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.