New York, NY — Get ready: Nielsen is once again trying to challenge one of the industry's oldest chestnuts — that consumers over 50 aren't worth the expense to target. The measurement-and-data giant is out to prove that it is advertisers' continued focus on younger customers that's out of date, thanks to a massive and aging population of baby boomers as well as changes in consumers' lifestyle sparked by new technology.
Nielsen is in for a tough battle. Any number of parties have complained over the decades about marketers' obsession with youth. Consumers over AARP age often have more money saved and can spend more on items other than food and groceries, but marketers maintain that reaching younger consumers, particularly those between the ages of 18 and 49, is more important. The logic? That group usually hasn't committed to a favorite toothpaste or window cleaner, while older folks have — and won't have their minds changed by a TV-ad blitz.
Nielsen wants to change those perceptions and it's got numbers on its side. Its researchers believe consumers over the next decade will have fewer children, leading to smaller households and fewer young consumers to lure. A rough economy will lead to those smaller young families spending less, and smaller salaries for younger generations known today as "Generation Y" and "Millenials." Indeed, as the baby-boom generation retires and grows old, America is likely to have a larger older population and a much slower-growing young one, suggested Doug Anderson, Nielsen's senior VP-research and thought leadership.
To read the rest of the story, please go to: Advertising Age.
