Today’s 50+ consumer, which includes Baby Boomers and millions more from Generation X, do not act, live, or spend money like the social myths and consumer narratives suggest they would for people of their age.
LOS ANGELES (PRWEB)
May 25, 2021
Once upon a time, when they were young, the 50+ consumer of today was the most coveted consumer in the world. That, however, has drastically changed over the last twenty years. This is especially true in the aftermath of 2020’s global pandemic.
After a decade long research study into the myths of aging, and its correlation to how brands interact with consumers, three-time bestselling author and brand spokeswoman, Joanie Marx, is debunking the myths and rewriting the distorted stories about the 50+ consumer, whom she calls, The Invisible Customer With all the Money®.
In the recent April 2021 Wall Street Journal bestselling book, “The Experts Cure: How Entrepreneurs Are Changing the World”, in which Marx authored the first chapter, she writes that, “Today’s 50+ consumer, which includes over 70 million Baby Boomers and millions more from Generation X, do not act, live, or spend money like the social myths and consumer narratives suggest they would for people of their age.”
According to Pew Research, and many other consumer studies, the 50+ consumer’s purchasing power and influence over family purchases has increased to unparalleled levels in nearly every major consumer market in recent years.
In spite of overwhelming data that shows the 50+ consumer are big spenders in key economic sectors, Marx states that “relatable likeness, and relevant storylines of them have drastically decreased in advertising campaigns.” In fact, she goes on to say, “only a meager 5% of technology related campaigns focus on the 50+ market or visually showcase 50+ consumers.”
Why does this matter to consumer brands of today and those of tomorrow?
Referred to as “The Great Wealth Transfer”, between 2020 and 2061, Marx points out there is an estimated $68 trillion that will be passed down from boomers to their immediate heirs. Over the next forty years, Generation X, who represent 65.2 million in the United States, and the Millennials, who represent 72.1 million, will undoubtedly see their purchasing power grow exponentially. Yet, by the time this happens, both will be well past 50 years of age, or closely approaching it.
If the same dismissive, false storylines about aging are applied to these two generations as they grow older, as it has been with boomers, the brands of today and tomorrow will find themselves in serious financial trouble.
What is the solution, especially in the age of COVID?
In a world still reeling from the global pandemic, Marx says “There is a simple, three-step approach to establishing a long-term lucrative relationship with the 50+ consumer.”
1. Ensure your creative teams and journalists are not weaving in outdated myths and dismissive stereotypes into your brand messaging and articles.
2. The storylines for your brand campaigns and content should be crafted through engaging, emotionally relevant, and authentically relatable storylines.
3. Reach out to and partner with reliable and trusted sources who have insider information on what makes the heart of a 50+ consumer sing with joy.
ABOUT JOANIE MARX:
An entrepreneurial trailblazer and brand spokeswoman, Joanie Marx is a three-time bestselling author. Serving as an advisor, consultant and brand spokeswoman, she flips the script on outdated storylines, revealing not only how to authentically connect with The Invisible Customer with all the Money® but how to build a lucrative and long-term relationship with them.
Known as a Storytelling Magician™, Marx brings a new, fresh perspective on crafting genuine, engaging conversations with a multi-generational audience. She is a graduate of the University of California, Berkeley, with a degree in Psychology.
Schedule Interview: To arrange an engaging, candid and eye-opening interview with Joanie Marx call 818-317-4415 or email email@example.com.
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