In a high profile launch of a new organisation, “The Life Trust Foundation”, Lord Hunt of Wirral described the financial implications of an ageing UK population as a “ticking time bomb of longevity” and the United Nations has described the overall impact as second only to global warming. As a consequence in my prime, as experts in the field, was invited to comment on the subject on BBC Three Counties Radio last week. We also had the opportunity to address a meeting of members the Chartered Institute of Management Accountants who found it a great eye-opening experience, with plenty of food for thought.
But still, in commerce and government alike, the topic is treated as the archetypal “elephant in the room”. Everyone knows it’s there, everyone can see it, but nobody wants to acknowledge it or talk about it or do anything about it. However, time is running out and there are lots of questions to address – not all of them bad. Again, only last week came the announcement of another new marketing agency being established to meet the needs of the over 50 consumer. This brings us to another question, before anyone makes the point. Is there such a thing as an over 50 consumer? Should we feel pleased that people are taking notice of our requirements and our concerns, or do we feel that we are being patronised? Personally, I am totally comfortable identifying clearly what features I am looking for in a product or service, articulating this succinctly and then “putting my money where my mouth is” in a mature, adult fashion.
