With the American population becoming older and more seniors able to maintain active lifestyles, the perspective on buying power is seeing a shift away from younger generations. According to the most recent U.S Census, the 65-and-older age group now accounts for 15.2 percent of the total population. The massive Baby Boomer generation, known for wielding equally massive consumer power, now spans the ages of 54 to 72.
Not only is the senior demographic large and growing, but its economic impact is making history. The U.S. Consumer Expenditure Survey reports that, for the first time ever, consumers age 50 and over are making up the majority of spending — 51 percent — and they also control 70 percent of the country’s wealth.
For marketers across a broad range of industries, the purchasing power of the senior demographic represents an unprecedented opportunity to grow market share. As you consider updating your strategic plan to tap into this lucrative market, remember to include promotional items in the mix. In this guide, we’ll explore what promos are ideal options for marketing to seniors and share some insights on adding your brand to promotional items with 65+ consumers in mind.
Senior Stereotypes are Changing
We all know the stereotype of the grandmother knitting in her rocking chair or grandpa playing bingo in the retirement home. Here are just a few ways in which today’s seniors are changing.
Today’s seniors are active. Thanks to advances in healthcare and greater overall awareness of wellness issues, more people are able to remain active later in life than ever before. Seniors well into their 70s, 80s, and even 90s are traveling, exercising, volunteering, and actively participating in their communities.
More seniors are staying in their homes. While the assisted living market is stronger than ever, more seniors are choosing to remain in their home of choice for as long as possible. The “aging in place” trend has created a vibrant sub-market for home remodelers and contractors: the National Association of Home Builders has created the designation “Certified Aging-in-Place Specialist” for its members who specialize in home modifications for senior homeowners.
Not all seniors are dependent. Most recently retired individuals are able to live completely independently, and their preferences run counter to what marketers might expect of seniors. These consumers tend to be tech-savvy, they follow trends, and may choose either to begin a second career or to start their own business.
Promotional Products with Seniors in Mind
Many seniors are quite tech-savvy and active in the digital world, yet they still have an appreciation — and a preference — for tactile, “old school” practices such as writing notes with pen and paper, marking dates on calendars, and reading physical books.
Health and Wellness
As we get older, our need for medical services naturally tends to escalate, which means hospitals, physician practices, and skilled nursing facilities should consider promos with seniors in mind. Today’s seniors are also more wellness-savvy than previous generations, so gyms, yoga studios, spas, and massage therapists also would support the senior market.
As you explore opportunities for growing your health and wellness brand among seniors, here are a few promo options to consider:
- Gel bead hot/cold packs: These handy two-in-one packs can be microwaved or frozen to ease sore joints and muscles.
- Yoga mat in carrying case: On trend with senior customers’ desire to stay fit.
- Hand grip exercisers: Grip strength tends to decrease as we age, and a strong grip is important for maintaining independence — think about opening jars, picking up grocery bags, and turning door knobs, for example.
Travel
According to a recent AARP travel survey, the average Baby Boomer expects to take four or five leisure trips in 2018, spending nearly $6,400 on travel expenses.
About half of those surveyed said they expect to travel within the United States only, and most (62%) expect to stay in hotels or motels at their destinations. The report also states that cruises account for more than one-third of international travel, making a shipboard cabin the second most popular international accommodation.
Senior travel is big business, and that means big opportunities for travel agents, hotels, resorts, and cruise lines to grow their presence among senior consumers. Here are a few promo items to consider as you look to add senior marketing to your strategy:
- Bottle Opener Sunglasses: Settle in at the beach with one less item to forget when your sunglasses double as a bottle opener.
- Sunscreen: Skin becomes more sensitive to sunlight as we get older, so seniors will appreciate a promo gift that helps them prevent sunburn and damage from UV rays.
- Popsocket® phone holder: Firm grip on phones reduces dropping of devices.
- Wheeled Travel Bags: Perfect for high-end giveaways, promotional wheeled bags with a large 3″ x 2″ imprint area.
Banking, Insurance, and Financial Planning
Even though a senior may be retired, he or she still has a need for financial services such as estate planning, long-term care insurance, and asset management. In fact, many financial planners and firms have begun to specialize in serving the needs of senior clients.
Promotional items keep your brand top-of-mind with current and prospective senior clients while creating positive associations between your brand and their financial security. Here are a few options to consider:
- Passport Wallet: Perfect for travel and great with a custom notepad for everyday use as well.
- Document Cases: Many seniors have many years worth of physical documents, and you can help them keep it all organized with a handy case featuring your brand and logo.
- Aluminum Card Cases: Help senior clients keep credit cards organized in a sturdy case that also blocks RFID signals to thwart electronic pick-pocketing.
Personalizing Promotional Items for Seniors
As you consider your options for promos with seniors in mind, here are a few best practices for personalizing with your brand and company info:
- Choose promos with a large imprint area: Visibility is important, so select an option that offers plenty of space for a large logo and company name. Think about ways to use the space creatively; for example, if you opt for vertical text orientation on a water bottle, you’ll have much more space to work with.
- Remember color contrast: For the best visibility, opt for a dark-colored imprint on a light background or a light-colored imprint on a dark background.
- Plenty of space for writing: When deciding on a calendar or planner, choose an option with plenty of writing space.
- Choose simple fonts without flourishes like Arial and Times New Roman, theses will be more readable.
- And finally, maximize readability by setting the text to bold, all caps, and as large as possible to fill the space.
The senior market is one of the largest and fastest-growing demographics around. Seniors also have an appreciation for tangible gifts and items that make their lives easier, so they’re a natural match for promo marketing. Consider your specific senior market carefully (e.g. recently retired vs dependent), choose promos that match their needs and preferences, and make the best use of your imprint space, and you’ll set yourself up for success with these vibrant, active consumers.