We are entering the age of the aged, say new reports.

The world of fashion modelling is continuously evolving, reflecting society and economic trends.   London-based MOT Models, a leading model agency in Europe, has set up a new division called RETRO in response to latest developments that the post-war baby boomer generation is leading the way in the world of luxury purchases.

MOT MODELS: Two of their top models in the new RETRO division: Remco (43) and his father Aad Van Der Linden (72) are often featured in photoshoots for brands and retailers. 

Photo by Thomas Kettner.

Indeed, baby boomers (people born between 1945 and 1960 - as defined by the 2016 Mary Keener Internet Trend Report) are part of a global shift in consumer trends.  Brands and advertisers are interested in targeting mature customers thus they look for models who are real life characters with laughter lines, true life skills and also showcase the brand’s sophisticated qualities.

This latest development at MOT Models emerged just days after  Sun Branding Solutions - consultants of brand and packaging - have released a new whitepaper on the many challenges and opportunities presented by an ageing population that face brands, marketers and designers today.

Entitled Age Repackaged, the whitepaper offers some insight into how brands and retailers can learn from, and tap into, this powerful, growing market, according to Group commercial director Sonia Whiteley-Guest.

Indeed, the latest Family Spending report confirmed that one of the most important trends to hit retailers in the past decade shows a spending shift to the over-50s.

As the study from Sun Branding Solutions has revealed, brands and retailers focusing on millennials should remember that the over 65s will be the fastest growing consumer group this century.  In the UK today, there are 11.6 million over 65s (almost 20% of the population) holding over 80% of the nation’s wealth, according to the report. (Click HERE to read the full report.)

These ‘boomers’  are outweighing the under 65s by 3 to 1, and life expectancy is growing by five hours every day (The Guardian).

We are officially entering the age of the aged.

Globally, consumers 60 and over are expected to spend $15 trillion by 2020, according to a recent report from the Bank of America, and that this age group is more likely to buy into marketing and advertising than their younger counterparts – as long as brands get it right.

With the over 65s due to increase by more than 40% in the next 17 years, retailers and marketers need to focus on how to design and target their products for an agening population, looking into product development, pack structure and design, that can actually offer a better experience not just for this age group but for everyone, according to Sun Branding Solutions.  Their whitepaper shares insight from a diverse mix of experts, focusing on what our ageing population wants and needs and why developing by demographic just doesn’t work these days.

Back to the growing need for setting up a new division RETRO of more mature models, founder of MOT Models, Helen Illes, explains: “Today it is those aged between 50 and 70 who have true spending power. The post-war generation continues to explore exciting activities and wants to dress with style. Younger generations are struggling to make ends meet.

“Due to this, we are experiencing a shift with big brands who are looking for real life characters with true life skills. RETRO includes internationally renowned models with timeless appeal who have the personality, style and charisma to support big brands. These models must reflect the customers and showcase the brand’s sophisticated qualities. Advertisers need individuals who won’t be eclipsed by big brands.

Hellen Illes added, “The over 40s of previous generations instinctively behaved like older people with a set uniform of perms and pearls. This is no longer the case. The post-war generation have changed the whole of society wherever they hit with positivity at their heart. A perfect example is Joanna Lumley, who recently turned 70 and continues to be a style icon. The model industry reflects society and economic trends. Television, films and adverts for big ticket items are today geared towards the older demographic.

“Mature models represent the values of having fun, looking good and enjoying life at a time when previous generations would have slowed down. We are seeing baby boomers challenging stereotypes and taking part in extreme activities. Instagram is a great example."