As countries become more matured, there will be more senior citizen in the country. Many countries are growing old, like Japan and Singapore. Even in China such a large country, as of 2017 it was reported that there are 222 million people over age 60.
This is a huge issue many local government want to solve and look into that. For businesses, this market segment poise great opportunities for them to tap on and increase their revenues. You may wonder, what products for seniors you wish to sell and offer them?
In Singapore, the situation is no better than other countries. According to government study, the number of senior citizens over the age of 65 will become 900,000 by 2030. This will change how the society function, and the kind of products needed by this group of people will be vastly different.
Source: Singapore Management University/Tata Consultancy Services: Technologies for Ageing-in-Places: The Singapore Context, March 2016 (SMU-TCS iCityLab)
This article will help you to get some ideas for your product strategies if you are a businessman. For senior citizen, you may consider to get these products for your own usage as they are widely used by others.
|1||Products For Caring The Seniors|
|2||Products Providing Content For The Seniors|
|3||Products Help To Clean The Home|
|4||Products Help To Improve Memory|
|5||Products Offering Companion|
Products For Caring The Seniors
As people grow old, they will need assistance in their daily life. Services like old folk home for the senior are coming up across in many countries like Singapore, Japan, China, etc.
For countries with huge population of seniors, this may change their economy from exports to consumption. Seniors likely not able to continue working and they tend to consume more health care related products and services.
There are niche travel agency targeting seniors as their main customers because their needs and wants are different from the younger generation. Usually this group of senior customers tend to travel with spouse, and during off-season. These are the factors you may want to consider in your promotion program.
Some companies are developing “smart care” products which connect to the internet to track the health of senior at home. Data Analytics companies are also providing services to help companies collecting data of this huge population on their consumption patterns and behaviours, and anticipating their needs for company product strategies.
One company that already tap into this huge market is Nestle. They have launched senior milk powder, targeting the senior and promoting the product as new dieting product to cure health related issues.
For housing, government is encouraging private sector to incorporate automation in providing home care services. For example, using a network of Internet-dispatched delivery services to provide food for the elderly at the nursing home.
Below are some related products you can consider for the senior citizens:
Blood Pressure Monitor
This device will allow you to check your senior at home for any symptom of high blood pressue. Being the silent killer, it may risk old people with heart disease, stroke and heart failure. The BP monitor will alert you to take precaution early and seek professional treatment before the condition get worst.
When the systolic value > 140 mmHg, or the diastolic value > 90 mmHg, or if both are higher than these readings, the person is considered to have high blood pressure. The measurement is in units of millimeters of mercury (mmHg). When reading is extremely high, the person will feel dizziness or has trouble seeing.
Bed Assist Bar
Getting in and out of our bed become harder when we get old due to back issue. With this Bed Assisting tool, life become so much easier.
The Bed Assist Bar provide stability for senior to get up and down from bed. It prevents fall when the arms do not have enough strengths to hold the body, resulting in a fall. It gives you the support to move around the bed.
Medical Alert System
More seniors are living alone at their own home and it is vulnerable to have accident without nobody aware. With technology we can help to monitor any unforseen event happen, and alert you to take action immediately. The communication can be done by voice through the pendant and the review for this product is excellent for most of the buyers.
This alarm allow senior staying alone to seek help in times of need. The one-touch button allows the senior to contact directly with the local 911 operator. No monthly fee is required and no subscription fee to pay.
Products Providing Content For The Seniors
Many of the seniors are highly educated and well exposed to the modern world. Their consumption habits are very different from the past generation. They may want to continue their enjoyment when they grow old.
It is a great opportunity for companies that able to provide useful and entertaining content, delivering to the seniors at home or where they are. Online entertainiment is a huge potential market to target the seniors.
Subcription services are becoming popular in recent years, with low rates offering by many companies. People are more willing to subscribe to its services. Nowaday, many consumers are watching their favorite movies on their phone. The consumption habits of this generation has changed. They do not seek out pirated versions anymore.
Here are variours products and services offering useful contents to the seniors you can consider:
DVD Weight Loss Exercise for seniors
Many senior citizens prefer to watch their favourite movie or programme on their DVD player. Some of them has the hobby to keep their collection at home, and will continue to scout for their favourite DVD on ebay or other marketplace.
With more people attending fitness class to keep fit, there are group of elderly prefer to watch the fitness programme at home on the DVD. Amazon has thus introduced a wide range of DVD weight loss exercise for them to choose from.
Amazon Prime Video
Love watching a movie at home without going out to the theatre? Just click below link and sign up for Amazon Prime Video to enjoy all the subscription services from HBO, Showtime, Starz and more.
Amazon is one of the fast growing companies in the world, with its financial muscle and vast network of business partners, Amazon is eying the cake of the Video on Demand on the internet. You can expect to see more attractive pricing and good content offering at Amazon Prime Video channel.
Book on iPhone for Seniors
There are books available on Amazon which target on senior citizen, teaching them how to use modern devices like iPhone or Mac Computer. These are niche market which you can consider to explore.
With US and China trade relationship getting no way, demand for China brand like Huawei mobile phone will face some challenges to sell in USA and European countries. We expect iPhone will continue to spread its popularity in these countries. You may target iPhone user for the senior citizen and teach them all the advance features they can get out of the mobile phone.
Amazon Echo Dot
With voice-activated feature, this device offer great help to adult seniors who have movement difficulites. Just use your voice to activate the news or programme you would like to listen, and the content will be playing straight from the Amazon Echo Dot.
The convenience of using voice to command the Amazon Echo Dot devices to perform various tasks have created many wonderful services on the device. Here are some of the tasks you can ask the device to do:
- ordering food/product online
- making phone call
- activate all the smart devices at home
- get cooking recipes
- listening to the news
- attend online learning lessons
- get fit with Yoga instructor online
Products Help To Clean The Home
When you are old, your energy become weaker and it is better not to bend too often. Household cleaning jobs can be very tiring and this is where robot come in to help us. Robots are being deployed in many industries and recently we have seen it coming into our household.
The decline in mobility may make it harder for senior to do house work. By using technology we can solve some of the problems.
Products Help To Improve Memory
As our body grow old, most of the organs start to deteriorate and their functions begins to decline. The physiological changes that come with age will affect our brain functions. We will take longer to learn and recall things, and these changes are normal for most of the senior citizen.
Scientists agree that our brain is capable of producing new brain cells at any age. Therefore, do not be alarm when you takes longer time to do certain things. Take it easy, relax your mind and your memory and brain function will come back in times.
There are many books available on Amazon which you can pick up and read all the techniques to improve your memory.
Products Offering Companion
It can be lonely at times when you are staying by yourself. With this companion pet, life become better with someone to communicate or talk with. It can help to reduce stress among the elderly, especially when they are being left alone.
There are so many products you can offer to this group of seniors. As they grow old, senior citizen demand different kind of products and services to suit their life style. You can research on the internet and find the one which you are passionate about and work out a plan.
Design your marketing program in unique way and provide real value to them. Think about those people around you who are also senior citizens, what they need and want in their daily life and you will be surprise there are so many business ideas you can come up with.
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