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Wednesday, August 13, 2008

The South African 40+ market

Research undertaken by the Unilever Institute of Strategic Marketing and Synovate into older South Africans comes to some interesting but not surprising results. They are the same conclusions as in other parts of the planet.

It is a market crying out for marketers to target them with quality, age appropriate (not fuddy-duddy) products and services.

The over-40s feel ignored by marketers and:
• Overlooked by packaging and store designers
• Misrepresented or ignored by advertisers and the media.
• Invisible in shops and banks
• Disregarded by fashion designers

South African Prime Timers (another daft name) hold 30% of all university degrees; represents 30% of people who invest on the stock exchange; and owns 30% of cars on the road. So if you are marketing in South Africa you have been warned. Do remember that South Africa is a 'young' country with a very different demographic profile to Europe.

More interesting than the research is an insight into the Living Standards Measure (LSM) that is used in the country to categorise households. It is worth reading a description . Dick Stroud

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