Business Opportunities in the “New Old”
- Created on Friday, 23 August 2013 14:29
There is a new definition of what it means to be old; 70 is the new 50 and no-one thinks they’re old till 80. Actually my dad, who is 92, thinks he’s not old yet and businesses who agree with him get his business!
Our ageing provides business opportunities the likes of which we’ve never seen before. The “new old” are an older, intelligent, active, educated and engaged group of people, who will continue to forge trends and force industry changes just as Baby Boomers have already done throughout their lives.
From food products offering healthy ageing ingredients like Uncle Toby’s ‘Plus’ breakfast cereals, to e-readers such as Kindles and iPads, and video-calls such as Skype, there is a wealth of opportunity that is being driven by the sheer presence of so many people being still active at an older age.
Traditional “seniors” products and services such as cruises and age-defying face creams are developing and adapting to the changing demands of “the new old”. Cruise ships for example are offering more variety in activities and more on-shore stops. While cosmetics companies such as Olay are changing the way they represent themselves through launching new products to cater for different stages of ageing.
Even the ultimate kids realm, video games, have well and truly adapted their products for an older, more tech savvy market. Nintendo unashamedly directed the promotion of the DS system towards an older market, engaging Olivia Newton-John as Brand Ambassador and focussing on brain training games. Even retirement villages are changing to the “new old”. We’re constantly refining the housing we’re building, consulting with our current and future residents on how to improve their new homes. We’ve made them cheaper to run, easier to access, and with more outdoor space.
The “new old” is a new frontier of possibility and Warrigal Care is excited to be part of it. Talk to us about our new communities on 1800 626 670.