Older Consumer Insights

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행복한 나탈리 2024. 2. 22. 22:53

Seniors are now significant players in the economy and their role will get even bigger in the 2020s. Since older people tend to have both high incomes compared to younger cohorts (especially in OECD countries, thanks to old-age pensions) and high needs (if only on account of medical and specialized care), they are major consumers. Seniors are also growing rapidly in number: There are currently 750 million seniors in the world, and that figure will cross the 1 billion mark by 2030.
Seniors are the wealthiest age cohort in the world, together with older professionals (45-64 years). This shift toward wealthier older people is not because old people are inherently richer but because rich countries are older and poor countries are younger.

Still, because they are relatively richer and relatively older, Western economies will remain the top “silver economies” into the next decade.

And this year, it turns out that “fitness programs for older adults” is one of the top 20 worldwide fitness trends for 2023, according to a survey of more than 4,500 health and fitness professionals by the American College of Sports Medicine.
As a global trend, it has experienced fluctuations seemingly due to the pandemic as well as other external factors, including the fact that many baby boomers are retiring and adopting a lifestyle that focuses on fitness, according to ACSM. The trend was No. 9 globally in 2018, No. 4 for 2019, No. 8 in 2020, No. 9 again for 2021 and No. 11 in 2022.

4. Fitness Programs for Older Adults. This is a trend that emphasizes and caters to the fitness needs of the baby boomer and older generations. People are living longer, working longer, and desiring to remain healthy and physically active throughout their life span. This trend is making a return after being in the top 10 in 2007 (the #2 trend) and dropping to #11 for 2017. In 2018, fitness programs for older adults was the #9 trend, #4 for 2019, #8 for 2020, #9 for 2021, and #11 in 2022. The baby boomers (and older generations) in general have more discretionary money than their younger counterparts do, and fitness clubs may be able to capitalize on this growing market. Changing the atmosphere (including lights and type of music) of gyms to be more older generation friendly during the traditional slow times of the day is the type of trend that seems to be catching on in commercial clubs.

Interestingly, a total of 15 of the top 20 trends were shared among Europe and the United States. Despite these similarities, boutique fitness studios that mainly offer services based on functional training, small-group training, and Pilates training programs are popular in Europe, but not in the United States. Could these small-group, in-person services present a promising opportunity for fitness professionals in Europe to create and promote programming for 2023?
Online-oriented trends and digital services declined in both Europe and the United States for 2023, highlighting a potential impact of the COVID-19 pandemic on the status of the health and fitness industry. Does this point to promising opportunities for fitness professionals to develop engaging in-person programming and content for their customers in 2023?

Plan senior programming options during the slower, less-crowded club hours-depending on your club, this is typically the mid-morning to early afternoon hours, versus when the younger employed members are actively using the facility. Seniors usually have a more flexible schedule since many have left the workforce. Senior specific programming can fill those lull times, and offer personal trainers and group instructors an opportunity to fill their own schedules by focusing attention on this group.
Seniors may feel more comfortable and less self-conscious when the club is less busy and noisy. Make them feel welcome during these hours by adjusting the music to something a little less jarring and keeping exercise areas clear of abandoned dumbbells and other small equipment pieces that could become a fall hazard.
Group exercise formats tailored to seniors are also another option, with the added benefit of social interaction. Partner up to offer branded programs or develop your own unique blends of senior friendly classes