As published on Quirk’s under the title: Unlocking the potential of older consumers

What comes to mind when you think of an elderly person? For many, it’s still a dated stereotype – grey hair, unsteady feet and a quieter life. Yet, this no longer reflects the reality of ageing today. Our latest What Matters trend report highlights a growing shift: later life is increasingly seen as a time for reinvention rather than retreat. From picking up surfing to bonding with grandchildren over video games or even launching a social media career in their 80s, older adults are pushing boundaries and leading a ‘Silver renaissance’. In fact, 71% of people globally see later life as an opportunity for reinvention. Despite this vibrant reality, brands often fail to reflect these diverse experiences in their narratives.

Drawing from our collaboration with a leading UK financial services provider, this blog aims to bust persistent myths about later life, highlighting opportunities for brands.

Why 65+ is more than a number

Before debunking the myths, it’s important to address a common misconception about older age. While age shapes experience, it doesn’t define it. Assuming everyone aged 65 and older fits into the same mold overlooks the incredible diversity within this group. After all, we wouldn’t lump together 10-year-olds and 40-year-olds

To truly connect, brands need a more nuanced approach. Treating ‘later life’ as a single category risks overlooking opportunities to create meaningful connections and innovative solutions for this dynamic audience.

Age is a state of mind

One key stereotype to bust is that biological age dictates how people feel or behave. While ‘not being the age you feel’ risks falling into cliché territory, there is actually more to this when it comes to older adults. In our work with the U.K. financial provider, we found that many older adults experience ‘age plurality’. Some feel mentally young but are physically constrained, preventing them from living as they’d like. These individuals often feel unseen by brands that make assumptions based solely on their chronological age.

“You think we all listen to Frank Sinatra but don’t forget our generation gave you Pink Floyd.”

Equally, there are those defying their chronological age and continuing the life as they always have. For these individuals, ages 65 and beyond are markers on a page rather than barriers to living fulfilling lives.

“When people stand up for me on the bus or say ‘Ahh bless’ when they talk to me in supermarkets, I always wonder why they are treating me like an old person!”

Take for instance some of those we met during our research: Geoff who, at 92, is still running half marathons and hitting the gym three times a week; Ellen who, at 73, is seen as the tech guru among both her peers and family; or Cath who, at 76, still loves dyeing her hair and experimenting with new fashions.

“I’m 76 and have never felt my age. People are kind enough to tell me that I don’t look my age either. I have found that the best thing about ageing is, the older I get, the less I care what people think of the way I dress or style my hair (which I dyed shocking pink a while ago).”

These individuals defy the tired trope of ‘slowing down’. Yet, they often feel invisible to brands that fail to see beyond their biological age. This reflects a deeper issue: brands may assume they don’t gain much by paying attention to this demographic, treating them as ‘yesterday’s news’. This lack of reciprocity alienates a vibrant and valuable audience.

Second life, not end of life

Another outdated stereotype is that retirement marks the end of productivity and excitement. In reality, later life can be as disruptive or transformative as any other stage of adulthood.

Across our research, we’ve met couples in their 70s selling their homes to travel full-time, seniors embracing career changes in their ‘unretirement’ and others navigating challenges like bereavement or divorce. However, we’ve also met others in less fortunate circumstances who are contemplating returning to rental accommodation if they need to sell their homes for later life care, managing the bereavement of their adult children who have passed before them or have themselves become divorced and had to readjust to single life in their later years.

These disruptive moments, whether positive or negative, reveal unmet needs. Yet few feel that viable solutions are aimed at ‘people like them’. Sometimes, brands even close doors due to age. For example, Arin, a keen traveller in his 70s with manageable health conditions, had his travel insurance revoked simply because he turned 70.

Fortunately, some brands are tuning into the person rather than the number. Co-op Insurance, for example, launched a TV ad addressing age and health conditions as no barrier to its coverage. Solutions like these are only possible when brands listen to the person beyond the stereotype. With those aged 75+ predicted to add 2% to the UK’s GDP by 2040, the opportunity is clear.

Not all later-lifers have it all figured out

Contrary to popular belief, many older adults don’t have their ‘life admin’ in perfect order. Tasks like setting up power of attorney, writing a will or planning future care often remain incomplete.

This hesitation stems from various factors:

• Cognitive dissonance: Delaying tasks because they don’t ‘feel old’ yet.
• Emotional resistance: Making deliberate choices based on life experiences rather than rational pragmatism. Gerry, for instance, avoids setting up a power of attorney after witnessing family disputes caused by one in the past.
• Practical limitations: Lacking financial resources or support systems to make decisions. Mike, for example, hasn’t done any planning for when he passes because in his words “I won’t be here, it’s someone else’s problem to deal with.” Whether Mike genuinely believes this or uses it as a way to avoid acknowledging these financial limitations is up for debate.

These gaps reveal opportunities for brands to offer guidance, support and solutions tailored to later-lifers’ unique circumstances. Law firm Irwin Mitchell LLP, for instance, specialises in services for later-life planning, including lasting powers of attorney, wills, and estate management. They provide tailored advice to seniors and their families.

What this means for brands

Later life is no longer about slowing down – it’s about new beginnings, reinvention and embracing change. Yet, as long as brands cling to outdated perceptions, they risk alienating a vibrant and valuable audience.

The call to action is clear: listen, innovate and build relationships that matter. When brands move beyond age-based assumptions, everyone wins.

Let’s redefine what ageing looks like – and start seeing later life for what it truly is: a second chapter filled with endless possibilities.