J. Walter Thompson MENA released its Generation BOLD deep dive featuring original analysis and key insights into the untapped yet tenacious Arab demographic of today’s 50+ age group, who are looking to have their needs met, with the spending power to match.
Engaged, numerous, and with financial influence, people born between 1946 and 1965 – which the agency has termed, Generation BOLD – currently represent 12 per cent of MENA’s population and over the next 10 years, the US Census Bureau 2014 statistics expect that population to number approximately 53 million.
Whilst brands appear to be preoccupied with Millennial consumers, J. Walter Thompson MENA sees huge potential in this virtually ignored segment of the consumer landscape. The report identifies the factors that set the stage for them to be so daring, as well as how they are influencing buying decisions across generations. It discusses ways to reach Generation BOLD through meaningful conversations that are honest, upfront, relevant and true.
But don’t expect these consumers to be putting on their slippers and sitting in front of the television any time soon. Shaped by the rise of Pan Arabism and having grown up with optimism and prosperity, this age bracket has a significant portion of its demographic that plans to start a new career. Young at heart, they are grabbing life with both hands.
“We went out to meet these contemporary consumers who are smashing outmoded notions of how one should live life beyond the 50+ milestone and found the opportunities for brands across multiple sectors, is astonishing. We identified four key typologies and discovered the perception that Generation BOLD is tech-phobic, is completely incorrect. This is a forthright and vocal group who have a lot to offer as well as cash to spend, yet perceive that society views them as something of a burden,” commented Mennah Ibrahim, Director, J. Walter Thompson Intelligence MENA and MENA Director of the Innovation Group.
