The Age Gap
The world’s population is getting older and many consumers say the world isn’t prepared for the shift. According to the World Health Organization, 2 billion people will be at least 60 years old by 2050, which raises questions and concerns for consumers as well as industries.
To examine consumer concerns about growing old and evaluate how product and service manufacturers and retailers are meeting the challenges that arise with age, the Nielsen Global Survey about aging polled more than 30,000 Internet respondents in 60 countries. The findings shed light on significant gaps between the products and services currently available and what consumers say they need for their health and well-being in the “golden” years.
Top Six Concerns About Life in Old Age
Survey respondents highlight an array of consumer needs, ranging from in-store amenities like wider aisles and ample lighting, easy-to-read and easy-to-open product packaging, and transportation and housing assistance.
On the product front, more work is necessary to cater to seniors who often have special nutritional needs or dexterity limitations or desire smaller-sized food portion packaging. On the retailer front, one-in-three global respondents in Nielsen’s survey believe stores are not catering to the needs of older consumers by providing aisles dedicated to aging-needs products (34%), offering handicapped check-out lanes (33%) or lending assistance with grocery bags (36%).