Piaggio, the manufacturer of the legendary Vespa, reintroduced its flagship product four years ago after a 15-year absence. It was surprised to discover then that 25 percent of buyers in the U.S. market were people aged 50 or older. Not exactly the target market it had expected.

Here are a few more surprising facts about the 50-plus group: They don't just buy Vespas, but also 25 percent of the toys in the U.S.; they like to switch brands like socks; they love gyms and are interested in cosmetic surgery; they hold around 70 percent of the disposable income in the U.S. and Israel.

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In short, while the 50-plus group, also known as baby boomers, may have grandchildren, it is a far cry from the traditional notion of grandparents - of a knitting grandmother, wrapped in a robe, rocking back and forth in her chair.

Appearance and health are very important to members of this generation, says Haim Peres of Club 50, an organization specializing in activities for this age group. "They are willing to invest a lot of money in both," says Peres. "That's why this is a group that undergoes a lot of cosmetic surgery and consumes huge quantities of vitamins and food supplements. The thriving of the anti-aging industry is, of course, a result of the needs and consumption habits of this age group."

Apart from looking after themselves, baby boomers share other traits as a consumer group: "In the U.S., they are referred to as empty nesters, because their children no longer live with them," says Michal Olmert-Neistein, the information manager at SIT, a company involved in systemic, creative thinking. "This has several effects, such as money that becomes available and numerous empty spaces in the home, which affects their consumer behavior: They can, for example, set up a yoga room, home theater and so on."

Another noticeable effect is in food consumption: People over the age of 50 prefer smaller food packages, because they don't need the quantities of food suitable for large families. They prefer healthy food and are willing to pay a lot for it. In addition, in the U.S. those over 50 share a sense of environmental and communal responsibility, a kind of desire to leave a better world behind for future generations - that's why they prefer organic food and packages that are less harmful to the environment."

Olmert-Neistein cites several other common baby-boomer traits: "Many of them join fitness centers, want to remain as long as possible in the labor market, maintain an active life style, vacation in exotic places and are also open to changes in their personal lives, such as second marriages, meeting new people, etc. In short, they take it as a given that life does not end at 60."

While it would seem that the winning combination - a large group of people with substantial financial means - would attract advertisers and companies, at least in Israel this is not the case.

Models starring in Israeli advertisements are aged 14-20, the worship of youth is apparent in almost every ad and even the presenter for Viagra, perhaps one of the products most clearly intended for this age group, is a model in his thirties.

Haim Peres has a clear explanation for this phenomenon: "It's not sexy to deal with ages 50-70," he claims, "and therefore, even though this is such a strong group, financially speaking, and even though those in advertising like to conduct studies to find money, they are driven by prejudices, in this case, and this age group is almost completely ignored. That is what happens when advertising agencies are controlled by people in their twenties."

The result is not only limited representation on billboards, but also discrimination in the marketing and design of products intended for this age group. Peres cites the banks as an example of this: "The banks have always focused on young people and tried to woo high school students, university students and soldiers, who earn very little, while in the meantime 70 percent of the disposable income is in the hands of a completely different age group.

"It's not rational. Somebody thinks that a soldier who today gets a no-fee bank account and a few other perks will also recall the bank favorably in another 10 or 20 years, when he has money, just because the bank gave him a free shoulder bag or tickets to a rock concert? It's certainly absurd."

It is possible that the banks and other companies and advertisers just think it is a shame to invest in a group whose consumption habits are set and hardly subject to change. According to Olmert-Neistein, this is a mistake: "Marketers have some myths regarding older people. One of the myths is that older people are already set in their ways when it comes to their brand preferences. But studies showed that the situation is exactly the opposite, they are actually more open than others to switching a brand or buying a brand whose name they don't recognize."

What advertisers and businesses in Israel have yet to grasp, the rest of the world already understands very well. In recent years, companies abroad have invested in targetting the 50-plus group. So, for example, two large fitness club chains cater specifically to this age group. According to Peres, "every year Curves opens more new branches than McDonald's." Curves is for women only, most of them older "who have no interest in competing with young women or exposing their bodies to men exercising in standard fitness clubs."

And speaking of fitness, there is also a chain of sportswear stores in the U.S. that appeals specifically to older, "more solid, less glitzy," people, as Peres puts it. The American clothing retailer, The Gap, even recently opened a subsidiary called Forth and Towne, which is aimed specifically at baby boomers.

There are agencies for older models in Germany, Italy, France and England, due to their demand in ad campaigns. There are also specific insurance companies and even a supermarket chain for an older population - with sitting areas, products in small packages appropriate for one or two individuals, and more.

Even though the world still belongs to the young in Israel, there are some harbingers of change - companies that are beginning to understand the business potential inherent in this generation. Smile Internet Zahav launched a campaign starring Saraleh Sharon, who offers computer lessons to whoever purchases an Internet package; the Lady Fitness chain of gyms for women is operating according to the same format as the American chain, and the Proportions clinics are also appealing to an older crowd.

It seems that those who try do indeed succeed: Zvika Sheinfeld, the deputy manager of marketing at Smile Internet Zahav, has reported hundreds of new subscribers each month following the Saraleh Sharon ad campaign and says the success was so great that "after two days we had to stop the campaign temporarily, because a huge number of people called and we had to get back to them all."

Peres believes that other commercial enterprises and advertisers will not be able to continue ignoring this large and well-established market for long: "This generation, which has a lot of money, is now raising its head and it will no longer be possible to ignore its substantial consumer impact. The revolution is taking place all over the world and it will also happen in Israel. It's just a matter of time."