Seniors are everywhere. The concentration of this aging demographic tells a different story from the other population. There are pockets of low concentration and high concentration in the United States due to a variety of factors. For instance, according to Esri, Florida is where many seniors relocate to enjoy their retirement years, while young people move out of Florida to pursue career opportunities elsewhere. As a result, the area experiences a higher concentration of seniors.
Senior community influences a wide variety of industry sectors because of their significant spending power. There is an increasingly profitable challenge for businesses offering products and services that meet the unique requirements of these specific senior segments.
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As needs and shopping habits grow, seniors search for products and services that can meet their evolving demands. While some businesses are already catering to the seniors market with brighter inventory lists with wider product selections.
A few of the senior segments are also becoming computer savvy and buying products online. Localizing merchandise can help retailers win this segment. For example, seniors today are changing their eating habits, switching to high-fiber and sugar-free products.
Developers should aim at determining which type of seniors they want to target. Housing requirements for seniors may vary as seniors’ need themselves. Their decisions are based on age, affluence, lifestyle, and geographic locations.
Although, demographics and lifestyle don’t tell the whole story alone. Seniors enjoy living near communities or locations that offer fitness programs, gym, golf courses, and a full roster of such activities to attract the senior set. We have an entire list of seniors that love fun social activities and you can target them.
Similarly seniors who enjoy traveling prefer the security of gated communities so that they can lock their house and leave it. Others buy homes based on anticipated health concerns.
Senior purchasing patterns vary frequently. This segment primarily lives in established neighborhoods where most amenities are within walking distance. But vehicles are needed when they need to travel. Data shows that seniors look for personal vehicles instead of depending on public transportation. Contrary to common misconception that seniors no longer drive, significant market analysis indicates that seniors with spending power look to buy for personal vehicles.
Above we have mentioned a market analysis of seniors who are constantly changing their demands and looking for more opportunities. Seniors today represent a fastest growing segment. These are excellent candidates for catering products and services too. Their range extends to club memberships, catalogs, retail, real estate, transportation, travel, entertainment and new business ventures. If you aim at these terrific groups of men and women prospects, your business can gain a significant lead in the market.
Senior Source has helped a lot of clients in the past years and provided them cost-saving ideas to make the most of their marketing dollars. Hear one of our clients:
“In the past year, Senior Source List has provided competitive pricing and unbeatable customer service. Their representatives are always attentive and willing to go above and beyond the call of duty to assure that their clients are pleased and receive exactly what they’ve been looking for. We look forward to continuing services with the Senior Source List.”