Affluence and Buying Power of 55 Plus Market Draw for Advertisers

Affluence and Buying Power of 55 Plus Market Draw for Advertisers

A new report by Interep features facts on the nation’s 59 million consumers aged 55-years or older. Interep’s Michele Skettino says .."with more research data supporting the fact that older Americans are still active, receptive consumers, the percentage of total radio dollars will probably increase, following the age growth curve of the actual population. While many advertisers believe that they should be directing more dollars toward older demos, shifting dollars away from a primary 25-54 or 18-49 focus is a slow process."

Currently, 55-plus consumers comprise 29% of the adult population, and 21% of the total population. By 2010, this percent will jump to 25%, and by 2020 it will reach 30%. Several metros already have a significantly higher percentage of 55-plus consumers than the national norm. Many Florida communities top the list, such as Sarasota, West Palm Beach, Daytona and Tampa. Cape Cod, Johnstown, Wheeling, Scranton/Wilkes-Barre also have 55-plus populations over 30%. From a financial standpoint, it doesn’t get any better. Net worth, assets and investments generally all increase with age. Adults 54-64 have an estimated higher average net worth than any other age group ($210K), followed by adults 65+ ($188K).

Financial Profile: Age & Assets
Index of Adults 55+ with $50,000+ of given asset

  • Mutual Funds(Stock) 177
  • Money MarketFunds 175
  • Corporate Bonds 236
  • Common Stock 185
    Norm = 100
    Source: Mediamark Research,
    Spring 2002, Adults 55+ indexed against Adults 18+

    Adults 55-plus spend the vast majority of their media time with television and radio. On the average day, adults 55-plus watch 139 minutes of television (male/female average), and listen to 94 minutes of radio. By comparison, at the time of the study, they were estimated to spend 38 minutes with magazines and 44 minutes with newspaper.

    Radio also offers a variety of formats with exceptionally high concentrations of 55-plus audience listening. Adult Standards and Easy Listening formats top the list, followed by Classical, News/Talk and All Talk stations. Compared to other media, these top indexing radio formats exceed or match the 55-plus concentration of top indexing cable networks such CNN or A&E, and magazine genres such as gardening or travel books.

    On-line usage is another media showing exceptional growth in the 55-plus sector. According to 2002 Senior Market Facts, 36% of adults 55+ are now online, marking a 57% increase in the past 2 years.

    Find out more here.

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