Growth that lingers, over a lifespan
Broad targeting is a precondition for growth.
There is compelling evidence that reaching buyers across multiple generations sets a solid foundation for growth.
Brands with a “middle-age” profile generally have the highest reach – three times as much as the 100 oldest brands, and twice as much as the 100 youngest brands.
Even the 100 youngest brands depend on 50+ shoppers for more than one-third of their value.
Brands with the youngest profiles grow the most in units.
Yet, relative unit growth of the brands with the youngest profiles is driven primarily by the two oldest age groups.
Brands with a broad age diversity in their buyer base show greater absolute growth, benefiting from a larger pool of buyers.
Relative growth of the brands with the youngest profiles is driven primarily by the two oldest age groups.
Growth % in units for brands 2019 -> MAT Aug 24
Youngest 100 Brands
Under 30
30-39
40-49
50-64
65+
TOTAL
Source: Belgium, MAT August 2024 vs. 2019
Only targeting Gen Z would mean missing out on generations that contribute significantly to a brand’s growth. If not through broader product development and framing, then at least by being where the silver shopper is.
Change is constant
In general, older generations are not naturally on a discovery hunt for new products, resulting in a lower awareness of innovation in FMCG categories. More than one-third cannot name any category where they recall finding good innovations – twice as high as with Gen Z. When Boomers do discover innovation, it is often related to fresh categories such as fruit and vegetables, bread and bakery, dairy, as well as home and personal care. Innovation in categories that are high in gratification, such as confectionery or salty snacks is rarely recognized.
Some trends simply do not catch on. For example, 82% of Boomers have not heard of ashwagandha, compared to less than half of Gen Z shoppers. Conversely, when it comes to spirulina, the numbers are close to the shoppers’ average.
Boomers are just as much on the lookout for products that offer clear benefits to support their lifestyle needs as other generations. Innovations they embrace often build on existing habits. A good example is the move to non-alcoholic beer – available under the same brand, different label, clear benefit – which is a small step. By contrast, changing from meat to a meat replacer is a big step for them – different category, different brands, sometimes even a different retailer. In Germany, for example, older health-actives – those who take many measures to maintain an all-round healthy lifestyle – account for 74% of the revenue from non-alcoholic beverages, versus only 48% for the gluten-free trend (Germany, MAT Q2 ’24).
The question is: which trends are the most influential when purchasing FMCG?
For Boomers, the top five topics are:
1. Healthy ingredients
2. Natural ingredients
3. High product quality & safety
4. Local / regional
5. Country of origin
Boomers are trying to reduce or avoid sugar, salt and fat; they rank milk as the number one product for a healthy diet and are less critical than Gen Z about moderate alcohol consumption. However, Boomers are fairly critical of packaged food, with one-third convinced it cannot be healthy. Trust is the barrier to overcome.
Security is undoubtedly important for Boomers. When looking at packaging – the ultimate moment of truth – they watch out for quality seals. They are also very adamant about clear expiration dates and information on the country of origin, volume and content, usage instructions, and warning notices.
When making a different choice, it is not about price – it needs to instantly feel like the right choice.
The silver game-changer
One thing is clear: you need older shoppers to achieve substantial growth. Today’s older shoppers are by no means a homogenous and silent group. Part of the younger 55+ group – “the new 40s” – is still very active, professionally, physically, and socially. Others are taking a step back, enjoying their retirement or focusing on their personal wellbeing.
Yes, we can find many traditional older shoppers who stick to their favorites and try to rationalize their spending patterns. But keep in mind, that there are just as many “about-me” shoppers who are on the lookout for products and services that enable them to lead a healthy lifestyle. Older age groups push young brands, especially those which help them achieve personal objectives without requiring radical changes, such as non-alcoholic beverages.
Sustainability is a big concern and choice driver for silver shoppers, particularly the reduction of packaging and waste, and the origin of food – local and natural. While they are less prone to use services such as take-away or flash delivery, they continue to be the biggest consumers of meat, with the highest footprint – a good example of how older shoppers struggle to change some of their habits. Trust is also a factor: product quality and safety are important for Boomers, and they are skeptical about the healthiness of processed food, such as meat replacers.
Where to reach them? Media consumption of Boomers is focused on traditional channels – TV, radio, and internet browsing. Still, they are by no means anti-digital, requiring an ever more sophisticated media mix – traditional with a twist.
The Boomer generation is healthier, more active, and has a different lifestyle than their predecessors. Hence, they are very sensitive about how they are represented: don’t bluntly target them as old!
At the same time, convenience, adapted to the physical needs of older shoppers, should not be underestimated; whether it’s to facilitate the shopping experience – for example, more light, clear shelves – or in the context of healthy ingredients, with less salt, fat, and sugar.
And don’t forget about the grandchildren!