Older US adults account for 40% of top consumer spending categories

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 24, 2019, 2:09 PM UTC

A Video Advertising Bureau study finds US adults over 50 are receptive audiences for TV marketers.

The research found that 56 million consumers in the US aged 50 and above look for new and beneficial products, compared with 44.8 million millennials. But almost 80% of the older demographic feel “ignored” by advertisers.

Traditionally, the older audiences were thought to be “set in their ways” about their buying behaviours, making them harder to target. But eight in ten adults over 50 in the U.S. are consumers of “ad-supported TV-branded digital platforms” for sports, food, news, and comedy programming among other genres, making them a relevant target segment for TV marketers.

Overall the study finds that consumer data for the 114 million adults in the US over 50 remains strong. And this segment was found to be responsible for annual expenditures of over $3.2 trillion, which makes up for 41% of total U.S. consumer spending. 

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