The Mature Market

From: Business Horizons
Volume 49, Issue 4 (July-August 2006)

“The Greydollarfella: An endangered species or a market opportunity?”
By Stephen Ogden-Barnes and Stella Minahan

“Greydollarfella” has an Antipodean ring to it: these authors, from Monash and Deakin universities in Australia, have coined the term to refer to men aged over 50, working or recently retired, who have time and disposable income on their hands but dislike shopping.

They claim the Greydollarfella, is an “ignored and endangered species”, neglected by advertisers and retailers who have concentrated on luring teenagers, younger men (including so-called “metrosexuals”) and women. Cited is the example of a mall in Hamburg that has a crèche for men, stocked with beer and computer games, where female shoppers can drop off their male partners. Such narrow focus, the authors argue, is mistaken, as older male shoppers offer “great value for marketers and retailers”. Not only are they susceptible to appeals from companies such as Orvis, which sells outdoor equipment and clothing, and Harley-Davidson. They are also more likely to shop online than their female counterparts. Shades of grey, it seems, could turn red to black.