MARKETING TO SENIORS: DISTINCT AND PREVALENT

The world population surpassed 7 billion in 2012; 562 million (or 8.0%) were age 65 and over. In 2015, 3 years later, the older population rose by 55 million and the proportion of the older population reached 8.5% of the total... [ view full abstract ]

The world population surpassed 7 billion in 2012; 562 million (or 8.0%) were age 65 and over. In 2015, 3 years later, the older population rose by 55 million and the proportion of the older population reached 8.5% of the total population. (Wan He, 2016.)

According to a 2012 report from the U.S. Administration on Aging, the older population over the age of 65 was 43.1 million.  This number represents 13.7% of the total United States population,  about 1 out of every 7 Americans.  Since 2002, the number of older Americans over the age of 65 has increased by 7.6 million (21%).   The increased population of people under the age of 65 was only 7%.  The group between 45 to 65 who will reach the age of 65 or over in the next two decades will  increase by 24% (Censes 2013.)

However, this segment of the population is given inadequate attention by businesses that continue to focus on other groups.  Historically, the mature market has been ignored by industries because of myths and misconceptions held about older Americans.  These myths view the mature market as having lower income, poorer health, being set in their ways, and being inactive.  When advertising efforts reinforced and reminded them of how vulnerable and mortal they were, the advertising efforts fizzled or failed.  The growth in number and the relative affluence of this population segment implies an expanding potential market for the hospitality and tourism industry.  This article will examine the needs, desires, motivations, and expectations of senior travelers and their relationship to the Hospitality and Tourism market.