The Money Is With the Older Folks
By John Ingrisano on Oct 5, 2006 in Hot Biz Tips
I think it is amazing how advertisers still pander primarily to the young, the MTV generation. The real money is with the aging population. They have more net worth and discretionary income than any other market segment.
In your prospecting and sales focus, adjust it to those of us who are starting to crest the hill. They have the ability to pay and they aren’t afraid to spend their money when they see the value.
Work hard. Make money. Have fun. — JR Ingrisano
"In 2000, households headed by people
in the 55-64 age group had a median net
worth of $112,048 — which is 15 times as
much as the $7,240 in median net worth
reported for the under-35 age group."
– Marti Barletta
(Marketing to Women)
Popularity: 2% [?]
Mark D McGuire | Aug 16, 2007 | Reply
That is shocking, the figures you used to detail the median networth for those in your age range and in mine (under 35) but I am not so sure about the target group. (I myself am shocked because I have more net worth than an average 50 year old and I am only 32)
Yes older couples have money to burn but they are preserving it for retirement where medical and travel industry have taken up the most of that savings. These people will not invest through purchasing the latest state of art technology as the under 35 age group will. I suppose despite having a lesser net worth but them at a disadvantage, they do have one advantage, the mindset they have to burn money faster than an older person would.