OUR VISION INTO 2024

Not to brag, but you don’t get to be as advanced as we are at Grace Creative without enhanced vision. Years of laser focus on what authentically makes a brand stand out, zeroing in on what truly matters to the consumer, spotting trends and fresh ways to make creative magic, and of course, nailing key insights based on research, data, and intuition, have equipped our multi-generational team with the gift of foresight and the advantage of years of hindsight.

With that in mind, we offer our perspective on the trends and opportunities awaiting brands who have the prescience to engage the 50+ market, otherwise known as the world’s third-largest economy. Isn’t it time you put it in your sights?

Thank you to Caddis Readers for framing age right! More about them below.

1. THE RISE OF LATER DATERS

“Many 50+ folks come to us stating that they ‘don’t feel their age.’ They feel "young" for the first time since their 20s or 30s.” - Kellie Ammerman , CEO, Tawkify.com

Pew Research reveals that 30% of adults 50+ are single, with 1-in-4 women over 40 never having been married. Lakshmi Rengarajan (she/her) , CEO of The Later Dater Today Podcast, tells us that the quest for companionship extends far beyond divorce including ethical non-monogamy, didn't marry, widowed, and coming out later in life.?For companies who understand the nuanced desires of "Later Daters", this burgeoning demographic presents a vast market opportunity not just for dating apps, but also for matchmaking companies, 50+ communities,?and travel and hospitality companies.

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2. EMBRACE OF Q3 TALENT

A paradigm shift is underway as companies wake up to the wealth of experience and wisdom that Q3 employees (age 50-75) bring to the table. Stephanie Bohn , CMO of Chief tells us, “The maturity and experience of Q3 employees not only enhances problem-solving and conflict resolution but also provides valuable insight into the needs of older consumers.” READ MORE

3. SOLO TRAVEL TAKES OFF

Solo travel will be a huge revenue win for companies that offer products and pricing for single women.?A 2023 survey of over 1,000 experienced female travelers by Trafalgar Travel and Journey Woman found that a whopping 44% of women 50+ are planning to experience new destinations solo this year. Of these women travelers, 58% will travel at least twice in 2024.

4. NEXT CHAPTER LIVING

Consider it your “refirement” home. Active living communities like Storyliving by Disney are attracting empty nesters as young as 55 with amenities, activities, and experiences akin to five-star hotels. With the NAHB anticipating a significant uptick in households headed by individuals 55+, the demand for communities that offer opportunities for more freedom and fun with less home-care responsibility are thriving.

5. NOT SO EMPTY NESTS

Fur babies are family, particularly to affluent women aged 50+ who spare no expense in caring for them according to a study by Infogroup. With 75% of pet owners boasting a net worth of $220,000 and up, businesses that tap into this audience’s penchant for pampering their pets (and incidentally, buying clothing, home decor and furnishings) can reap unprecedented sales growth.

6. WOMEN WILL DECIDE 2024

Women have decided the outcome of every presidential election since 1964 simply because more women turn out to vote. In 2020, over 82M women voted, with the highest share aged 45-64 (34%). Abortion and health care are the top mobilizing issues. There is one priority issue, however, for which there is no partisan divide among women: the ability of both parties to work together is a real problem. Let’s fix that. REGISTER TO VOTE

7. ANTI ANTI-AGING

Now here’s a brand that understands aging is cool. Caddis Eye Appliances is as they proclaim, “A mission disguised as reading glasses. CADDIS is?the anti anti-aging brand. That’s our stance. We want to have an open and frank conversation with you about how absolutely right on it is to be the age we are, right here and now.” SEE MORE