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5 ways to ensure the store appeals to high-powered senior shoppers

Geoff Gross, founder and CEO of Medical Guardian, offers insight on how senior-focused shifts by top national retailers illustrate the importance of this demographic.

Photo by iStock.com

July 2, 2019

By Geoff Gross, founder and CEO, Medical Guardian

With 10,000 Baby Boomers turning 65 every day, this aging population presents an extraordinarily lucrative opportunity for retailers.

Nearly 90% of Boomers wish to remain in their own homes, and they actively seek products and services that can help them age gracefully. And in the next 20 years, spending by people older than 50 is projected to increase by 58%.

Even though people older than 50 are becoming the largest population segment in the U.S., most retailers focus the customer experience on younger shoppers. The average young consumer is busy with work and family obligations — he or she wants to be able to get in, grab any desired products, and get out of stores as quickly as possible.

But that’s not what older shoppers want. Seniors and retired older adults typically have fewer opportunities for social interaction, which makes shopping an enjoyable experience that they savor — in a study by A.T. Kearney, two-thirds of respondents between the ages of 70 and 80 said they shop at least twice a week.

Some retailers have gotten the experience right when it comes to senior shoppers. Best Buy, for example, created a full category initiative that's focused solely on providing products that can help seniors age in place. Other big-box retailers have followed suit, adopting complementary categories and curating a similar set of product offerings. These senior-focused shifts by some of our nation's biggest retailers show the importance of this demographic and highlight the purchasing power of older shoppers.

How to appeal to senior shoppers

Retailers that don't go out of their way to make customer experiences senior-friendly will be leaving money on the table. To optimize the retail experience for seniors, take the following steps:

1. Be a friendly face.
Remember that shopping is a social experience for seniors. That's a problem for retailers because seniors feel stores are understaffed and undertrained to meet their needs, according to the aforementioned A.T. Kearney study. To fix this missed opportunity, retailers must create a better shopping environment that will attract and support seniors.

Make sure well-trained team members staff your store and are able to answer in-depth questions about each product's key features, functionality, and use cases. Empathy and friendliness go a long way toward creating an enjoyable social experience for seniors.

2. Don't talk down.
Retails need to pay special attention to make product advertisements that are relatable to seniors. Don’t portray seniors in a negative or helpless light — instead, demonstrate how a product can help seniors remain independent and enhance their wellness.

Most seniors understand what a product does, so they want to see ads that explain how it will make their lives easier. In doing so, you’ll create a better, more useful connection between shoppers and your products.

3. Focus on quality and branding.
Seniors — even low-income seniors — are typically more willing to pay higher prices for premium products. They might buy fewer items, but they tend to be extremely loyal to the brands that they trust. Opt for products and items with quality and longevity in mind, which will help you win favor with this demographic. To forge a stronger connection, make sure your staff members know how different products might appeal to seniors based on values such as quality and brand loyalty.

4. Go easy on the eyes.
Seniors often find price displays, store directions, and other signage difficult to read. And the older that seniors are, the harder it is for them to read labels — even when wearing glasses.

It's not always possible to control product packages and labels, but retailers can control the appearance and readability of in-store displays and signage. By using larger, easy-to-read fonts and clear imagery, retailers can ensure that senior shoppers will be less likely to need help understanding the “fine print.” Use fonts and colors that contrast, and ensure that all content is clear, direct, concise, and accessible.

5. Prioritize comfort.
Make sure there are plenty of places for older shoppers to sit — comfortably and out of the way of other shoppers — so they can prolong their shopping experiences. According to the same A.T. Kearny study I mentioned earlier, 63% of seniors younger than 70 and 75% of seniors older than 70 said they want to have an option to sit down in stores. Honestly, who can blame them? Comfy seating in stores is something that can benefit everyone — not just older shoppers.

Stores have an incredible opportunity to create a retail experience that makes happy, healthy, and safe aging a societal norm. By creating an environment that welcomes seniors, retailers can tap into a growing market and capture the hearts of a loyal demographic.