Economic power is not where marketers think it is A few days ago, Mumbrella Asia published an article summarising a keynote by Ad Contrarian Bob Hoffman’. In it, Hoffman questioned why marketers are fixated on a youth demographic when women over 50 control 95% of household expenditure. The statistics on this generation should be a marketer’s dream. Not only is the Baby Boomer cohort large, it’s disproportionately wealthy. The US Boomer generation on its own constitutes the third largest economy in the world (if it were a country only US and … [Read more...]
Is your tourism business ready for a seismic shift in demographics?
Pick your metaphor: Demographic tsunami or seismic shift . Whatever you choose, the largest shifts in demographics we may ever have seen are coming to your key markets. The overlap between demographics and generations that govern most marketing assumptions (e.g. that Millennials are Youth travellers) are changing. Whatever demographics you target, be it Baby Boomers, Millennials, Gen Z or Chinas 90s kids, you need to understand what is about to happen. To help you understand the implications, MyTravelResearch.com has worked with PATA to … [Read more...]
Why You Need To Target The Senior Traveller
The seniors market is the most ignored and underestimated segment of the travelling market. We are unlikely to see another generation of travellers so cashed up and time-rich in our time. We have created an infographic to help you get started with targeting the senior traveller. … [Read more...]