Understanding what seniors want

Understanding what seniors want

Market Insights

Understanding what seniors want

 In the coming years, manufacturers will need to change up whom they’re targeting with their products.
 
They want quality and they’re willing to pay for it
According to a report conducted by the United Nations, by 2050, nearly one-quarter (22%) of the global population will be over the age of 60, compared to just 8% today. While millennials will still make up one of the largest demographics in history, the older generation will play a crucial role in driving product development, marketing and sales.
 
As manufactures look to make more senior friendly products, it will be important to keep in mind that nearly one-third of seniors actively search for products that contribute to a healthier lifestyle. In addition, the 60-and-older demographic prefers higher quality products and members of that demographic are more willing to pay for them. That being said, they are also more loyal to brands they trust and are less likely to experiment once they have found those brands.
 
Food that suits their unique needs
Additionally, it’s important to remember it’s not about making products “for seniors.” It’s about subtly hinting at the demographic while innovating with products and packaging to make it appear ageless. 
 
Carolyn Heneghen from FoodDive explains, “Seniors will also have particular health needs that millennials and other generations may not. Manufacturers are already embracing medical foods, including those made by Nestle and Hormel, to promote healthy lifestyles and aid older consumers with a variety of conditions.”
 
People aren’t just getting older; they’re getting choosier too. Between now and the time the senior population hits critical mass, a world of opportunity for manufactures will open up. Keeping in mind the special things seniors are looking for in their products and packaging will help you win over the senior segment and ensures that by 2050 seniors are reaching for your products on the shelves.