SELLING TO SENIOR CITIZENS IN A YOUTH DOMINATED MARKET
We all know that India is a young country with over 65% of its population under 35 years of age. This is a peak time for the markets and industries in India with its huge population out there learning, working, earning and spending. For India it’s large and growing population has been an asset.
Driven by the huge youth market, naturally the brands and marketers have cluttered the marketing mediums, e commerce platforms, Malls and retail outlets with youth focussed products, designed for youth =styles & fits and youth targeted campaigns. Today, a gentleman of 50 plus or 60 plus is not the target customer even in a premium clothing line brand store. He may hardly find a shirt that suits him in the midst of vast product range designed for the youth. In the youth dominated Indian market of today, senior citizens are literally left ignored and side lined. Now that’s an opportunity for the Advertising, Integrated Marketing and Marketing Services agencies. It is not a small market either.
As always, there are two options before a marketer. To be one among those 100s who are fighting for that 65% youth market or walk the niche path and target the less focussed rest of the market. Why not a clothing line for 50 Plus or 60 Plus or may be a separate stores line for senior citizens! Isn’t that a niche market?
In the recent past, for a large Hospitals Group based across India, we at HostIndia Events helped ideate and implement a successful Senior Citizen Focussed event and loyalty program. A Senior First Card with special privileges for Senior Citizens was launched and issued to 1000s of Senior Citizens from the neighbourhood. A month long campaign and efforts to find, reach and invite the senior citizens to the Launch event and ultimate success of the event was one of the most satisfying moment for the HostIndia Events Team. It was a Loyalty Program, Relationship Marketing, Cause Marketing and a Marketing Event all in one.
Even if the privilege to Senior Citizens means that they do not have to stand in the same queue as others, it’s a cause very well done. 20 to 30 years later India’s market dynamics would change 360 degree and we would then be the market of Oldies the Goldies and its better we think ahead of time!