Marketing broadly to the "mature consumer" is a mistake (Conaway 1991). Just as “working
women” or “Hispanics” are not homogeneous segments, neither are consumers over the age of
60.
According to the 2010 U.S. Census, there are approximately 50 million Americans age 62 and
older representing 16% of the total population. This number increased by 8 million in the last 10
years.
Chronological age ranges is one segmentation scheme, while cognitive age is a better predictor
although it does not create easily identifiable segments. Another segmentation basis suggested
has been employment.
This is a study of the current wisdom and fallacies in the segmentation of older consumers. First,
the demographics and segmentation schemes of the older consumer market will be presented.
Finally, a study will be suggested to pursue the question of whether marketers know their mature
market.