A consultancy aimed at helping brands tap into the spending power of the growing over-60s market is launching.
The over-60s are predicted to be at the forefront of the economic recovery in the UK as they have the wealth and savings and therefore the spending power that other younger groups, saddled with debt and redundancy, lack.
The consultancy, called Sagacity, has been set up by Mike Bingham, founder and director of over-50s specialist telemarketing call centre Senior Response. He has brought together a team of consultants from different marketing disciplines to work together to meet client briefs.
Other members of the “informal network” include Reg Starkey, creative director at YoYo Research, Pat Lowe of Total Media, Emma Reid of data consultancy Grey Sells, Dick Stroud of 20plus30 and Bill Fryer of Bill Fryer Direct.
The consultancy aims to advise brands on how to reach older people without treating them as an homogenous group. It is already working with bespoke travel agent Grandbreaks, which organises tailored trips for grandparents and their grandchildren.
“The older consumer will be at the forefront of the economic recovery, as the segment with its wealth, savings and spending power becomes more and more attractive to business,” says Bingham.
However, other recent entrants seeking to capitalise on the grey market have found the going tough. It is believed that the specialist over-50s agency tgi50, set up by Robert Campbell last year, is no longer active. Campbell is now working with Garry Lace in Campbell Lace Beta.