A new Nielsen study finds that US companies, including retailers, are missing the mark when it comes to meeting the needs of aging Americans.
The study found that companies completely miss the mark when it comes to engaging and catering to the needs of aging consumers, and this could spell the loss of a huge opportunity for retailers and manufacturers.
The study also found that there are generational differences in attitudes towards aging and their fears around getting older – younger consumers fear the loss of mobility and agility, while older consumers fear the loss of financial comfort and worry about how they will fund their retirement.
TOP TEN US HIGHLIGHTS:
- 38% of Americans say they don’t see advertising that reflects older consumers
- 44% say it’s difficult to find product labels that are easy to read
- 43% can’t find easy to open packaging
- 34% say they can’t find smaller portion sized food packaging
- 31% say products are not clearly labelled with nutritional information
- 25% can’t find products geared towards their special nutritional needs.
- Younger Americans fear losing their physical and mental agility vs older Americans fear having enough money to live comfortably.
- 60% of Americans don’t feel that they were financially set for retirement.
- 53% fear losing their self-reliance such as the ability to drive, cook, and shop
- 57% fear having enough money to live comfortably and an equal number fear losing their mental and physical agility
Todd Hale, SVP of Consumer & Shopper Insights, led the study.
“The findings serve as a wake-up call to manufacturers, retailers and other marketers that need to bolster efforts to better reach and cater to an aging demographic. Improvements such as using larger fonts on product labels and signage, arranging age-related products in one place and at arm’s length for easier accessibility, and offering friendly customer service can go a long way in building loyal patronage,” Hale says.
