BOLD Daring and undaunted by the huge social changes that have taken place in the Middle East and North Africa in their lifetimes, today’s 50+ consumers are wealthier, healthier and can look forward to more productive years than any similar age group in history, says a new report by J. Walter Thompson Intelligence MENA
Engaged, numerous and with financial influence people born between 1948 and 1964 currently represent 12 per cent of the region’s population.
This growing cohort of consumers over 50 in the Middle East and North Africa is drawing attention to the changing cultural preconceptions about ageing and retirement, a fact that will command much focus going forward. No matter what challenges they may face, this group refuses to be sidelined by younger generations. That’s why JWT’s study of contemporary MENA consumers in their 50s and 60s refers to them as ‘Generation BOLD’.
This cohort is expected to grow by 42 per cent from 2015 to 2025, yielding a projected population size of approximately 53 million. Taken together, Generation BOLD and its successor, Generation X, represent one third of the region’s population – a huge untapped market that is looking to have its needs met.
For one, vastly improved life expectancy and health have created a generation that is fitter and more energetic than their predecessors. While the average person in the MENA region could expect to live to 65 in 1990-1995, the average lifespan is expected to increase from 71 today to 73 in 2020- 2025, and to 75 a decade later. Shedding preconceived notions of what it means to be older, Generation BOLD is intent on maintaining youthfulness, keen to add life to years, not years to life. Rejecting traditional linear paths through ageing, they are skipping and revisiting life stages at will: dating, studying, travelling the world, launching new businesses and much more.
But it’s not just about their numbers. They are engaged, they are numerous – and they are ready to spend. Globally, the over-50s will have spending power worth $15 trillion by 2020, according to Euromonitor.
Demographic tipping point
The days of a predominantly young Middle East are approaching their end, as populations in the region grow older than they’ve ever been before. According to the United Nations Development Programme/International Labour Organisation, the ratio of youth to adult population across the MENA region decreased by 10 per cent from 1990 to 2010 due to declining fertility rates across the region. This, in itself, is a direct result of delayed marriage and access to contraception, and acceptance of it, as well as empowerment of young girls and women through education.
Generation BOLD and Generation X together make up one third of the region’s population but control a disproportionate share of its spending power, which is set to increase as the population as a whole ages. Brands ignore this group at their peril. A total of 73 per cent of the Gen BOLDers surveyed agree that today’s world caters mostly to younger audiences.
Generation Bold typologies
Generation BOLD, complex and diverse, refuses to be consigned to a box marked ‘grey hair and slippers’. An analysis of JWT’s MENA Sonar survey reveals four clusters of traits that allow us to segment Generation BOLD into four distinct groups: Traditionalists, Adventurers, Self-Actualisers andActivists.
The Traditionalist (37 per cent): Although fewer are choosing traditional retirement, over a third still prefer to spend their newly abundant leisure time just sitting back and relaxing. Traditionalists, who have dedicated their entire lives to their jobs, have no interest in starting second careers or reinventing them- selves, let alone changing the world. Nurturing caregivers at heart, they devote themselves to spending time with, or looking after, their grandchildren.
The Adventurer (36 percent): The adventurer values the unknown and the unexplored. Today, Gen BOLDers have a greater awareness of what’s out there and time on their hands to make up for a lifetime of missed adventure. As their bucket lists grow longer, the globe-trotting adventurers dream of exploring the world, one destination at a time. A newfound appreciation for experiences over possessions has made travel and adventure their new status symbols.
The Self-Actualiser (17 per cent): Motivated by financial need or personal pride, Self- Actualisers have no interest in slowing things down. Retirement presents a fresh chance to leverage their years of experience by trying out something new. For those who derive their identities from work, exploring a new career or starting their own business is the way to go. Those who crave continuous learning find that going back to school keeps them mentally astute and gives them a sense of purpose.
The Activist (11 per cent): Activists are the movers and shakers of this generation and the agents of change in their communities; the socially committed trailblazers of our times. They are the caring contributors who start foundations, support charities or fight for a worthy cause. On a mission to make a difference, these legacy-seekers are motivated not by money or status but by the desire to leave their mark on the world.
How to reach Generation BOLD
While brands in the MENA region are in hot pursuit of millennials, few are bothering to talk to Generation BOLD, which feels patronised, stereotyped and ignored by advertisers. And although they represent a group with considerable strength in numbers and cash to spend, only a mere 5 per cent of worldwide advertising budgets are, ironically, spent on campaigns talking to people over 50.
Those that manage to give them a little attention often miss the mark. Gen BOLDers are bored stiff with the same old clichés – grannies with curly grey hair; ecstatic couples hearts. To engage this potent audience, brands must throw out existing notions about this generation and rework their communication strategies. It’s time to change the conversation.
Time to break the silos
It’s time for brands to engage Gen BOLDers in a straightforward conversation about the everyday products and services they buy for themselves, for their children and grandchildren, and even for their parents. Brands will need to bank on age-friendly (not age-oriented) offerings to appeal to this cohort. According to JWT’s research, 84 percent of Gen BOLDers in the MENA region say they would just like to be treated like a person, not a stereotype. Don’t assume they are clueless about technology, fashion and culture and all the other ‘cool’ things we associate with youth.
Be honest and upfront
With 40 per cent of Generation Bold respondents in the GCC and 25 per cent in the rest of the Arab world strongly upholding the value of honesty, members of this generation hate ‘phoney’ ads that aim to deceive or that make outlandish promises. It’s important to remember that honesty is a priority for this group. They pride themselves on being smart enough to see through deception. Make your message simple, clear, honest and upfront.
Be relevant and true
Gen BOLDers want to see advertising that speaks to them about their lives: little moments of truth that spark recognition and empathy. If they can identify with themes, values or situations they immediately feel welcomed and i ncluded. They want to see people who feel real. Don’t create worlds that make them feel unwelcome. Using music, icons or symbols from their youth is a smart way to connect.
For example, Lebanon’s Timebox let pedestrians experience the streets of Beirut a century ago through stereoscopes latched on street poles across the city, allowing Generation BOLD to relive memories of their childhood in the city. Pepsi’s Ramadan 2014 campaign took consumers on another trip down memory lane, using the nostalgic sights, sounds and characters of yesteryear that Egyptians – older ones particularly – long for.
Make them smile
Light-hearted fun, cheeky wit or a clever one-liner make the world a better place. But Generation BOLD bemoans the grim-faced, humourless nature of ads it’s targeted by. Humour and wit – especially if it’s about their shortcomings – make a message memorable.
Café Najjar’s ‘Wein fi Lebneneh fi Najjar’ ad series regularly features Generation BOLD parents or grandparents interacting with their children who live abroad via live video chatting apps. The dialogue, which centres around the children making fun of their elders’ use of tablets and phones and aptitude (or lack thereof) with tech, constitutes a light-hearted approach that picks up on this generation’s amusing digital mishaps.
Forging a new cult
Our culture is captivated by youth. It’s often taken for granted that everyone aspires to look or be younger: that being in one’s 50s and 60s is a source of regret. We learned that this is not the case. Generation BOLD is not yearning to turn back time. Age does not define its members’ lives; their values and mindsets are far more significant than the number of years they have notched up.
They know that the passage of time has brought about much of worth: experience, friendships, memories and wisdom. They enjoy independence of mind and freedom to be themselves. Above all, Gen BOLDers have a strong sense of who they truly are, which imbues them with a confidencetheir younger selves never knew.
This feels like an enviable way to live. So it begs the question: why render them invisible and irrelevant, when they are embarking upon a new phase of life that is defined by freedom and confidence? It’s time to start afresh. To forge a new cult. The cult of Gen BOLD.
An extract from J. Walter Thompson Intelligence MENAs ‘Generation B-Old deep dive’