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Sizing Up Consumers in the Aging Population

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By: Sean Moloughney

Editor, Nutraceuticals World

With half of the planet expected to be 50+ by 2030, it’s high time that marketers stop looking at the aging population as one homogenous consumer segment, according to Natural Marketing Institute (NMI).  
 
“It’s necessary to recognize that aging is a multidimensional experience, defined by a full range of lifestyle factors and emotions that transcend even the state of one’s physical health,” said Maryellen Molyneaux, NMI president. According to the firm, these health adjacencies can include community, nutrition, fitness, healthcare, finances, retirement and lifestyle among many others. “They are keys to truly understanding the vast and customized market opportunities within healthy aging,” she said. 
 
NMI recently set out to organize the aging consumer population into six groups and published its finding in an infographic titled “Healthy Aging Segmentation.” To segment the consumers, NMI looked at the variety of life factors that made each group of consumers unique, including one’s attitude to aging and financial stability, for instance.
 
“These findings show us how the desire for healthy aging can be driven by various dynamics, including fear, a lack of financial stability, or the desire for independence and a sense of dignity,” the firm said. “Uncovering which drivers are having the most impact on our target consumer, will help us create well-rounded, effective solutions and communications around products and services that assist consumers in maintaining their independence.”

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