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7 Top Reasons to Go Bold
1. Because that’s where the money is: People over the age of 50 account for 50% of all discretionary spending, own 77% of all financial assets, and 33% of the total U.S. net worth, with a household net worth of 19 trillion for those over 50. You cannot afford to ignore this growing demographic. In a recessionary and crisis economy you must know how to open this essential market.
2. Because there are millions of Bolds: Every 7 seconds someone turns 50. By 2015, 455 of our population will be 50 and older. Those over 65 will grow to over 86.7 million by 2050. The chart below shows the exponential growth of this market. And our fastest growing demographic are those over the age of 85.
3. Because you also secure the future of your business: Many of those over age 75 are best reached through “tangential marketing,” marketing to their caregivers or adult children. Half of all 60 years olds have at least one living parent. And the average age of caregivers is only 46. By going Bold, you also capture adult children and grandchildren. By contrast Bolds buy 25% of all toys, and are a growing influence on their grand children’s buying habits.
4. Because Bolds are looking to buy: Bolds spend more than one trillion dollars in goods and services annually, more than two and half times that of younger consumers: 14% of those ages 55-64, and 11% of those ages 65-74, and 5% of those over 75 years of age sign up for and buy educational classes and are enrolled students. How does your product or service relate to this thirst for life long learning? www.unca.edu Eighty percent of seniors travel annually. www.suddenlysenior.com Bolds account for 80% of luxury travel. Ninety million use anti aging products or undergo procedures to look younger. www.fda.gov Ninety-two percent of those age 45-54 own at least two cars, with those 55-64 having the second highest level of ownership. www.aarp.org
5. Because they understand business: One third of all business owners are over the age of 55, one tenth over the age of 65. www.census.gov.
6. Because your business can bring value in their new life stage: But it is not market share alone that makes our demographic so enticing. It is the transitional experiences of becoming grandparents, empty-nesters, reinventers of retirement lifestyle, financial security seekers, agers in place, downsizers, remarrieds, crisis planners, health care consumers, and adult child fiduciaries that makes this market so attractive to your business. Tap this powerhouse and you have captured a growth market even in this difficult business growth environment.
7. Because you can use multiple communication channels: Bolds spend billions online, spend as much time playing on line games as teens, seniors watch more TV and listen to talk radio in the millions. Bolds read magazines, seniors open their mail, and millions more will have mobile phones in the very near future. They can be reached!
We can help you Go Bold.
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