Here’s a resource guide with the five reasons you should start an online business catering to seniors, statistics to help you better understand the senior market and tips on how to get started!
The senior market is booming, and business opportunities are plentiful. The senior age group is now, for the first time, the largest in terms of size and percent of the population in the U.S. That is why you should consider selling products online to tap into this growing market. To better understand seniors and to market to them successfully, you must first do your research!
1. Growing by Leaps & Bounds
Here are some statistics to get you started to show you this is a growing target market and only will grow as society’s lifespan increases.
- By 2030, the 65-plus population will double to about 71.5 million, and by 2050 will grow to 86.7 million people (U.S. Census).
- 88.5 million projected population of people 65 and older in 2050. People in this age group would comprise 20 percent of the total population at that time. Source: Population projections
- 89% of seniors 65+ have personal email and use it regularly (Nielsen)
- 75% of those age 65+ reports being a grandparent (Census Bureau)
2. Seniors are savvy!
In a recent article by Pew Research, “Older Adults and Technology Use” they reported, “Today, 59% of seniors report they go online. This is a six-percentage point increase since last year. Seniors also see the benefits of going mobile as it is reported 77% of them have a cell phone. This is up from 69% in April 2012.” This data shows that seniors are not staying neutral to the changes in technology. They are adapting to the conveniences they have by going on line and having quick access to products that improve their lifestyle. If you want to reach the senior market in a cost effective and convenient manner, you should consider starting an internet business geared towards seniors.
3. Numerous Products Catering to Seniors’ Needs
When starting any type of business you must decide on the right type of products to fit the needs of your consumer. When it comes to the senior demographic Maria Henke, the SC Assistant Dean of Gerontology, says you must “offer a product or service of value that meets an unmet need, put together a business plan, etc. When targeting older persons it’s especially important to consider the functionality and safety of the product and how well that matches up with their needs.”
Seniors tend to concentrate on their health, their family and their pets. This is why an online health and medical business, online pet business or senior care online business are great options when considering starting an internet business featuring products seniors want and need. When you select one of these types of website business opportunities it allows you to market your products to not only seniors, but other consumers who can utilize these products as well.
4. Simple + Informative Marketing Efforts = Happy Customers
Do not waste your time on fluff when it comes to marketing to seniors. They want to get to down to what the product or service you are offering is all about, how they use it and most importantly how it will benefit them. In order to think of how to target them properly, you must focus in on their demographic. Many of the seniors spent their lives around the radio listening to marketing jingles or have seen every type of advertising campaign in the book. You will not market a product to a sixty-five year old the same as you would a twenty-five year old – they have different needs, wants and relate to different aspects of life. In your marketing efforts you will want to keep it simple, keep it informative and really drive home “why” they need to shop your online senior care business. When marketing to seniors remember they ARE savvy – they have email addresses, they are on their mobile devices and they do use social media to stay adept on the world!
5. Going Online is Easy & Convenient
Many seniors no longer have the ability to go to brick and mortar stores to find the products they need. Therefore, going online to shop is a quick, easy and convenient method for them! By being able to “jump” online at anytime they can shop around to find life’s essentials. When owning an online business catering to seniors, you will want to have a user-friendly, easy to navigate store that appeals to any senior. You will also want to ensure your categories, descriptions and products “speak” to their needs and everything is easily understandable.
Why the Senior Market is Right For You
Finding your target market is one of the key elements to starting an internet business. Once you can hone in on your target you are able to develop an online store with featured products to market them effectively. The senior target market offers you the opportunity offer a vast variety of consumables. When working with seniors it is important to focus on the products they need while providing them a pleasant shopping experience.
How to Get Started
If you are new to ecommerce and want to learn how you can tap into the senior market through a health and medical business, online pet business or senior care online business then Pure-Ecommerce would like to help you get started. Take the first step and visit our collection of internet businesses for sale at www.Pure-Ecommerce.com. We will be happy to share with you the best internet business ideas to start geared towards seniors.