Retailers Must Respond to the Shopping Needs of the Senior Market

Retailers beware! Seniors not only buy different goods and services than shoppers of other generations, they also shop differently.
Consider these observations — and the chart below — from Nielsen:
“We’re all getting older, but we’re also living longer. And as the world’s population lives longer, mature consumers are focused on staying active and being healthy. According to the World Health Organization, 2 billion people will be at least 60 years old by 2050, presenting a prime opportunity for retailers to take stock of the segment’s particular needs. So how can retailers across North America better serve the needs of this growing and lucrative segment of health-focused seniors?”
The first step is identifying consumer pain points. And when we look at the results from a recent Nielsen global aging survey, North American respondents indicated that certain store features or services ‘don’t meet or only partially meet the needs’ of aging consumers. For example, only 37 percent of respondents believe stores provide adequate handicapped ramp and door access, and only 34 percent believe aisles are sufficient for handicapped accessibility. Additional areas of opportunity include providing electronic shopping carts and online delivery options, two categories that ranked low among North American respondents in terms of fully meeting aging consumer needs.”

 

 

This entry was posted in Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer and tagged , , , , , , , , , , , . Bookmark the permalink.

One Response to Retailers Must Respond to the Shopping Needs of the Senior Market

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