Age Friendly Business

Age Friendly Business

 

 What is Age Friendly Business

Age-Friendly Business is an approach to doing business that recognises and addresses the market opportunity afforded by a society where more people are living healthier for longer.

 

Facts about older People in relation to the Economy and why a Business should have an Age Friendly Approach

 

  • Older people own 75% of the wealth in the EU and account for 50% of consumer spending.
  • Older customers (65+) in Ireland have a revenue declared annual income of over €6.5 billion.
  • Older consumers will double in number in the next 30 years, and those over 80 will quadruple.
  • Older people are loyal customers and outspend younger shoppers.
  • Older customers not only spend locally and have a lot of purchasing power, but also have the time to shop.
  • 50% of all toys are bought by grandparents.
  • Over 50’s take on average almost three trips a year in Ireland, staying three nights away.
  • Favourite brands are Guinness, Aldi, Apple, Dunnes Stores and Toyota

 

Ideas to make your business age friendly

Examples of low-cost and no cost ways you can make your business age-friendly and attract this powerful and growing segment of the population

 

  • Offer products and/or services that are appropriate for older adults, e.g. single portions. Make discounts or special offers available for older adults when possible.
  • Offer assistance with shopping, and or drop off/delivery services.
  • Provide respectful human contact, in person and on the phone.
  • Place products on shelves which are reachable or readily offer assistance to reach items.
  • Use large, clear fonts for signage, printed materials, and websites.
  • Moderate excessively loud music and noise.
  • Speak clearly in low tones and repeat yourself if necessary.

 

 

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