|
Within AMDEA we are constantly thinking of new approaches which will help our members sell their products. Our Commercial Committee meets regularly to consider a wide range of issues related to this. At its recent meeting it discussed the impact of legislation such as the Waste Electrical Directive and the proposed revision of the EU Energy Label.
The Committee also considered AMDEA's on-going Time to Change campaign aimed at persuading consumers to trade in older domestic appliances for new more energy-efficient models.
But at this meeting a new aspect of ‘selling the product' was also examined. In particular we discussed our target markets and questioned whether, as the industry, we are obsessed with the stereotype of ‘mum, dad and the kids' - the classic young family - as our main target market? Are we in danger of ignoring a potentially huge market of older people?
The AMDEA Commercial Committee considered the questions associated with older consumers - why they are important and what is different about them.
The power of silver customers
First, some key statistics:
- For the first time, there are now more people aged over 65 than under 16 in the UK.
- It has been calculated that the spending power of the over 50s is likely to rise three times faster than those aged under 40.
- 50% of UK households now consist of persons aged 50 or over.
So what are the particular requirements of older consumers?
First, it should be made clear that we are not talking about people with illness and disabilities. Of course, this group exists and has particular needs which must be addressed.
However, the majority of older consumers do not fall into this category. On the contrary they are living longer, healthier and more active lives than their predecessors.
It is true that muscular strength diminishes with age, and that the majority of persons with sight problems are over 65. Older consumers are aware of these facts associated with aging, but they value greatly their independence. Studies undertaken by the consultancy group Years Ahead have shown that 85% of older people feel it is important to maintain their lifestyle as they age, and two thirds would rather stay in their own home than consider other alternatives, such as being looked after by relatives.
Is the electrical market friendly to older consumers?
So what are we as manufacturers and retailers doing to tap into this market? I can say that AMDEA members are aware of the issues. The work on improving controls on domestic appliances is on-going but even today how many of them are easy and intuitive to operate? Are the products themselves easy to use? Are they easy to clean; do they require stooping or stretching? Are they as safe as they can be in terms of surface temperatures?
And what about the selling of our products? Certainly some retailers have recognised opportunities. A number of major retailers have lines of products aimed specifically at the older market. Retail associations such as retra have also encouraged staff training aimed at selling products suitable for the requirements of a wider range of consumers.
We can't ignore the fact that our customers are getting older. But let's try to learn more about what the over 50s really want. It's a market we simply cannot afford to ignore.
- Independent Business Awards 2012: The Finalists
- Defending the high street
- Staying a step ahead of the game
- Euronics members and suppliers give a show of...
- Baumatic unveils its ‘Win a Vespa’ campaign
- Cameras go pro
- The size matters
- Company's Update: Vogel’s at Godden & Curtis...
- Bissell launches a rental proposition for indies
- Zanussi launches QUADRO range









