Wednesday, June 12, 2024

Recession-Proof Customers Are Over the Hill – Ha!

With all the doom and gloom recession talk going around wouldn’t it be nice if your customers were recession-proof?

My goodness that sure sounds wonderful.

  • Could such customers really exist?
  • If they do exist, how would you find them?
  • Could there be enough of them to focus on and build a customer base from?
  • If so, would they have any interest in the products and services you offer?
  • Would they turn out to be a bunch of skinflints with no discretionary funds?

Oh, how very wonderful it would be if such folks did exist and could/would buy your goods. Why it would be a business paradise! What a sales dream come true!

Well, it’s not a dream. Such customers do exist and they are eagerly waiting for you to call on them. Yes, they want your products and services. Where do these dream-come-true customers exist? Why, they are all around you. In fact you have been looking at them for years, but you haven’t really seen them. They are called senior citizens.

Seniors are the biggest (over 81 million), fastest growing (1 every 7 seconds) and highest net worth (own 79% of all financial assets) consumer group that exists in America today.

The reasons that seniors are close to being recession-proof are:

  • They have stable, guaranteed incomes from their retirement packages, savings, investments, social security and their medicare/medicaid benefits.
  • Most have little if any debt, owning their homes and cars outright.
  • They carry small (if any) credit card balances.
  • Child care costs are zero since their children are grown.
  • Utility and tax burdens are extremely low for this group.
  • They are quite cash positive with large savings accounts and very secure investments.

Translation, lots more discretionary funds than any other group of customers around. This all adds up to customers that are almost recession-proof with more money for wants.

Most seniors did without and/or denied themselves most luxury items while raising their children. Now they can afford to “slacken the reins” quite a bit and enjoy themselves. Seniors can buy what they want, not just what they need. This is why these consumers are spending more freely; and if you catch their eye, they will buy your goods and services in order to “splurge a little” (a lot actually) recession or not.

Seniors buy everything that any other customer buys, and then some. The only real difference between these consumers and others is that they have had more birthdays. They are truly the “Millennium Marketplace.” Companies that take notice of them, and then proceed to pay very special attention to them, will not only comfortably ride out any recession, they will reap a marketing bonanza of absolutely astounding proportions.

You can “Gain Market Share, If You Show Seniors You Care.”

Gary Onks is the author of “How You Can Reach & Sell the $20 Trillion Senior Marketplace” which is described as: “The ‘Art’ of pleasing senior customers”~ Washington Times “A ‘Breath of Fresh Air’ in senior marketing”

~ CD Publications Sold On Seniors, Inc. Phone: (540) 785-4438 or 800-416-8785”
Gain Market Share, Show Seniors You Care”

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles