Baby Boomers and 50+ consumers are at least as likely to switch brands and experiment with new products as teens and other younger cohorts.
However, most companies do little to nothing in their media placement, creative execution, product placements or loyalty programs to directly target Boomers and 50+ consumers. A recent executive survey performed by Focalyst (www.focalyst.com) found that over 65% of companies interviewed had no specific marketing plans to approach this cohort; typically, targeting the 50+ market segment didn't rank among the 10 top priorities in almost half of companies surveyed.
The conventional wisdom that drives this marketing lethargy is grounded in outdated perceptions of aging. Brand loyalty is not static but dynamic within the Boomers and 50+ cohorts and will continue to evolve as this group moves through various life stages.