What connects people like Sandra Bullock, Elle McPherson, Daniel Day Lewis with each CEO of the Top 20 companies in Australia? They are all over 50. In addition, and this is not incidental, they are all wealthy. It cannot be underestimated, the over 50 market is a major force in wealth, spending and population growth over the next decade. Recent HILDA research identified that 78% of wealth in Australia is controlled by the over 50s.
Over 50 doesn’t mean over the hill
Wealth, health and lifestyle means that the old perception of ‘old’ is no longer true. These ‘Zoomers’ and ‘Unstoppables’ are positive, stylish and confident, liberated by their freedom and increased spending power.
Michael Farley, CEO of Retirement Living Today, a media channel aimed at this demographic highlights the common misperception, “Over 50 doesn’t mean choosing a retirement home. Retirement is a time of empowerment. People are more lifestyle orientated with interests including cars, boats, real estate, travel, fashion and just about every consumer product or service available. They focus on experience with restaurants, the arts, festivals and sports. Life truly begins at 50.”
However, the market does not serve this group well. For example, Baby Boomers are under estimated by brands with 94% saying they dislike the way advertisers communicate with them. The secret? Over 50s dislike being marketed to as over 50s.
“It is multi-faceted audience driven by a variety of needs, motivations and desires. They can now master their lives because they have time and money to do so,” continued Mr Farley. “For marketers, brands and advertisers connecting with Australia’s largest sector of consumers remains elusive”.
Retirement Living Today – With a focus on ‘Living’
Media channels are designed to attract audiences, and the over 50s audience is severely underserviced. If the content does not suit them then advertisers can’t reach them. Mr Farley explains how his company meets the market “Retirement Living Today is building a suite of specialised websites and directories for all over 50 niches from Baby Boomers through to Aged Care. Streaming, quality interactive content and comprehensive directories help people get the most out of their life.”
Retirement Living Today is an entertainment platform to engage audiences then feeds them with a combination of branded content, relevant information, and a dedicated marketplace. “This niche focus generates data that offers unique insights and leads brands to refine their approach to this market. Current offerings targeting this market are unsophisticated and narrow. Retirement Living Today is an authentic voice in the market.”
Designed for Ubiquitous Consumption
Media brands that understand the market are multi-channel, multi device plays. Retirement Living Today content can be accessed on web, mobile and internet TV. This follows the megatrend for omni-platform media consumption, encouraging high-growth and future-proofing the business.
“Technology allows refined messages to go to targeted, age-specific or interest-specific groups wherever they want, whenever they want. This on-demand consumption is delivered through a platform that advertisers and marketers gravitate to because it has been built to deeply resonate with this important and lucrative audience.” Retirement Living Today promises to change the shape of media to the over 50s market unlocking value in this key demographic.
Retirement Living Today has not only shown promise to its target demographic but also to investors. Chairman of Retirement Living Today, Sandra Hook explains, “Our company is generating a library of valuable content targeted to the largest demographic with the greatest projected growth in the country and with the most wealth to spend.
Retirement Living Today has been developed with multiple revenue streams including unique video directors, high-value display advertising, an extensive marketplace, unique subscription video directories, lead acquisition and commissions among others that will ensure its commercial potential is maximised. This is extremely attractive for corporates and investors alike and we have experienced a lot of interest since listing on Wholesale Investor”.
The growing over 50s market is a global phenomenon and these Unstoppables, now have a place to stop and find out how to get the most from their lives.