TODAY. SHAPE TOMORROW. 30 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  31. 31. UNDERSTAND TODAY. SHAPE TOMORROW. INSPIRATION -HUB INSPIRATION-HUB 31 This Snapshots is powered by the LHBS Inspiration-Hub. The LHBS Inspiration-Hub is a digital platform that brings customized insights and inspiration to the heart of your organization. It is a digital platform that tracks changes in people, markets and technology. https://inspiration-hub.com/ LHBS // SNAPSHOT: THE RICH SILVER ECONOMY
  32. 32. Die in dieser Präsentation dokumentierten Gedanken und Vorschläge sind geistiges Eigentum der 
 LHBS Consulting Berlin GmbH und unterliegen den geltenden Urhebergesetzen. Die unauthorisierte Nutzung, 
 die ganze oder teilweise Vervielfältigung sowie jede Weitergabe an Dritte ist nicht gestattet. LHBS Consulting Berlin GmbH Köpenicker Straße 154  10997 Berlin Germany   IMPRINT UNDERSTAND TODAY. SHAPE TOMORROW. www.lhbs.com THANK YOU 32 LHBS // SNAPSHOT: THE RICH SILVER ECONOMY

×