Lights, Camera, Action! – It’s Movie Time for Seniors
Another manic Monday? Take a break to read this week’s Monday Recap! Each week we like to review and recap mature marketing news and content that had the most engagement. This week, the ActiveRain Blog discusses increasing home prices are outpacing household and theguardian.com explores the steadily increasing interest of U.S. seniors in the cinema.
Most Shared: Homeownership: Bridging the Largest Gap Between the Young & Old
It’s a tough time for first-timers seeking homeownership, but not seniors. Per ActiveRain.com real estate sales are rising and are showing no signs of slowing. While U.S. buyers are benefiting from low interest rates due to Britain’s exit from the European Union real estate prices are outpacing household incomes – with many would-be first-time homebuyers unable to afford housing prices.
According to the article, homeownership rates among seniors has been stable and is expected to remain steady. In fact, 80% of those who are 60+ own a home whereas only 34% of 35 year olds own a home. As strategic marketers, we must keep that in mind when positioning to this target audience. If over 80% of our target market has a home, we must be doing everything possible to help make buying a new home an aspirational move. For marketers, consider offering solutions such as financing and investing options, moving/packing/organizing assistance, or even a “Try Before You Buy” program to further drive your USPs and help prospects sell their current home.
The article went on to note that according to the Federal Reserve the total net worth of Americans is $85 Trillion (almost double what it was in 2000). The largest gap is seen between younger and seniors. The net worth of the average older household is $210,500 vs. the younger household who that is only $10,500.
Many of those who can’t afford to buy a home are staying with dear old mom and dad longer, which means that adult child campaigns and specialized messaging could be more effective than ever. For some families, senior parents are even considering the need to incorporate space for their adult children as a decision factor in their next move. For marketers, especially those targeting boomers and beyond, understanding the household incomes of your target audience can help drive relevance.
Index of National Median Home Prices & Median Family Income as of 4/2016
Source: ActiveRain.com/ NAR Research
Most Clicked: Seniors Heading Back to the Movies
Pass the popcorn!” or “Down in front!” might easily be the whispers of seniors around the country. As we know, the newly retired are the wealthiest they have ever been so it’s no surprise that all that disposable income is going to leisurely activities such as going to the movies.
Seniors spent years raising their families and were much too busy to see a movie. Today, however, they are watching movies more than ever and box offices and movie makers alike are taking notice. According to TheGuardian.com, both America and Canada reported 15% of 60+ were defined as “frequent moviegoers” in 2015 and increase from 2014 and 2013. As marketers, it may be wise to invest in an on-site movie theater or perhaps generate some interest by promoting a proximity to local movie theaters in the area. It’s not only films that are highly attractive to seniors, many find “Event Cinema” options appealing, flocking to the theater to see live-streamed ballet or opera.
Theater developers are making great strides to create an even more welcoming environment for these “silver screeners”. In fact, enhancements include increasing sound-absorbent materials around the theater to ensure better hearing and improvements in comfort including seat widening. These are all important to keep in mind if you’re planning to add an on-site movie theater to your list of amenities.