Monday, November 1, 2010

Is James Packers strategy outdated? Is old the new young?

James Packer will use his new influence in channel ten to make the channel younger, more focused on 16-39 year olds.

But seriously... is targeting the young audience not a strategy for the past? Is it not - ehum - a way for middle age business men and cool hunting ad agency people to feel like a part of "the up and coming"?

Is it really the most clever path if you want to grow? Or is the new trend instead to target the old? The demographic structure is changing and pretty soon the largest part of the population - and the part with the money - will be past 60. By 2050 the proportion of the Australian population aged over 65 is set to more than double, to 22.7% - or 8.1 million people.

Tourism or people with a disability and the elderly - "access tourism" - is a growing market. The site travability´s founder estimates access tourism will account for 22% of total tourism expenditure in Australia by 2020 as cashed up baby boomers approach their mid 70´s.

The travel industry is not the only one that will need to come up with creative ideas on how to please the grey generation. This is relevant for tv channels as well - and cereal, soft drinks, banks and restaurants.

I knoooow that most things that start in the head of a clever Mark Zuckenberg nerd, will finally spread up in the age pyramid as well, and that most fresh ideas come from brains not yet bitter. i know there is a need to keep an ear to the ground and know what´s going on - but as consumers, the massive group of babyboomers will still have specific needs and values.

Is it time for us strategy planners, consumer insights strategists and futurists to go to aged care places to observe and have a chat? Can´t wait :)

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