Increase Revenue? Create Universal Products!

There are many companies trying to position themselves to cash in with the ageing baby boomer population, which is unprecedented in world history.

Many companies have spent the last decade and a half focusing on healthcare, care giving aids, disease management tools, home ageing in place technology and universal design to allow a consumer to live with the product during old age.

However marketing of these products is very tricky.  Many seniors with advanced age do not want to be 'wired up'.  Many seniors may feel that they are a decade younger even when their bodies tell them otherwise.  Many seniors are turned off by ageing in place products that reminds them of things they cannot do or do not want to do.

An example is the construction of retirement villages.  Retirement Villages have been created by the developer/construction industry to cater for a perceived social need.  However whilst retirement villages are used by the veteran generation (whom generally follow what authorities tell them), I do not think that baby boomers will follow them into retirement villages.

Baby boomers will want to live and enjoy the communities that they currently live in.  They want to live close to friends and families and maintain the contacts that they have forged over decades.  They will not want to live in a retirement village that is normally on the outskirts of a metropolitan area (where land is cheaper for developers), far away from their loved ones.

The need for baby boomers will be to stay in their own homes that can be easily adapted for their accessible/mobility needs as they age.

The same holds true for other products.  Designers need to think more laterally to include universal design into product development to allow for better ergonomics and functionality for all users.  A product or suite of products that caters for the various ageing stages of an adult will obviously have a greater lifespan and enhance product loyalty of the end user.

Posted by David Goding

Posted by admin on Wed, 26 Mar 2014 11:03

 

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