Older folks have disposable income

May 14, 2011 at 10:08 AM
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NEW YORK, May 14 (UPI) -- U.S. marketers and advertising executives say they're targeting advertising at an older age group after 40 years catering to younger shoppers.

That's because those 50 and older are less likely to be unemployed and more likely to be making enough money to make big-ticket purchases such as big-screen television sets and tablet computers, the New York Times reported Saturday.

"In some ways, they [the older demographic] are the ideal consumer. They have money, they consume loads of media, and they remain optimistic," said Stephanie Pappas, a senior planner for the New York advertising agency BBDO NY.

The current unemployment rate for those 20 to 24 years old is 14.2 percent. The rate for people aged 55 to 64 is just 6.2 percent. Economically, the disparity is similar.

The Bureau of Labor Statistics said people aged 45 to 54 and 55 to 64 had the highest weekly income of any age group on the United States, $844 and $860, respectively. Those ages 20 to 24 had a weekly income of $454.

"We've seen an increase in advertisers targeting this booming demographic, many of whom are not the types of advertisers you'd expect to see in our media properties," said Patricia Lippe Davis, vice president for marketing for AARP media.

Davis said the bimonthly AARP magazine is seeing products previously thought as youthful, including Skechers and Jeep, now being advertised in the magazine.

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