International Comparisons
In Search of the Forgotten Consumers: How European Companies Treat the 50+ Market
Research Report
June 2004
AARP Headquarters
601 E Street, NW
Washington, D.C.
A Conversation with Jean-Paul Tréguer,
CEO of Senioragency
On Friday, June 18, 2004, Jean-Paul Tréguer, Founder and President of Senioragency spoke at the AARP Global Aging Program Idea Exchange Series. His talk, “In Search of the Forgotten Consumers: How European Companies Treat the 50+ Market,” analyzed Europe’s approach to advertising in the 21st century and pointed out how advertisers are ignoring and even insulting a key demographic of the market.
Mr. Tréguer explained that he found Senioragency to fill the gap of this niche market of 150 million people. Senioragency is now 15 years old and is represented in France, UK, Germany, Japan, Belgium, Norway, Sweden, Austria, Israel, and Australia. The company is currently negotiating to expand into Spain, the Netherlands, Italy, and the United States.
According to Tréguer, in 2003, 35% of Europe’s population was over 50 years old. However, 50% of Europe’s wealth was held in the hands of this demographic group. Other key market share information about this demographic includes:
- 45% of all new cars & 80% of high end cars
- 75% of total financial assets
- 50% of face care cosmetics
- 55% of coffees
- 50% of mineral waters
- 50% of food oils (60% of olive oils)
- 40% of yogurts & dairy products
- 35% of total travels, 80% of cruises
To further his point, Mr. Tréguer explained that the average age for new buyers of Bang & Olufsen is 54, of Porsche is 57, and of Harley Davidson is 57.
Even though a large percentage of financial wealth and market share lies within the 50+ market, 95% of all marketing dollars focused on the under 50 market.
European advertisers are ageist, according to Mr. Tréguer. He highlighted many examples of print and video advertisements that illustrate the “pest” in Europe. The “pest” represents the four principles that European advertisers adhere to.
- Work hard to ensure your message is not readable to older persons;
- Create a message with no substance;
- Make sure you humiliate older persons; and
- Always remind older persons that death is not far away.
Tréguer explained that the boomers are only now being noticed in Europe as a market. He noted that the boomers are known as the “me” generation and are focused on pleasure, immediacy, and consumerism.
There is hope on the horizon, according to Tréguer. Pioneers in marketing to older Europeans are coming out and companies are starting to take notice. Companies are beginning to embrace older consumers and create universal design because, according to Tréguer, “When you design for the old, you design for everyone.”