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Sunday, May 18, 2014

Sometimes an age-silo product becomes age-neutral.

It is surprising how many people still confuse, worst still, don't know the difference between age-silo and age-neutral products and markets.

Very roughly, age-silo is all about products for older consumers that are specifically marketed to older consumers. Age-neutral covers all of the products that are sold and marketed to multiple age groups - often older people represent significant numbers of customers, sometimes the majority.

This report from Nielsen shows that it is possible for certain classes of products to move from being silo to neutral. In this case 'healthy ageing' products.

This is a quote from the report

Contrary to popular perception, the healthy ageing marketplace isn’t exclusive to Baby Boomers and older consumers. In the U.S., younger generations—including Millennials (between 18 and 36 years old)—are taking personal interest in their health and are increasingly driving sales in health care categories, such as supplements, vitamins and preventive care. This presents a huge opportunity for companies who understand the nuances of each consumer segment’s needs.

I guess we all instinctively know this is happening. I wonder what other examples there are of silo to neutral migration. Dick Stroud

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