The senior market is booming as the baby boomer generation (age 51 to 69) continues to enter retirement. Think of them as consumers with time and money on their hands. According to Gallup Daily, the senior cohort spent an average of $105 per day on purchases at stores, restaurants, gas stations, online, etc. last year.
How do you help clients reach seniors? Here are five markets and product ideas from the experts at Lion Circle (asi/67620).
1. Home services. Many seniors still head a household and must maintain their own property. Companies such as landscapers, roofers, appliance repair people, electricians, maids, etc., simply need to reach out. Calendars are an ef-fective way to remind homeowners of seasonal maintenance programs, and plastic wallet cards keep important contacts at hand.
2. Financial and insurance companies, from banks to brokers, must maintain a relationship of trust with their older customers. A significant number of seniors are just entering and planning for retirement. Products that inspire or show car-ing build a bond.
3. Health care isn’t just about caring for those with failing health. Today seniors engage in wellness programs, go to the gym, walk/run in mara-thons and so forth. Help businesses that provide personal training, medical services, rehabilitation and, when the time is right, independent living services by recommending a useful promotional item such as a magnetic memo board or a gift that sharpens the mind such as an adult coloring book.
4. Travel/hospitality providers – including travel agents, tour guides, resorts, hotels and transportation – have eager customers in the senior set. An ideal gift for travelers is an RFID blocker. RFID (Radio Frequency Identification) chips are now placed in U.S. passports, credit and debit cards, drivers’ licenses and other forms of identification. Protect a senior traveler’s identity from unwanted card reader scanners with Lion Circle’s foil-lined sleeves, printed in full color, perfect for branding with a custom message.
5. High-tech products, from cable to internet to mobile devices, are relevant. When it comes to tech products, such as a USB drive, 37% of those age 55+ have them and consider them useful. Offer tech-related promotions. For example, send a message with a cellphone holder.
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