Family plays a key role in Gen Xers’ lives as they prioritize taking care of others, impacting their behaviors and consumption habits.
Laura Menegon, Analyst Food & Drink, LATAM
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Executive Summary
- What you need to know
- Analyst outlook
- Challenges
- More than half of Gen Xers provide support for elderly parents
- Pension and labor reforms and economic crisis lead Gen Xers to worry about retirement
- Social polarization drives families apart, impacting Gen Xers
- Opportunities
- Muscle health should gain importance, especially among Gen Xers
- Brands can explore Brazilian identity in products and packaging to attract black and brown consumers
- Products designed for Gen X’s specific needs can gain market share
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The Consumer
- ‘Sandwich Generation’: support for elderly parents and children
- Accumulation of responsibilities leads to worsened wellbeing
- Women are more likely to take care of older family members and small children
- Focused on wellbeing, companies offer benefits for employees who take care of elderly relatives
- Products with the proposal of “taking care of those who take care of others”
- Focused on savings and convenience, companies and products can offer solutions for the whole family
- House maintenance is the only activity men are more likely to provide than women
- Graph 1: type of support provided to parents, by gender, 2023
- Showing the benefits of sharing care tasks can encourage men to be more participative
- Promoting honest dialogues encourages couples to do the same in their own household
- Elements that form the identity of Generation X
- Family role is a defining factor for most Gen Xers
- External issues impact family life
- Campaigns use humor to encourage dialogues and resumption of relationships
- Dialogue and respect between generations are also shown in institutional campaigns
- ‘Being Brazilian’ is more important for black and brown Gen Xers
- Graph 2: elements that form the identity of Generation X, by race, 2023
- Brazilian cuisine can offer pleasant moments in an affordable way
- Beauty and personal care brands can highlight Brazilian ingredients and offer care rituals
- Lifestyle priorities
- Being in good health is a priority for Gen Xers
- Graph 3: lifestyle priorities, Gen Xers, 2023
- Awareness of muscle health should boost the search for physical activities and functional food
- Brands can go beyond the high protein content to improve muscle mass
- Friendships are essential for Gen Xers, but having a close group of friends is low priority
- Brands can promote meeting occasions focused on Gen Xers
- Attitudes toward life, career and family
- After reforms, retirement is no longer a certainty and Gen Xers will have to work for longer
- Graph 4: attitudes toward life, career and family, 2023
- Brands can sponsor and promote content about financial planning
- Products with brain and cognitive health benefits will help consumers stay active
- Products that offer brain and cognitive health benefits
- Attitudes related to Generation X
- Job opportunities for Gen Xers can benefit employees and companies
- Life experience brings valuable contributions and expands teams’ diversity
- ‘Age-Friendly’ seal and mentorships help increase participation of 50+ professionals in areas with little representativeness
- Gen Xers want brands developed for them
- Food and drink developed for Gen Xers can focus on specific benefits
- Food and drink brands can invest in ingredients that provide quality sleep
- Traditional ingredients can provide relaxation and a good night of sleep
- Supplements and vitamins can provide relief for menopause and perimenopause physical and mental symptoms
- Gen Xers are a potential target for beauty and personal care but brands should abandon stereotypes
- Products focused on menopause and perimenopause should grow in the Brazilian market
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Key Players
- Marketing campaigns and actions
- Brazilian beauty brands already use a more positive approach to aging
- Mercantil bank campaign against ageism
- Advertisers create group to combat ageism in the market
- Campaign offers a tool for everyone to experience ageism
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The Market
- Aging of the Brazilian population should overload social security and public health systems
- Graph 5: Brazilian population, by generation, 2023
- Brazil has more than 50 million users of private health plans, and Gen X users will grow the most
- As life expectancy grows, so do Gen Xers’ financial situation concerns
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Appendix – Definition, Methodology and Abbreviations
- Report definition
- Methodology
- Abbreviations
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