

All in all, the demographic changes in Europe imply an enormous economic potential. While these changes are still considered a nightmare by much of today's media (as characterised by notions such as ‘clash of generations’, ‘war on pensions’, ‘Methusalah complot’), the economic power of the 50+ generation makes one thing very clear: in the long run, only those firms that understand how to address the demands of this age group by designing products and services according to their needs will survive in most markets of the future. Although older customers in principle have basic demands similar to those of younger customers, there are a number of important differences in preference and consumption patterns, as well as a greater importance of aspects related to health, safety, independence, mobility, and social participation. Even if older customers do not explicitly articulate these needs, those products and services that implicitly recognise them, and offer ways to fulfill the demands that stem from them, will have a great market potential. Furthermore, older customers do not fit the cliché of conservative, technology-averse customers. Market research shows that the new generation of 50+ consumers likes to experiment and to try something new quite often. Traditional values no longer strongly dominate the decision to buy. Consumption is increasingly characterised by hedonism and self-realisation motives. Neither are older customers technology-averse. However, they only buy technology-related products if these, in their eyes, represent meaningful solutions to existing problems.