Consumer culture and advertising have always celebrated youth, but today’s power consumers are 50+. They’re living longer, spending more —56 cents of every dollar in the U.S.—and are creating a “new longevity” market that controls almost 70% of the wealth.

Not only is this cohort expanding, it’s doing so quickly. [It already comprises 36 percent of the U.S. population, and some 10,000 people a day are turning 50.] By 2030, the first Millennials will be turning 50—and by then, one in five Americans will be 65 or older. “In six years, there will be more people over 50 than under 18,” says demographic futurist Bradley Schurman—and the same is playing out in developed nations from China and Japan to the U.K.

So why is it critical for every marketer, communicator and visual storyteller to start focusing harder on this new 50+ “longevity market?”

Schurman says two major factors are making these statistics especially relevant. First, older people are living longer than ever before—nearly 20 more years, on average. They behave differently and their consumer needs are different than those their parents had when at a similar age. Second, the population of younger people in many nations is shrinking—a reversal not previously recorded in human history.

“This is a seismic event that is already beginning to upend the social, political, workplace and economic norms in the United States and around the world.”

Bradley Schurman, author, The Super Age: Decoding our Demographic Destiny

And that’s not hyperbole. In Japan, people are living much longer; its birthrates are now among the lowest, and nearly every aspect of that country’s life is changing to adapt to its rapidly growing population of older people. Today, one in four Japanese are over the age of 65, and that is projected to increase to one in three in the next 15 years. China is facing a similar expansion. Its birthrates are projected to result in a decrease in population of nearly 28 million people by 2050—roughly equivalent to the population of the entire state of Texas, Schurman says. Rapid declines in birth rates also are happening in Thailand, Vietnam, Italy, Mexico, Germany, France, and beyond.

So where is the United States in all of this? After the highs of the U.S. Baby Boom in the mid-20th century and the lows of the Baby Bust in the 1970s, Schurman says, birth rates were relatively stable for nearly 50 years. But during the Great Recession, from 2007-2009, birth rates declined sharply in the United States, and they’ve continued to fall. In 2007, average birth rates were 2 children per woman. By 2021, birthrates dropped further, by more than 20%, and are now close to the lowest level in a century.

For marketers, it’s both challenging and creating new opportunities. The global “longevity market” is gaining increased recognition beyond healthcare, beauty and wellness retailers as older consumers have started demanding new, and more personalized attention from today’s food, entertainment and technology brands. Wunderman Thompson says that in recent years, 50+ females surveyed say they feel ignored by advertisers, and a majority of those surveyed last year say they will drop brands that don’t start focusing more intentionally on older women.

Some brands are listening—and getting creative. In Brazil, Beck’s is launching a limited-edition beer, Beck’s 70+, specifically for the 70+ set, and to make it exclusive, people under 70 are not allowed to buy it. It’s a bit sharper in taste than other Beck beer products, to compensate for a loss of taste sensitivity among older fans still into brew. The beer company’s marketing team says the idea of aging well isn’t just about getting older, with fewer wrinkles. It’s mostly about being able to continue to have access to products that enable continued enjoyment of “the most delicious experiences in life.” See its launch ad, here .

“People who are 50-plus want to see themselves represented differently in the imagery and messaging of all the different brands they’re considering to spend their money on. Traditional imagery implies that as you age, you become dependent, unhealthy and less relevant, and that is not what the 110 million people now entering this generation believe, nor want to hear.”

Wunderman Thompson

Michael Clinton, author of ROAR, and a special media advisor at Hearst Media, says Gen X and Boomers have very different ambitions today and it’s time for brands to readjust their reach and messaging. “Companies that commit to understanding the nuances of the 50+ consumer have the potential to reshape the way business is done, from marketing to retail and beyond,” Clinton says. Wunderman Thompson, meanwhile, says its surveys of older women reveal that a majority of women 50+ feel ignored by advertisers, and say they will drop brands that don’t start focusing on their cohort more specifically.

While some companies are stepping up efforts to engage this new longevity cohort as a niche market, Clinton says, “true representation goes beyond a single campaign or photoshoot; it involves consistent efforts to include diverse individuals in all aspects of brand communication, from advertisements and spokespeople to the makeup of company leadership and how to interact and communicate with communities. Throwing this audience a bone here and there doesn’t, and shouldn’t, cut it anymore.”

Visual images are one place to start, says the FrameWorks Institute in a special report, Reframing Through Images, released in October 2022. “People over 50 have long been misrepresented in media—or left out entirely,” the report says. “Images which reduce the prevalence of ageism and advance a more authentic picture of aging and older people will be key to engaging them in the marketplace.”

_{Marcia Stepanek}