While some banks have made efforts to become more age-friendly, they need to do more to prevent elder financial abuse. Although the finding that elder financial abuse is the second-most common form of elder abuse after physical abuse, came from a 1981 report, now 40 years later, financial abuse and fraud continue to cost older Americans […]
services
Could older consumers steal the Meal Kit business?
The Meal Kit business has been exploding since 2007 primarily among younger, time-sensitive consumers, but surely different benefits meet the needs of an older consumer too? Estimated to soon be worth between $3 billion and $5 billion a Meal Kit service provides pre-portioned ingredients for a number of meals every week. The customer can then […]
Are older consumers unworthy of innovation?
Why is it that innovation seems to be the unique domain of younger consumers? Each year I look forward to The Future 100 report published by JWTIntelligence. It’s a snapshot of the year ahead and the most compelling trends, themes and phenomena. A fascinating read which you can download via the link here. However, there’s something […]
Japanese fitness market dominated by consumers over 60 years of age. A sign of the times
Japanese gym goers in their 60’s account for 37% of the 400 billion yen spent annually on fitness clubs, while those in their 70’s represent 21%. This dwarfs the share occupied by younger folks in either their 20s and 30s, according to studies by the Ministry of Economy, Trade and Industry (2012) and Nikkei Marketing […]
74% of seniors have poor financial literacy. Problem or opportunity?
Poor financial literacy means that many older people are not making the most of their money in retirement. The findings from a recent survey conducted by the American College New York Life Center for Retirement Income of over 1,300 Americans (reported here in Motley Fool) show that almost 3 out of 4 people aged 60 to […]
How can the worlds’ most highly awarded resort spa improve its customer experience?
A better understanding of older customers leads to product and service innovations. In 2015, Silver Group held one of our ‘ageing innovation’ experiential workshop for Chiva Som in Thailand. One year later, their General Manager, Sheila McCann, spoke at the Asia Design and Innovation Conference. Hear what she had to say about it in this short clip.
Retailers worldwide need to think harder about the experiences that customers have in their stores
Employees play a critical role in this equation,
Three small businesses that are winning with boomer consumers
Always good to find success stories of businesses big or small enjoying brisk trade, courtesy of their focus on the cashed-up ageing consumer. Particularly
Singapore provides incentives to chase Millennial hotel guests? What are they thinking!
Singapore Tourism Board has announced some assistance to the industry through various grants,
China’s Ageing Market Now Worth $652 billion And Set To Explode
The industry is expected to rise to 106 trillion yuan ($17 trillion) by 2050, amounting to a third of the Chinese economy.
