Consider two New Zealanders who have recently turned 65. One owns a successful business, travels regularly, enjoys expensive hobbies and has considerable disposable income, while the other rents, works part-time and carefully manages every household expense. Although they're the same age, their financial circumstances, interests and purchasing motivations are so different that treating them as members of a single consumer segment tells us remarkably little about either of them.
Nevertheless, businesses routinely use age as a basis for determining what customers might want, how much they're prepared to spend and which marketing messages are likely to appeal to them. The assumption appears to be that people become increasingly alike as they get older, despite the considerable differences in wealth, education, professional experience, family circumstances and personal interests that they've accumulated over their lifetimes.
For businesses looking to reach consumers over 60, this approach can result in considerable marketing expenditure being directed towards an audience that has been defined too broadly to be particularly useful.
The commercial opportunity is considerable
Research published by Nielsen in April 2026 identified approximately 890,000 New Zealanders aged 65 and over, representing around 20% of the population aged 15 and older. Its Consumer & Media Insights research found that 27% of this group could afford to spend money on extras, while another 9% reported having few financial concerns.
That's a substantial number of potential customers with some capacity for discretionary spending, although the figures also illustrate why assumptions about older consumers' financial circumstances can be misleading.
Some have accumulated considerable wealth through property ownership, investments and decades of employment, while others depend largely on NZ Superannuation and have limited financial flexibility. Between those extremes are people with varying combinations of income, assets, debt and family responsibilities.
Businesses will find that the same product can appeal to different consumers for entirely different reasons, while others of a similar age may have neither the interest nor the financial resources to purchase it.
Age is a starting point, not a strategy
A 2026 academic paper published in the Journal of the Academy of Marketing Science, examining marketing strategies for the silver economy, argues that businesses should move beyond chronological age and consider consumers' needs and socioeconomic circumstances.
The researchers also highlight the different motivations that can lie behind apparently similar purchasing decisions. Two consumers might hesitate to make a substantial purchase, for example, but one may be concerned about future healthcare expenses while the other wants to preserve wealth for their children.
Understanding those motivations would be considerably more useful to a business than knowing that both customers are 68.
International consumer research supports this approach. A Human8 study reported in 2025 found that 68% of surveyed consumers over 50 didn't identify with typical descriptions of their generation, while 93% believed people should be understood as individuals rather than grouped according to age.
The findings suggest that the demographic categories businesses find convenient don't necessarily correspond with how consumers understand themselves.
The diversity businesses overlook
Consider a company selling premium bicycles. Its marketing team might reasonably expect its customers to include people in their 30s, 40s and 50s who have the income and enthusiasm to invest in expensive equipment.
However, a 67-year-old who has cycled for decades, participates in endurance events and understands the equipment may be a considerably better prospect than a 42-year-old with little interest in the sport.
The older cyclist's age tells us something about their stage of life, but their interests, experience, disposable income and purchasing intentions provide a far more useful indication of their potential value as a customer.
Similar difference can be applied across technology, travel, professional services, education, home improvements and many other industries.
A 63-year-old entrepreneur may have more in common with a 40-year-old business owner than with a retired contemporary, while a 70-year-old technology enthusiast may share the purchasing habits of consumers several decades younger; essentially, two people of the same age may have completely different attitudes towards spending and saving.
A more useful approach to segmentation
Businesses have long understood the value of identifying different groups within younger markets, and they are good at distinguishing between students, first-home buyers, young professionals, parents, and entrepreneurs because they recognise that people of similar ages may have different priorities and purchasing motivations.
That rule should continue to apply when customers reach 60.
Instead of relying primarily on age, marketers could examine financial circumstances, lifestyle, interests, attitudes towards spending, professional involvement, family responsibilities and the particular problems their products or services can solve.
Age might remain a passingly useful consideration, particularly where physical needs, health or significant life transitions influence purchasing decisions, but it should be one variable among several.
Someone turning 60 today was born in 1966 and may have spent decades working with technology, travelling internationally, managing businesses and making complex financial decisions. There's little reason to assume their next birthday will suddenly alter their interests or make them resemble everyone else in their age group.
The commercial opportunity presented by New Zealand's growing older population is considerable, but businesses will be better placed to benefit from it when they recognise the differences between consumers rather than treating age as a substitute for understanding them. Getting that segmentation right is a core part of fractional marketing leadership.
The 60-plus market exists as a demographic category, but the typical 60-plus consumer is largely a marketing invention.
Frequently asked questions about marketing to over 60s
Is age an effective way to segment consumers?
Age can help businesses identify broad demographic groups, but it's generally more useful when combined with information about customers' financial circumstances, interests, lifestyles and purchasing behaviour. People of similar ages can have very different reasons for buying the same product, making age alone an unreliable basis for marketing decisions.
How much purchasing power do New Zealanders over 65 have?
Nielsen's April 2026 Consumer & Media Insights research identified approximately 890,000 New Zealanders aged 65 and over. Of those surveyed, 27% said they could afford to spend money on extras, while another 9% reported having few financial concerns. However, financial circumstances vary considerably across this population, so businesses should avoid assuming that all older consumers have similar spending capacity.
What is the best way to market to consumers over 60?
Businesses should begin by identifying the particular customers most likely to benefit from their products or services, rather than treating everyone over 60 as a single audience. Research into purchasing behaviour, interests, financial circumstances and customer motivations can help businesses develop more relevant messages and select appropriate marketing channels.
Why do marketers stereotype older consumers?
Age is an easily measured demographic characteristic, which makes it convenient for defining target audiences. However, relying too heavily on age can encourage assumptions about consumers' interests, financial circumstances and capabilities. International research indicates that many older consumers don't identify with the generational descriptions and stereotypes commonly used in advertising.
Research references
Nielsen, New Zealand Consumer & Media Insights (2026)
