The Australian media and marketing world has a serious case of youth myopia, so fixated on recruiting younger demographics that we're completely missing the money. Super Consumers, Gen X and Boomers are a $2.4 trillion powerhouse. Overlooking them feels like a strategic blunder, a social faux pas and a fundamental misunderstanding of who's actually driving the Australian economy.

Here's the thing: the 50-64 age group, these Super Consumers, make up just 22 per cent of the adult population, but they hold a whopping 38% of the nation's wealth according to ABS data. Research by Nine and Fiftyfive5 shows they are the driving force behind 60 per cent of car sales, 58 per cent of travel, and 58 per cent of hospitality and leisure spending. It’s a goldmine that's growing bigger every day as our population ages healthier.

Commbank’s most recent cost of living report underlines the divide: the under 40s cut both essential and discretionary spend last year, whereas the older population increased spending.

And that’s not a blip. Commbank and Quantium’s data showed the same thing two years ago: the 50-plus segment is now powering the consumer economy, outspending every single demographic across most categories while the pressured younger set bunkers down.

Let's talk about the economics of this. What we're doing right now feels like marketing malpractice. These Super Consumers aren't just spending; their wealth is growing. They're set to inherit $3.5 trillion in the next 20 years, not to mention the benefits of real estate and superannuation growth. Plus, they're helping the next generation – 55 per cent are ready to support their kids financially within five years.

This isn't just an Australian thing; the global over-50s market is huge, and it's only going to get bigger. We're talking about a major shift in buying power, and we're choosing to ignore it.

And it's not just about money. 75 per cent of Super Consumers feel misunderstood by advertising, and 64 per cent feel stereotyped. That's not just bad marketing; it's a social issue. By sticking to outdated and borderline demeaning portrayals, we're contributing to a culture that undervalues a huge part of our population. This isn't just an Australian problem; it's a global disconnect.

Think about the future. We're all getting older. By not connecting with the 50-plus audience now, we're alienating our future selves. Today's Super Consumers are changing what it means to age. They're active, health-conscious, and progressive. Life expectancies are up, retirement ages are shifting – we're in a demographic revolution. And, let's be real, the average age in the advertising industry is 31. Over 50s make up just 5 per cent of the digital advertising workforce. We're missing out on experience and creating a huge bias. Are we contributing to this devaluation in our own industry if we don't value them in our client targeting?

Let's ditch the stereotypes. Super Consumers are living younger, driven by health and technology. They're not interested in "age-appropriate" norms. They're spending more than any other group and they want authenticity. For example, 57 per cent want brands to talk about menopause and finances, and 52 per cent want open conversations about sex and relationships. Lets stop with the frail, diminishing portrayals and show the vibrant reality.

And they're generous. Super Consumers are purpose-driven. They support their families, donate to causes, and look for brands that share their values. Despite economic challenges, 16 per cent have increased their charitable giving, and 63 per cent donate goods. This is a global trend – older consumers want brands with a purpose.

So, let's move beyond the 25-54 target. Super Consumers are living life to the fullest and they're spending. It's time to update our strategies, refresh our creative, and talk directly to this amazing audience. Some brands are already doing it right, showing older adults in authentic, powerful ways.

It’s time to start recognising the incredible value of Super Consumers and actively marketing to its mindsets, wants and needs. The future of your brand – and maybe even your own future – depends on it.

At Powered by Nine, we've developed a playbook to help you navigate this evolving landscape. 

Sources:

• Represent 22% of population 38% of wealth: Australian Bureau of Statistics
• Welcome to half time show, Fiftyfivefive & Nine 2024
• WARC 2024
• Lifespan: UN World Population Prospects 2024
• Wealth gap: Commbank iQ Cost of Living Insights Report May 2024
• 3.5 trillion wealth transfer:  Australian Government Productivity Commission 2024
• Average Retirement age:  KPMG International  April 2024
• No topic off the table: Nine Consumer Pulse Survey Dec 2024
• Financial wealth of the super consumer outspending inflation versus every other demographic: Commbank iQ Old is Cool again May 2023