There are about one billion consumers around the world between the ages of 50 and 70. According to the survey and report conducted by Boston Consulting Group, mature consumers exhibit a greater inclination towards travel, exploration and trying new experiences.
They feel financially secure and are considered resilient spenders, making them a highly valuable consumer segment, particularly during periods of economic uncertainty.
Targeting this demographic requires a more sophisticated approach from marketers than simply adjusting the age of actors and models in ads.
Mature consumers have significantly more influence over younger consumers than the other way around. They tend to look for reliable information, often from their personal networks or brands they trust.
The aviation industry is a marketplace where entropy tends to reign supreme yet predictability and reliability are the key pillars required for sustainable transactions. This requires data analytics from reliable sources.
Kenya has diverse wildlife and safari, breathtaking natural scenery and an immensely rich cultural heritage. How the Egyptians still snatch the top position as the most visited country in Africa makes one wonder.
But then again if one managed to visit the Internationale Tourismus-Borse (ITB) Berlin 2023, then it would be clearer why our self-aggrandisement and entitlement as the top tourism destination in Africa has long gone with the wind.
A visit to the North African countries’ stand took me aback. The confidence exuded by the mere digital presentations was a gasping moment for every soul.
This region has less than we do but they showcased it attractively to reveal more. They had more information and all industry stakeholders were present.
The Kenyan stand had less to show. Quite dull and thoroughly outdone by Tanzania.
To attract mature consumers that may well bring us more fortune, industry stakeholders need to read from the same script and converge to execute key strategic breakthrough activities.
Air Service Development is a strategic process that creates added value. It focuses on increasing connectivity and should focus on, among others, Market Assessment and Analysis, route development, traffic typology and Business Plans, as well as regular road map meetings at international industry events.
The foregoing must be done by the State, airports and airlines.
Airports should get talent staffing right and tailor-make training as well as create airport marketing committees.
The mature consumer needs improved customer experience. Such satisfaction indices require them to have enriched digital experience and transformation, process optimisation like predictive queueing that is now available with AI technology and better product mixes.
According to Boston Consulting Group (BCG), companies looking for growth and opportunity should consider the multi-trillion-dollar market globally presented by the one billion consumers between 50 and 70 years.
The writer is an aviation business analyst at Leverage Consulting.
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