Many CPG companies in Nigeria tend to focus their attention and marketing efforts on the younger, more affluent demographics. However, the senior population in Nigeria, though smaller in size compared to the youth, presents an undeserved and lucrative opportunity that should not be overlooked.
Nigeria’s senior population (aged 60 and above) is estimated at >12m and growing. This segment often has more disposable income, established brand affinity akin to brand loyalties, and unique product needs that are not being fully met by current offerings.
Why Seniors Matter:
In the Nigerian culture, respect and value for seniors are deeply ingrained. Their opinions and preferences carry weight within families and communities. This cultural significance translates into purchasing decisions, making the Seniors segment a valuable target for brands.
As life expectancy increases and lifestyles evolve, the Seniors segment’s influence on consumption patterns is on the rise. They are active participants in various sectors, from health and wellness to leisure and entertainment, presenting diverse avenues for brand engagement.
Forward-thinking CPG companies recognize the strategic import of tapping into the Seniors segment. Tailored product offerings, targeted marketing campaigns, and personalized experiences can resonate strongly with this demographic, driving brand purpose, connection, and advocacy.
Product concept ideas worth exploring:
Nutrient-dense, easy-to-digest food and beverage products that support healthy aging.
Mobility aids and assistive devices to help seniors retain independence
Skincare and personal care items tailored to the specific needs of mature skin
Financial services and insurance products designed for retirement planning
Critical Success Factors for serving the senior demographic in Nigeria:
Understanding their unique pain points, values, and shopping behaviours.
Developing targeted marketing and communication strategies to reach this segment.
Building trusted brand relationships through customer-centric experiences.
Ensuring product accessibility, affordability, and convenience.
Partnering with healthcare providers and community organizations
Commercial Directors – by investing time to deeply understand and cater to the needs of Nigeria’s senior population, you can unlock a highly valuable, yet often overlooked, consumer segment for your company and brand.
The opportunities for growth and brand loyalty in this space are significant for those willing to make the effort.
For detailed insights on getting started and the support you need to tap into this segment, reach out to DKO Consulting today. Send a DM or an email to [email protected]
~ D.K.O
#DKOconsulting
#marketstrategy
#brandstrategy
#routetomarket
#expertconsultation
#salesandmarketing
#integratedcommercialexecution #linkedintopbrandstrategyvoice
