Five reasons why … Edelman has formed The Longevity Lab

Edelman and the National Innovation Centre for Ageing (NICA) have unveiled ‘The Longevity Lab’, a global offering and resource for marketers designed to leverage the influential power and economic potential of the world’s 55+ generation.

Comprised of NICA’s extensive global VOICE network of more than 4,000 active citizens and powered by Edelman’s unique understanding of trust and generational influence, The Longevity Lab will be run jointly by Jackie Cooper, Edelman’s Chief Global Brand Officer, and Prof. Lynne Corner, Chief Operating Officer of NICA.

Five reasons why Edelman has launched The Longevity Lab

• The global source will lend expertise, insights and perspective, counselling clients on the untapped market potential of this generation of consumers. It will also inform on how best to reach and engage the generation and deliver successful commercial relationships and marketing efforts that win the loyalty and economic stakes of this generation.

• Sitting at a population of over 2 billion, there are more people aged 55+ than children under 5. By 2050, that number will double, suggesting that society is moving from an aging society to a longevity society. “This group, of which I am a part, is living longer, amassing more wealth, and willing to spend, and yet our industry has a massive blind spot where it concerns this generation,” Jackie Cooper added.

• A mere 5-10 per cent of marketing dollars are allocated towards over 55s. Edelman has launched The Longevity Lab to open the industry’s eyes to the power and potential of this demographic.

• The Longevity Lab also emanates from Edelman’s Gen Z Lab, which launched in June 2022 to help marketers more effectively engage the Gen Z consumer. After significant growth, three dedicated research studies, and $40 million (£31.7 million) in contributed revenue, The Gen Z Lab produced a core insight that inspired the formation of its longevity counterpart. Across Edelman’s generational research, the boomer generation has consistently been proven to be most similar to Gen Z in terms of consumer behaviour, discerning nature, and expectations for brands. Lynne Corner added: “The 55+ generation is just as vital to our societal future as Gen Z is. Where Gen Z may drive the cultural zeitgeist, the Longevity generation drives its economic undercurrent.”

• Those over 50 are responsible for half of all global spending. “Together with marketers, we can accelerate the delivery of services and products to a population mostly forgotten or stereotypically portrayed,” Corner said. “We want to challenge that and lead the change both for return on investment and on society.