HOW CAN BUSINESS BETTER SERVE OLDER CONSUMERS?

The world’s aging population means that tomorrow’s markets will comprise increasing numbers of older people. However, people become more dissimilar as they age, and what works for younger consumers does not necessarily work for older people. Some companies have been slow to target older adults, while others have been criticized for their lack of empathy and insight into their consumer needs. This conceptual paper outlines the importance of the senior market, evaluates some of the age-related changes which impact consumption in later life, and discusses the ways in which businesses can ensure they are better equipped to take advantage of a lucrative and expanding market