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Good Old Opportunity
by Lynda Gutierrez

Right now, more than 310,000 people worldwide have reached or passed the 100 year mark (of whom about a quarter live in the US.) By 2050, that number is expected to grow more than 12 times over – comprising some 3.7 million centenarians. Where there’s life, there’s not only hope but also opportunity.

And that’s just counting those who’ve had a hundred candles on their cake! As of 2005, there were about 88 million people worldwide who were upwards of 80 – an already substantial number that is predicted to grow to 197 million by 2030.

Given that, statistically, women live longer than men, the majority of that demographic market tends to be female – and while their disposable incomes and their needs may be somewhat less than in other times of their lives, it’s beyond belief that they’re going to stop shopping altogether (or at least be the recipient of purchased goods.)

Holiday gifts to and from multiple generations of family members can add up to a lot of purchases on their own but there are any number of things that women buy (or that are bought for them) in order to make their homes, lives, and selves more comfortable and happy.

Since older bodies require less sleep, longer days mean more hours to be filled with hobbies or other entertainment solutions. And because there’s no getting around the aches and pains that come with age, home spa goods hold appeal. Getting older can also mean spending more time at home so new décor items can transform cabin fever into cozy nesting. And, of course, women of any age like attractive and flattering clothing – though this, sadly, remains a need almost entirely unfilled for women over a certain age.

Too often retailers (and the world in general) turn a blind eye to people as they get older but it’s increasingly vital that they stop and look at those who have passed their seventh or eighth decade. They’re not generic ‘old people’ – they’re the same individuals they always were…with perhaps just a bit more mileage.

The Wii, for example, has become standard equipment in senior centers and even nursing homes around the world. In Australia's Catholic Homes Corpus Christi, residents have found fencing (the sword type) a great way to keep sharp and active. Others have gone online – such as Maria Amelia Lopez whose blog became a hit at the age of 95 or Bayla Scher whose monthly podcast “Feed Me Bubbe” debuted when she was 80.

In our youth-obsessed world, age scares us – so we try to pretend it’s not there (and will never happen to us.) But it will. We might as well build a pleasant and age-friendly infrastructure of retail outlets and services for those who have achieved long lives, if only to ensure that it will be ready to serve us when we get there.

Have comments, insights or questions? Let me know at Lynda.Gutierrez@Nielsen.com.

 
 

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