Morning Light Strategy is an insights and strategy agency that helps clients maximize their growth potential among the fast-growing segment of people aged 50+
(Atlanta, GA / April 9, 2024)
Dana Keilman (CEO) and Nicole Munsey (President) of Morning Light Strategy lead a speaking session entitled "The NextGen Consumer: Why the Senior Consumer is the Shiny New Thing" the 2024 Insight Association Conference in Atlanta, Georgia on April 9, 2024.
Session Synopsis and Key Takeaways:
The future is old.
If your brand is only focusing on Millennials and Gen Z, then you’re missing out on the largest, fastest-growing, and most valuable consumer demographic: the 50+ consumer.
By 2030, 1 in 6 people in the world will be aged 60 years or over.
There are already over 40 million more Americans aged 50+ than there are Americans aged 18-34.
50+ consumers account for over 50% of annual US consumer spending
What are the barriers and opportunities?
In this session, Dana and Nicole make the case for why brands should be investing in the 50+ consumer demographic and ensuring their market research is inclusive of seniors.
They also shed light on the preconceived notions, biases, and perceived barriers that are preventing inclusivity of the aging consumer today, and how to overcome them.
Finally, they provide fresh insight into who the 50+ consumers really are, why they matter to brands and in research, and where the future opportunities are, highlighting case studies of brands that have successfully targeted the aging consumer.
“Successful innovation starts with needs. Brands that are succeeding in this space are thinking strategically about the 50+ consumer, not simply including them as a sub-group in their research projects."
Dana Keilman, Co-Founder and CEO
3 Key Takeaways
The 50+ consumer segment is larger than Millennials and Gen Z, growing faster and worth more. Brands that don't invest now in reaching this target risk losing sales to those who do recognize the value of the 50+ consumer.
Many brands are missing the market today in terms of targeting and being inclusive of the 50+ consumer. Biases and misperceptions are getting in the way of brands meeting the evolving needs of aging consumers.
There is significant upside and white space opportunity across categories among the 50+ consumer - and less competition for those who move quickly. Brands that do this right will be set up for faster growth opportunities than the brands that stay focused on the same consumers everyone else is targeting.
Missed the session but want to learn more?
We'd be happy to take you through the session presentation and/or coordinate a broader learning session for your team or organization.
Contact: Nicole Munsey (773) 386-0298, info@morninglightstrategy.com
About: Morning Light Strategy is an insights-based strategic consultancy that helps AgeTech, Senior Living, and other senior-focused organizations better develop and market products and services by more deeply understanding the needs, wants and opinions of 50+ adults and their caregivers. To learn more, visit: www.morninglightstrategy.com
