“They are open to trialling new brands, and they may initiate a long-term attachment at any age, and when they do switch to a new product, they are likely to remain attached,” says Figueiredo.
The untapped silver dollar
“It’s a lucrative marketing segment that exhibit the hallmarks of market attractiveness. Aged between 55 and 74 years, this cohort’s consumption footprint not only signifies market growth but also stability. Bolstered by an average accumulated net worth of $381,100 per person, Boomers own more than half of Australia’s national wealth with a meaty average spend. And they like to spend.”
Luxury brands have been faster than more affordable high-street labels at tapping into stored wealth by representing their older customers in marketing.
Controversial French brand Balenciaga appointed Nicole Kidman, 57, as a brand ambassador in January, alongside Oscar-winner Michelle Yeoh, 62, and French film star Isabelle Huppert, 71.
In February, aspirational Australian brand Camilla and Marc featured Penelope Seidler, making her modelling debut aged 85, in their advertising campaign.
“If you look at our customers, there are women who are grandmothers, as well as many mums and daughters,” Camilla Freeman-Topper, creative director of Camilla and Marc said.
Grant acknowledges the progress but feels that there is greater room for improvement, especially on social media, where she frequently shares her outfit choices.
“The bold and old fashion customer is out there, you just don’t see them as often in the marketing,” Grant says. “Things have improved, but it could be so much better.”
Figueiredo is encouraged by the recent Bonds underwear campaign featuring expansive representation of models from 8 seconds to 80 years of age.
Sportscraft, official outfitter of Team Australia’s opening ceremony uniforms at the Olympic Games in Paris, is also focused on greater age inclusivity
“Our 50-plus customers are redefining their mindset of what it means to be youthful, and we’re evolving our brand to resonate with their dynamic, forward-thinking perspective,” says Sandra Kennedy, Sportscraft general manager.
Balenciaga’s mature approach to ambassadors (from left): Michelle Yeoh at the Met Gala; Isabelle Huppert in a Balenciaga advertisement; Nicole Kidman at the Met Gala.Credit: Getty, supplied
“We understand the importance of ensuring that every customer, regardless of age, sees
themselves in our brand. This is why our advertising campaigns, brand imagery, and social media content are thoughtfully curated to feature a diverse mix of multi-generational talent and families.”
The direct approach
Along with increased social media representation, Figueiredo says that other technological improvements could tighten brands’ grips on the wallets of Baby Boomers. By creating simpler interfaces and more user-friendly digital platforms labels could broaden their reach.
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Brands can also speak more directly to older customers.
“Talk their talk,” Figueiredo says. “Don’t dilute this generation or cross-target with Millennials or with the more elderly consumers. Connect with these consumers. Get the message right.”
“Give them opportunities to purchase through more targeted campaigns based on audience insight.”
For Grant, a more direct approach is better suited to satisfying her addiction to dopamine dressing.
“It’s like trying to get attention in some stores. I shouldn’t have to do a tap dance to get and wear what I want.”
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