Recession and the elderly

Since the recession began, advertisers have noticed a tend in companies targeting people over the age of 50. Chrysler, Kraft Foods, Procter& Gamble, and Target are some of the brands who have begun to market to this older segment. Traditionally, younger markets have been the main target of advertising as they have likely not formed any brand loyalties and could potentially become lifetime consumers. Conversely, the older segment was deemed unimportant as it was view to have a lower amount of money to spend and already formed brand loyalties. However, the recession has made them more appealing to advertisers. The fact that they are more likely to have their mortgages already paid off, coupled with the fact that they are not as likely to be losing a source of income as their younger counterparts, has made them a sought after target market. Also, the fact that the baby boomers are the ones who are entering this age group plays a factor. They are a very large group and will always be targeted. Also, they seem less resistant to change than previous generations.