2022
9
US Senior Lifestyles Consumer Report 2022
2022-08-26T04:05:07+01:00
REP843AE978_18CE_4DA9_9EB3_1C5EDC9A33EC
3695
155111
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Report
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“Understanding seniors’ priorities is key to connecting with this cohort of consumers. Results show that their top priorities include health, family, and independence. Knowing this, brands can confidently provide products…
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  4. US Senior Lifestyles Consumer Report 2022

US Senior Lifestyles Consumer Report 2022

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“Understanding seniors’ priorities is key to connecting with this cohort of consumers. Results show that their top priorities include health, family, and independence. Knowing this, brands can confidently provide products and services that address these desires. For many brands, digital solutions may come to mind. While there is a stereotype that seniors are not comfortable with technology, data is showing otherwise. As long as brands make the effort to teach seniors how to operate their products, they will find that seniors can make the necessary adjustments. Crucially, brands must also accurately represent seniors in their advertising if they want to resonate with this cohort. As adults 65 and older are the fastest growing age group in the US, it is increasingly important that this population not be ignored in any respect.”

– Klaudia Kondakciu, Consumers and Cultures Analyst

Key issues covered in this Report

  • Senior outlook and perceived sense of control over their personal futures
  • Most important factors to preserving quality of life
  • Shifts in seniors’ general and self-care-related priorities since the COVID-19 pandemic
  • Shopping preferences of seniors, including online vs in-store and legacy brands vs newer brands
  • Plans and preparations for their final years
Collapse All
  1. Overview

    • What you need to know
    • Key issues covered in this Report
    • Definitions
    • Market context:
    • Economic and other assumptions
  2. Executive Summary

    • Top takeaways 
    • Market overview 
    • Opportunities
    • Living in the moment: embracing everyday joys will resonate with this content cohort
      • Figure 1: Attitudes toward their future and desire for control over life circumstances (any agree), seniors vs overall, 2022
    • Focus on health and family when connecting with seniors
      • Figure 2: Activities believed by seniors to have the most impact on maintaining current quality of life, 2022
    • Help seniors maintain their independence
      • Figure 3: Senior plans for future living arrangements, 2022
    • Challenges
    • More representation is needed
      • Figure 4: Traits that would make seniors feel better represented in advertising, 2022
    • In-person shopping is preferred, but an omnichannel approach can provide meaningful benefits
      • Figure 5: In-store vs online shopping preferences, seniors vs overall, 2022
    • Key consumer insights
    • Health has become even more important since the onset of the pandemic
    • Legacy brands shine amongst seniors
    • Seniors are thinking about their final plans; brands can help them prepare
  3. Senior Demographics

    • Seniors are a large and growing demographic
      • Figure 6: Population aged 18 and over percentage by age, 2016-26
      • Figure 7: Population change by age, 2016-26
    • More seniors are expected to stay in the workforce
      • Figure 8: Projected labor force participation rate, by age, 2000-30
  4. Market Factors and Current Opportunities

    • Consumer confidence continues to plummet
      • Figure 9: Consumer Sentiment Index, 2007-22
    • Inflation disproportionately impacts seniors
      • Figure 10: Perceived financial health, by age group, 2022
      • Figure 11: Perceived change in financial health, by age group, 2022
    • Lean into value to help seniors save without compromise
      • Figure 12: Save A Lot Instagram posts, 2022
    • Retirement is becoming more expensive
    • Brands in all sectors can help seniors save
      • Figure 13: Fitbit Instagram post, 2021
  5. Senior Lifestyles: Fast Facts

  6. Senior Outlook

    • Seniors are content; brands can help retain their positivity
      • Figure 14: Attitudes toward their future and desire for control over life circumstances (any agree), seniors vs overall, 2022
    • Gamification can preserve positivity
      • Figure 15: Pikmin Bloom Instagram posts, 2022
    • Seniors are positive, brands should show them as such
      • Figure 16: “I’m okay with the idea of getting older” (any agree), seniors vs overall, 2022
      • Figure 17: Traits that would make seniors feel better represented in advertising, 2022
      • Figure 18: Sports Illustrated Swimsuit Instagram post, 2022
  7. Maintaining Their Current Quality of Life

    • Health and family are essential
      • Figure 19: Activities believed by seniors to have the most impact on maintaining current quality of life, 2022
      • Figure 20: DocMorris Weihnachtsfilm, 2020
      • Figure 21: DocMorris YouTube Post, 2020
    • Remind seniors that maintaining physical health is fundamental to maintaining independence
    • Tap into tech to keep seniors healthy and connected
      • Figure 22: Peloton Instagram post, 2022
    • Ensure senior women maintain their independence
      • Figure 23: Papa Instagram post, 2022
    • Encourage married seniors to take romantic retreats
      • Figure 24: Activities believed by seniors to have the most impact on maintaining current quality of life – Traveling, married vs not married seniors, 2022
      • Figure 25: Bonnie & Clyde | Made possible by Hosts | Airbnb, 2022
      • Figure 26: Airbnb YouTube Post, 2022
    • Romantic retreats don’t have to be far from home
  8. Priority Changes since the COVID-19 Pandemic

    • The pandemic has made physical health more important than ever
      • Figure 27: Senior priority changes since the COVID-19 pandemic, 2022
    • Food and drink brands can help seniors maintain their physical health
      • Figure 28: Yogurt drink with immunity claim, 2022
    • Brands in the fitness space can gain by including seniors
      • Figure 29: Abbott Global Instagram post, 2022
      • Figure 30: Joan Benoit Samuelson Instagram post, 2022
    • Stigma around mental health still exists for senior men
      • Figure 31: Prioritizing “taking care of my mental health” more since the COVID-19 pandemic, senior men vs senior women, 2022
      • Figure 32: BetterHelp Instagram post, 2021/2022
    • Changes in the prioritization of self-care since the pandemic
      • Figure 33: Changes in senior self-care priorities since before the COVID-19 pandemic, 2022
      • Figure 34: Vosges Haut Chocolat Instagram post, 2022/21
    • Inspire senior women to spend their extra time on themselves
      • Figure 35: Changes in senior self-care priorities since before the COVID-19 pandemic by gender, 2022
      • Figure 36: Dove Instagram post, 2022
    • Self-care for senior women shouldn’t break the bank
  9. Shopping Preferences

    • Seniors prefer to shop in person, but practical tech can still appeal
      • Figure 37: In-store vs online shopping preferences, seniors vs overall, 2022
    • In-person shopping can turn into an online activity
    • Legacy brands can resonate further by tapping into nostalgia
      • Figure 38: Preferences for older, bigger brands vs newer, smaller brands, seniors vs overall, 2022
      • Figure 39: Burger King Instagram post, 2021
      • Figure 40: Pepsi Instagram post, 2021
    • Encourage seniors to build bonding moments
      • Figure 41: Swiss Chalet Festive Special 2021
    • Seniors prefer to spend discretionary funds on dining out
      • Figure 42: Spending spree categories, seniors vs overall, 2022
      • Figure 43: Headspace Instagram post, 2021
      • Figure 44: Happy Meal Senior, 2020
  10. Future Arrangements

    • Plans for future living arrangements
      • Figure 45: Plans for future living arrangements, 2022
    • Over half of seniors plan to remain in their own homes
      • Figure 46: CVS Pharmacy Instagram post, 2022
    • Caregivers also need to be cared for
      • Figure 47: Plans for future living arrangements by gender, 2022
    • Opportunities are strong for brands to help seniors make their final plans
      • Figure 48: Senior’s final plans for the future by age, 2022
    • Tackling a traditionally taboo topic
      • Figure 49: Sparrow Funerals Instagram Posts, 2022
  11. Future Opportunities and Strategies

    • Meeting the needs of Seniors through the lens of the Rights Trend Driver
    • Prepare to be held accountable
      • Figure 50: Ilia Beauty Instagram post, 2022
    • Meeting the needs of Seniors through the lens of the Wellbeing Trend Driver
    • Wellness will remain at the forefront
      • Figure 51: Hanu Fit Instagram post, 2021
    • Meeting the needs of seniors through the lens of the Technology Trend Driver
    • Embrace technology to help enhance wellness
      • Figure 52: Sleep Number Instagram post, 2022
  12. Appendix – Data Sources and Abbreviations

    • Data sources
    • Consumer survey data
    • Consumer qualitative research
    • Abbreviations and terms

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