More than half (55%) of global respondents in a survey said they are willing to pay extra for products and services from companies that are committed to positive social and environmental impact—an increase from 45 percent in 2011. Regionally, respondents in Asia-Pacific (64%) exceed the global average.
Assuming a positive ratio between a stated willingness to pay and an actual willingness to open one’s wallet, Nielsen’s global survey on corporate social responsibility found that the answer is yes for a growing number of consumers around the world.
Proving a link between buying behaviour and environmental-friendliness is the holy grail to motivate more businesses and consumers toward this worthy goal. I believe the same holds true for the issue of age-friendliness.
The more evidence comes to light that companies that adapt their products and services to the needs of older consumers are rewarded with a positive effect on sales, the sooner this market will explode.
It’s happening, but slowly and the results are often with-held to protect each company’s competitive advantage.
Until then, the more enlightened companies will gain an early mover advantage and turn the ageing demographic into a real business opportunity.