Older consumers overlooked by ads

NEW YORK, July 29 (UPI) -- The wealthiest demographic group in the United States is frequently bypassed by advertisers, industry experts said.

There are 100 million U.S. consumers above age 50 and the group owns $8 trillion in assets, which amounts to 70 percent of the U.S. population's disposable money, the Kansas City Star reported Tuesday.

The group buys 25 percent of the Vespa scooters sold in the United States and those over 45 purchased 19 percent of the iPods, the newspaper reported. They also buy more than half of the U.S. cars sold, the Star reported.

But advertisers overlook them. None of iPods advertising was targeted above persons older than 35 and only 10 percent of car advertising budgets target older buyers, the newspaper said.

One common mistake is for marketers to assume older consumers are stuck in their ways, experts said. But, Focalyst, a marketing and research firm, found that 61 percent of those between ages 44 and 62 agree with the statement "it doesn't pay to be loyal to one brand."

The figure barely rises among 19 to 41-year-olds, where 62 percent agreed with the statement, the Star reported.