Back in 2010, Mintel’s Michael Oliver charted the rise of middle-aged men wearing lycra and their big impact on the cycling market (the BBC covered the emerging trend of the MAMIL soon after). Since then, it’s become a fairly widely used term, often disparagingly, and there are plenty of Kiwi chaps who appear to have swapped the flashy sportscar for the flashy roadbike—or at least added to it—as part of the obligatory mid life crisis. Now, in a continuation of ASB and Saatchi & Saatchi’s latest campaign that focuses on the type of conversations the bank believes New Zealanders actually have about money, it’s combined cycling with another one of the nation’s loves: property.
Unlike its previous ads, which promote specific ASB innovations that can help customers deal with their money issues, this spot is selling its home loans—and the ‘free’ Smart TV and Playstation 4 on offer to those who sign up for a loan of $100,000 or more. Many of the other banks have also been sweetening their deals, either with special rates or with their own home loan bribes (for example, ANZ is offering a free kitchen for construction loans and $2,000 cash for loans over $250,000 and TSB is offering $2,500 and the chnce for a $20,000 home makeover and BNZ ).
MAMILs, which Mark Hadlow calls formerly sensitive new age guys in a blurb about his new play called, appropriately enough, MAMIL, are funny creatures that are often mocked, even though, as The Guardian wrote, “as midlife crises go, dressing up in spandex and pretending you’re in the Tour de France seems a pretty benign delusion”. But when you see them at the cafe, just make sure they’re not faking it.