New research has revealed that 50 per cent of people aged over 45 say they plan to travel around New Zealand or overseas in the next 12 months, while 29 per cent are planning home renovations.
The nationwide survey of nearly 1700 over 45s, conducted by Colmar Brunton on behalfof News Works, has shed new light on the spending and media habits of this growing demographic.
The newspaper plays a key role, with 79 per cent of respondents saying they enjoy reading newspapers as they're in control of what they choose to read.
But how much does this enjoyment of newspapers translate to spending? Diane Hannay, head of marketing at News Works said the research had drawn strong parallels between newspaper reading and purchase behaviour. "For example 59 per cent of respondents have actually bought something as a result of seeing it in the newspaper."
The figure jumps to 72 per cent that say they decide where to buy something when reading the newspaper.
With 4 out of 10 New Zealanders already in this age bracket, projected to reach 42 per cent of the population by 2020, it's time advertisers took a closer look at this opportunity, says Hannay. Colmar Brunton executive director Chris Vaughan agrees, saying "they represent a largely untapped opportunity for businesses when you consider that outside of campaigns for funeral cover, retirement villages, home building and travel, boomers hardly feature in advertising." Vaughan believes if other categories such as cars, banks, technology - to name a few - took this segment more seriously they would reap the rewards. "The key to that is understanding more about the dynamics of the over 45s and that doesn't necessarily come naturally to average New Zealand marketers who are in their early 30s."
