51% of consumer spending done by people over 50.
10% of marketing activity is directed towards people over 50.
– U.S. Bureau of Labor, September 2015
When organisations do not employ +50 year olds (who may I remind you, make 51% of the consumer decisions), what kind of decisions are made? If the population of a company consists of Millennials do you not think that they will have only that narrow perspective? If you also employ Boomers, will you not include the potential buyers of a product or service and have a more appropriate marketing campaign?
Bob Hoffman has written an insightful, if polemical, view of what this fact means for consumers. Time, Inc calls him “fabulously irreverent.” and in his “Ad Contrarian” blog he really has an entertaining go at the marketing community. You can read his blog here: Demographic cleansing of ad industry
What do you think of these new findings? Please comment!