Insights About Marketing To Seniors

Seniors Outnumbered Teenagers in the Workforce
For the first time in American history there are more seniors than teenagers in the labor force. This is more proof that seniors today are active, earning money, and represent a golden opportunity for marketers.

Several recent surveys conducted by Civic Ventures, the AARP and other groups, show that a majority of Americans approaching retirement want to continue working past traditional retirement age and have a strong desire to remain productive and set new goals. Many plan to continue either working full time or part time into their 70s, and a substantial number into their 80s.

graph showing  senior citizen moving data

Source:Bureau Of Labor Statistics

Safety for Seniors
Each year 7,000 adults over the age of 65 die in home-related accidents and another 1.5 million experience injuries related to a fall, according to the Home Safety Council, a nonprofit group. In comparison, on average just 2,100 kids under the age of 15 die as a result of a home injury each year.
The number of adult injuries is staggering. Most of the experts believe that if homes were safer, there would be far fewer accidents.

U.S. seniors unite to build their own retirement ‘villages’
Retirees in the United States are banding together to create a novel solution to senior housing issues. Instead of buying into retirement homes or assisted living schemes, the seniors are forming as a group to buy land and create their own seniors-only development. Apparently the idea is catching on. There are 50 “co-housing” communities in development around the country, according to the article.

Age Restricted Communities – Club Med with Ramps
“Sunset Daze,” a new reality show beginning Wednesday on the WE tv network is set in a retirement community — “The Real Hospice Wives of Arizona.” But beneath the titillating promos of graying swingers canoodling in hot tubs, there is a more reassuring portrait of adults who can still act like kids but are at peace with their twilight years. As baby boomers age, that notion becomes all the more comforting. People want to see retirement homes and age-restricted communities not as warehouses for the lonely, but as a Club Med with ramps.

Seniors – Franchise Owners
Seniors opening businesses is part of a trend that has come upon the franchising world with surprising swiftness. Today, about 8 percent of franchisees or prospective franchisees are 55 years or older, compared with almost zero just five years ago, per “Franchise Info Mall.” Steve Hockett, president of FranChoice Inc., a national franchise referral network based in Eden Prairie, Minn., said about 15 percent of the people he now places with franchise companies, roughly 80 to 100 individuals over the last year, are 55 and older, compared with just a handful two years ago.

Baby Boomers – Real Estate Buyers
A 2006 LA Times boomer study indicated that more than 50% of homeowners ages 45 to 54, and nearly 60% of homeowners ages 55 to 64, rated themselves either “likely” or “very likely” to buy a vacation, investment or new primary home sometime in the next 60 months. Roughly 49% of owners 55 years and older say they are likely to move into some form of “active adult” community. One of five boomer households say they are thinking about moving to an age-restricted adult community — a figure more than double that of a similar study just five years ago.

Old Age – New Gizmos
The 2010 vast Consumer Electronics Show added an exhibition called Silvers Summit, devoted to new products for the aging and their caregivers, brace yourselves. American tech companies, taking notice of the unmistakable demographic trends, have launched a surge. “When you have a growing market segment, everybody wants a piece of the action,” said Majd Alwan, director of the Center for Aging Services Technologies, itself just six years old.