Wealthy seniors: a business opportunity - Docu - 2014
52Young entrepreneurs in the Netherlands do not see aging as a problem, but as a business opportunity to sell to wealthy seniors goods and services.
Where aging in the Netherlands is seen by most people as a major problem, driven young pioneering entrepreneurs see opportunities in the ever-growing target group of seniors. The contemporary 'elderly' do not want to be put away as worn out and discarded. They are vital, lively and above all ... wealthy. But they do not just spend their money, they are the chicken on top of the golden eggs.
In the coming years, millions of baby boomers (born 1946-1955) worldwide reach an age that used to mean 'retirement' and 'behind the geraniums'. Often they are done paying their house, their children are adults and they have nice savings / investor on hand. And they are still fully in the good life. These demonstrable facts make the senior citizens' market surprisingly the ultimate innovation spot.
In the senior economy, the purchasing power and capital are still largely available - in stark contrast with other sectors of the national economy. But while 80% of Dutch capital is among the people over 50, currently only 10% of marketing and advertising is aimed at that target group. It is high time to do something about this mismatch. How?
This is demonstrated by the young VPRO Backlight director Camiel Zwart by following four young entrepreneurs aged under or around 30, who specifically focus on the 'new elderly' target: Arjan in 't Veld from BureauFifty translates the latest insights of that target group into concepts, campaigns and communication strategies. The young architects from Mannen in de Ruimte and career advisor Anne-Marije Buckens from 50 Company serve the gray tigers on their wishes regarding living and working.
And the multinationals are also slowly waking up: Marie-Cecile Schouwenaar won a challenge for Heineken's new 60+ beer and at Ford's automotive manufacturer in Aachen, young technicians in 'third age suits' are designing new cars that will be equipped with heart rhythm meters already in the driver's seat . Because new cars are also bought for 75% by the 'forever young' 50+ people.
Enough with the polarization between generations; it's time to move on to the win-win between the modern twenties / thirties and the free-spirited sixties / seventies!
Originally broadcasted by VPRO in 2014.
© VPRO Backlight February 2014
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Credits:
Director: Camiel Zwart
Research: William de Bruijn
Production: Helen Goossens
Editors: Henneke Hagen, Frank Wiering
English, French and Spanish subtitles: Ericsson.
French and Spanish subtitles are co-funded by European Union.