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The over 50s – a misunderstood market |
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Attitudes towards older shoppers need to change. The over 50s can no longer be viewed as traditional in their outlook to food and cooking. They are in fact one the most adventurous and experimental groups of shoppers.
They also punch above their weight representing more than half of food and grocery spend. By 2051 there will be as many as 32 million over 50’s – a growth rate of 53%.
Ignore them at your peril!
The over 50s are not one homogenous market. Many are relatively well off and active and are a particularly significant group for the consumer goods industry during a recession. Others are more vulnerable and require a different approach by suppliers and retailers.
Understanding this growing shopper segment is essential to the success of any brand. Knowing who these shoppers are, how they think and identifying what their product and in-store priorities are is vital. How does this very powerful group of shoppers feel about the UK food and grocery industry and what are their expectations? How do you need to change your offer to meet their differing needs?
The Golden Generation is IGD’s time-saving one-stop guide to the older shopper enabling you and your team to identify the real appeal of this key market and the extent to which you are under trading with them.
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