We know that healthy aging is important. Harvard Health reports that more seniors are opting to age in place rather than pursue other options. They recommend a checklist of potential health-related issues that should be considered for successful healthy aging. These include strength, flexibility, sharp thinking skills, and endurance among others.
Right now, only 15 countries have more than 20% of their population at an age of 65 or above. That number of countries is expected to grow to 44 by 2030 and to 61 by 2050. For the first time globally in 2018, the number of people over 65 has surpassed those under 5 and that number has only grown since.
The growing numbers of aging adults has prompted AARP to partner with the University of Michigan to create the National Poll on Healthy Aging (NPHA). The goal of the survey is to tap into perspectives of older adults and their caregivers to help inform the public, health care providers, and policymakers on issues related to healthy aging.
With the onset of COVID-19, NPHA has focused many of their surveys around the risks for older adults. Shifts to telehealth visits and patient portals showed lack of medical information access at a time when it is needed most.
The healthy aging trend has not been lost on Madison Avenue and other leading marketers throughout the globe. As a result, many brands are viewing seniors as a prized demographic. They are expanding their product offerings along with their marketing budgets to reach the over-65 consumer. And even a few brands that target a much younger audience are developing new product lines with healthy aging in mind.
For instance, a company which makes infant formula has now launched a product in China that it says contains ingredients to boost the immune system in aging consumers. Another company introduced a powdered milk drink targeting older adults which it says enhances mobility during aging.
Swedish furnishing retailer IKEA has expanded its product line to include upright armchairs with higher seating to make it a little easier for aging adults to rise out of their chairs. Proctor & Gamble Co. has started selling razors that they envision for caregivers in Canada, where company data shows one in four people helps someone with aging-related needs.
Not surprisingly, this product expansion has extended to skin and beauty products and the trend is expected to continue longer-term. It’s too early to tell the outcome of marketer focus on mature consumers. For now, we can probably just be thankful that executives want us to stay healthy later in life.