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About Dick Stroud

Dick Stroud is the founder of 20plus30, a consultancy specialising in marketing to older consumers. He is the UK’s leading expert in understanding the implications of physical ageing on the way older people behave and the products they buy.

Marketing to the Ageing Consumer
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50-Plus Marketing

News, views and opinions about the most powerful group of consumers - the 50-plus market.

Thursday, March 05, 2015

So young Marketer, how do you ensure a LifeTime customer experience (CX)? Watching this is a good starting point.


Kim Walker and I believe every customer experience should be designed to accommodate the needs of the widest possible range of consumers.

Lifetime Customer Experience anticipates the evolving changes in our body, mind and senses to deliver the optimal customer experience for the greatest number of consumers.

Common sense you might think? Indeed it is, but very few, and I mean very few, companies apply this obvious fact when defining their CX. Kim and I call it Lifetime CX.

This video shows how Kim goes about explaining the concept at conferences and TV interviews.

Great content and terrific style. Dick Stroud

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Intergenerational Report to show Labor's spending was growing out of control

I don't know why I am comforted to read headlines like this, when they are not in the UK, but I am.

Australia has just released its Intergenerational Report (the fourth edition) and it has been met by a wave of protests. It seems as if the thing is being used as a political tool to bash the opposition parties.

Kaye Fallick, who publishes the great online magazine, YourLifeChoices provides some good insights into what it is all about.

I have been increasingly aware that the implications of ageing and the reality of the different financial state of the generations is being adopted as a political football.

In the UK, the Labour party is trying to wrap its arms around 'the young' with promises of reducing their university fee rates whilst damning their parents and grandparents for the financial greed and the tax breaks. The Government, is accused of pandering to the older vote, even though its policies have created havoc with their retirement income expectations.

I know from my reading of the US press that the same sorts of arguments are going on there.

It doesn't matter where on the earth you look the intergenerational 'debate' assumes the status of a Xmas Tree (i.e. everybody can decorate it with their own political hang-ups).

The same, small minded thinking, infects politicians the world over. Maybe there is a politician gene?

OK, so what the hell has this to do with marketing. Well, rather a lot. Something I will return to in a while. Dick Stroud

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Wednesday, March 04, 2015

Wall Street Has Its Eyes on Millennials' $30 Trillion Inheritance

There is a lot more talk about Millennials in the media. This is the age cohort born somewhere between the early 1980s and early 2000s  (i.e. they are somewhere around the age of 17- 35).

It is a totally artificial definition so we don't have to be too worried about the exact dates or indeed how many of them are - somewhere around 90 million in the US.

Here are a couple of items that gives some more detail. All rather superficial but you will get the idea.

Goldman Sachs report
Federated Investors report

The important thing is that this group of people will be inheriting a lot of money over the coming decades. Exactly how much depends on how long their parents live and how much they decide to spend. Somebody has come up with the figure of $30 Trillion. It is a big number.

One thing you can be certain of is that nobody really knows how much money it will be and over what period.

Like their parents, this group's wealthy to moderate wealthy will be a relatively small number. I think we can be certain that most Millennials will inherit  next to nothing.

All the more reason whey marketers need to be ultra smart at identifying this small fragmented group. Dick Stroud

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Tuesday, February 24, 2015

Millennials like their parents are not all the same. The ones in Europe are really despondent




Today's FT has an article about how the young in the UK get a rough ride of things and it is all the faults of their parents. This Boomer Bashing has become an unwelcome occurrence over the past couple of years.

One of reasons why life is tougher in Europe for the young (and the old) is that the economic balance between West and East has been changing.

The Harvard Business blog has some fascinating research that shows the different attitude of Millennials worldwide.

Just look at the attitudes of Western Europe to when they expect to retire. Compare that with Asia Pacific.

We live in a big, big world where your competitor is not the guy up the road but is likely to be based in India or Viet Nam. I fear this fact has not got through to that many people.

The issue for marketers is that trying to pigeonhole Millennials as having consistent attitudes is just as daft as doing it for their parents. Dick Stroud

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Student debt - the next sub prime disaster waiting to happen? Maybe. Almost certain

This has absolutely nothing to do with marketing, demographics, customer experience or the other subjects I write about. This is purely me sharing with you a big concern that keeps raising itself in the media.

When sub-prime mortgages were first talked about they were a page  6 item in the financial press. It didn't take them long to get to page 1.

My fear is that student debt is in the same league as sub prime.

Just look at these facts.

In roughly a decade, outstanding US student loan balances have tripled to $1.16tn, more than any category of consumer borrowing other than the $8tn or so in mortgages. By contrast, car loan debt is $955bn and credit card debt is $700bn.



The really interesting part of the analysis was of the type of loan that was not being repaid. It was the small loan. Clearly, there were loads of young Americans that started a college degree and quickly dropped out. Does that sound anything like the UK? Mmmm





In the FT today (24th Feb 2015) it was announced that the Government was to 'set aside' £2bn to cover potential write-downs in the value of existing student loans in this financial year alone amid an increase in graduates’ failure to repay.

The policy for 50% of young people to get a degree took now account of the demand for their skills and the likely income they would receive. Not good. Dick Stroud

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