Generation Greytt: The trillion-dollar market that brands continue to ignore

Moving through my 50s and beyond was supposed to be about freedom—a time when I could finally focus on myself, embrace new possibilities, and pursue interests beyond the daily routine. I imagined the world would share my optimism. Instead, it felt like society had decided it was time for me to wrap things up. I couldn't help but be amused that the world was trying to decide when I should pass the baton.

But here's the truth: I am far from done.

In fact, I feel more ready than ever to take on new challenges.

When I recently co-founded a startup Greytt (a platform that serves people aged 50 and above), friends would ask, "Why now? Shouldn't you be winding down?" It made me realise just how deeply ingrained these outdated beliefs are—that once we cross an age threshold, we're expected to stop growing, creating, and exploring. We're taught that life's vibrancy ends with youth, and what follows is merely coasting into retirement. Even services aimed at us feel uninspiring, based on stereotypical ideas of what life after 50 should look like.

The truth is—people in their 50s, 60s, and beyond are rewriting what midlife looks like. That's why my colleagues and I call this demographic 'Generation Greytt,' and we truly believe that beyond the grey lies the opportunity for us to lead our best lives.

And why not? We're digitally connected. In fact, we were amongst the first to afford an iPhone and enhance our search options with Google. According to insights we collected with Adna, 99% of us continue to be online, and 82% shop online multiple times a week. Not bad for folks who are assumed to be tech-averse, eh?

90% of us want to stay professionally active—with 77% preferring flexible work. We're not looking to 'clock out'; we're just looking for a gig that doesn't involve us 'clocking in'.

As for adventure? 96% of us are travelling internationally each year, and almost half do so multiple times. We're not just sitting around; we're out exploring the world (and taking selfies while doing it).

Yet, businesses continue to overlook this demographic, missing a major opportunity.

Believe it or not, failing to engage the 50+ market has commercial consequences; this group will be responsible for multi-trillion dollar global spending by 2030, and brands that fail to meet their needs stand to lose market share and loyalty. And the segment is only growing.

Ignoring this consumer base simply equates to leaving revenue on the table.

So, why are businesses treating us like we're slowing down?

One factor is the overwhelming focus on Gen Z and younger demographics. There's a 'mania' around Gen Z, likely because they represent fresh brand loyalty opportunities as digital natives. But this narrow focus on youth means brands overlook the more immediate revenue and loyalty opportunities with the 50+ group—a demographic that's already established, influential, eager to spend, and has money to do so. The reality is brands don't have to choose one over the other; balancing efforts across generations would bring in the best of both worlds.

Another challenge lies in outdated perceptions of what it means to be 50+. Brands are cautious about creating products for older consumers, perceiving it as a high-risk move that may not yield immediate returns. Many stick to incremental changes instead of boldly innovating with the 50+ demographic in mind.

Take, for example, golf equipment. Brands are offering forgiving clubs with senior-friendly shafts. Why start with an age-limiting assumption? Why not think of challenging the status quo and design ground-up from that perspective? In doing so, they fail to offer solutions that meet the unique needs of this age group — missing a demographic that values loyalty and quality.

To thrive in this evolving market, brands need to take the leap and fully engage with the 50+ demographic.

Here are a few factors to consider to be successful among this demographic:

1. Dive deep with research: We're not just looking for purpose; we're living it. Over 80% of us focus on adventure, not afternoon naps. Start with investing in understanding us.
    
2. Create, not simply repackage: We're tired of rehashed products. More than half of us travel internationally multiple times a year. Brands need to innovate and match our adventurous spirit.
    
3. Focus on value, not luxury: Just because we have disposable income doesn't mean we want to waste it. We love quality, but we're not paying for a "luxury" brand unless it's justified. Show us value, and we'll show you loyalty.
    
4. Communicate with respect: Patronising us is a surefire way to get ignored. We value authenticity—brands that genuinely respect us will build lasting connections. Remember, it's not about 'empowering' us, but simply facilitating our needs.
    
5. Embrace digital engagement: Surprise! We're digitally savvy. Over 90% of us are online, active, and ready to engage. Brands should get with the programme and meet us there.

Generation Greytt isn't just growing in size, but in influence. Brands that overlook us are taking a huge gamble—one my wisdom says isn't worth taking. We're just getting started, and the brands that recognise that will lead the future.