THE SENIOR MARKET IS BOOMING,...DONT MISS THIS OPPORTUNITY....
For those retailers, looking for new opportunities, markets or concepts,....we like to talk you about one of the fastest increasing markets,...the senior consumer group. It has been proven (according to a study of the European Community, that each year, the senior market is increasing by 2 million people, achieving around 2060, a 30% of the total EU community).
We are in front of a huge potential group of consumers, with interesting big spending possibilities and time availability to buy or consume.
While most of retailers, try to focus their strategy on the young, fashionable, trendy and very technology oriented consumer, buying fast rotating cheap fashion items, there are tremendous opportunities to capture this older group, looking for quality, long life and mostly more expensive items.
As mentioned in previous posts, today, to be successful, you have to stand out, of the crowd, being different. Here you have the possibility....why not tackle the senior market and specialize your store into above segment...
As in all groups, there does not exist an homogenous group of senior consumers, but various age groups, from 55 to 95 years, divided by its cultural values, eduction, employment and social class situation.
Imagine you run a gym,..so why not organize special gym exercise classes for the above consumer group...
*Be patient, as above clients do prefer a personal service. So well trained staff and eventual some senior sales person, working in your store. (will create more empathy between consumer and staff)
*A clean and well organize shop and or product presentation.
*Easy access to the products in the store and clear, clean and easy to read price tags and product information.
*Older customers like to be greeted, when entering in your store,....try to feel them easy going and important.
*Older consumers DO know how to manage internet or the latest technology, (it has been proved that it is the fasted growing internet user group)...so be aware of it, when trying to contact them.
*There is general change and perception of viewing senior consumers as active important market,..so you marketing message should be optimistic, energetic and transmitting or creating active life expectations to themselves.
*Adjust your interior decoration and lighting. (ex. a to strong lighting can give wrong color perceptions)
*Well presented and clear product groups, presented on an easy to catch level.
As you can see, a lot of work to do,...
In order to transmit your message, make use of the existing local social senior clubs, associations and eventual state or government social, medical, funding and prevention programs,...creating your client base.
Have a look to enclosed presentation....with Dick Stroud, to learn a little more about a quiet complex market and what to know or consider before, when starting, to tackle above market.
For those, who have seen new opportunities, we like to recommend you, to read a very interesting book, called 'MARKETING TO THE AGEING CONSUMERS' from Dick Stroud and Kim Walker.
Have a look to this book and just ordered it.
You will learn a lot, how to make from this already existing fast increasing senior retail market a very successful business.
Have a look to this interesting explaining video.
So,..just tap into this Boomer Market......don't loose your time.