Barclays Corporate Finance has published research showing that the over 65s in UK spend a cool £16 billion on hospitality and leisure. This is more per head than any other age group.
Advice to the marketing people at Barclays. If you are going to generate a lot of media coverage then it is a good idea to put some mention of the report on the web site, preferably the ability for it to be downloaded.
Just 5% of businesses within the sector see those aged 65 and over as the most important demographic in terms of sales and revenue. In fact only one in five businesses (22%) ranked over 65s in their top three target age groups.
What a sad reflection on the competence of UK marketers. They still suffer from the affliction of not looking at the numbers and being guided by the latest fad. I bet most marketers in the sector spend more time fiddling around with their social media strategy than trying to exploit their highest spending customer group.
Then this has always been the way so I shouldn't be surprised.
Reading the Barclay's press release I get the feeling that they were shocked by the results. Dick Stroud
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