Features and tRends
(May 23, 2008)
Meet the "Ruppies"
Selling and Marketing to an Overlooked Opportunity
By Monica Cubbage
Retirement typically conjures up images of old ‘ma and pop moving to beach resorts, golf courses, quiet suburban life and assisted living communities. With the emergence of “Ruppies,” (also known as retired urban people) marketers are quickly changing their tune in the way they approach and appeal to this growing consumer segment. Why all the fuss? Simply stated, this influential demographic has an estimated $2 trillion in annual spending power and controls 50 percent of all discretionary income.
Comprised of affluent empty nesters, Ruppies are characterized as being born between 1946 and 1964. What’s more, they’re certainly not going quietly into retirement. They’re living their lives the way they want to, without any predisposition to the typecasts associated with retirement. Trading in those large, single-family homes for urban living spaces close to the action, Ruppies are setting the new standard for life after retirement.
Shattering the Stereotypes
According to MSNBC.Com, every eight seconds a baby boomer retires and becomes a Ruppie. Motivated by a desire to stay young and fit, Ruppies are looking to remain active and an integral part of “what’s happening” around them. In fact, 20 percent of this cohort claims that they are much healthier than other people their age, according to an in-depth study done by 50 Plus Research.Com.
Not to be confused with yuppies, this segment is less preoccupied with material things, instead wanting to help strengthen their community and build unity among its members. No longer tied down by school districts, lawn care and long work commutes, they are able to live where and how they wish. Instead, they’re trading up from bingo halls and suburban life to urban living complete with city parks, entertainment, fine dining and all the perks of metropolitan life.
The World Wide Web is contributing by breaking down the barriers of stereotypes when targeting this unique group. Sites such as Retirement Living TV.Com are redefining what it means to retire by offering its visitors education on the best places to retire, health tips on staying young and even interactive games to help keep their brains active and sharp. This site features ongoing blogs, forums and newsletters that allow Ruppies to stay connected to each other and up-to-date on what’s going on in their community.
Housing Preferences—Stop Thinking About Florida!
Ruppies are moving out of suburbia and into high-density communities found in big cities such as Atlanta, Los Angeles, Charlotte, and Chicago. They are choosing housing options within walking distance to coffee shops, public transportation, retail stores, parks, entertainment, restaurants, you name it. This dynamic group of aging adults is attracted to bustling areas surrounded by young families and students as age tends to “disappear” in downtown areas. For Ruppies, finding the right location—as an alternative to plastic surgery, pills and hair color—is the key to feeling young, healthy, and active.
Reaching this audience will have those in the housing market thinking past the traditional oversized Victorian home with a fenced-in yard. Builders and developers are increasingly investing in high-density housing that allows for more of a village-like atmosphere to attract a rising tide of Ruppies.
Capturing Ruppies’ Coveted Income
When making purchasing decisions, price is not always the determining factor among Ruppies. In fact, safety and convenience are typically the underlying factors when buying. Ruppies also tend to have a socially-conscious attitude, meaning the products they choose to buy and companies they buy from must resonate with this prevailing outlook. What’s more, their brand loyalty isn’t as high as you may presume. Customer service is vital to the long-term success of a brand and if Ruppies don’t feel that they’re receiving the highest quality service, they’ll abandon your brand.
When trying to appeal to Ruppies, avoid ageism and labeling them as “seniors” or “retired individuals.” Be sure your messages speak the truth and attract deeper meanings and emotional connections. This group judges brands, products and services by the value gained and expects more than just utility and functionality.
A New View on Retirement
Not surprisingly, the majority of Ruppies feel that they are inappropriately represented in marketing campaigns. According to Mature Marketing.Com, less than 10 percent of all campaigns even target them. Yet right before our eyes, this audience is stripping away existing labels of retirement with their unique perspectives on youth, activity, confidence and involvement in all areas of the community.
To counteract the way Ruppies are often misrepresented in the media, a new niche marketing agency, TGI50 is set to launch on August 16… that date aligning with Madonna’s 50th birthday. A new approach to marketing will target those over 50 through non-traditional campaigns using TV, annual rock festivals, dating services, employment agencies and even a chain of hotels. A greater number of contemporary brands that typically aim to reach groups 35 and under will be soon recognizing the importance of embracing the Ruppies market.
Even Match.Com is getting in on the action by targeting older audiences. Single boomers are now its second largest growing group of subscribers.
Trying to reach Ruppies with a mass-market strategy simply does not work. Home product manufacturers, builders, developers, architects and remodelers that speak to this group appropriately and provide them with information, products, services and experiences that meet their new desires for active and healthy living will provide a recipe for success.
Looking for more information on the Ruppies? Be sure to regularly log onto www.kleberandassociates.com for updates about the release of K&A’s Ruppies White Paper. Want more housing information? Click here.
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