October 19th, 2017 by Sam Del Rowe

Marketers’ age-related stereotypes are generating an overestimation of millennial value and an underestimation of the value of consumers age 55 and older, according to a study from recently launched brand consultancy Age of Majority.

Undervaluing the 55-plus market could cause marketers to lose combined trillions of dollars in revenue, the study asserts. More specifically, it found that 86 percent of marketers overestimate how much consumers under the age of 35 spend while 72 percent underestimate how much consumers age 55 and older spend.

“We launched Age of Majority with a mission to help brands evaluate what they are doing for mature consumers against the misperceptions and stereotypes that are holding them back from reaching this fast-growing segment,” Jeff Weiss, president and CEO at Age of Majority, said in a statement. “Given the potential size of the prize for brands that better understand and serve the mature consumer, it is an investment with a huge upside.”

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