Must Read | pics five/ d3verr/ Nadiinko/ Skylines / Shutterstock.com Seize The Golden Opportunities In The Silver Segment From practical gifts that enhance daily living to savvy solutions that promote wellbeing, promotional possibilities abound in the senior market. By Audrey Sellers THE POPULATION OF OLDER ADULTS is booming. Pew Research projects the 65-andolder crowd will soar to 84 million over the next 30 years, comprising roughly 23% of the U.S. population. More people are also blowing out 100 candles on their birthday cake. The number of centenarians is set to skyrocket, more than quadrupling by 2054. With aging comes the need for varying levels of care and support, from help with daily tasks to specialized therapy to memory care. The senior living industry, which encompasses a wide range of facilities and services tailored to these needs, is a major contributor to the economy, generating more than $94 billion last year. While the majority of older adults live in their own homes (88%), research shows that most (about 70%) will need some form of assistance during retirement. They might require transportation to medical appointments, help with housekeeping or specialized care at home. This age group may also seek professional assistance for tasks like estate planning or navigating social security benefits. When it comes to finances, nearly half of older adults say their biggest fear is not having enough money saved for retirement. With promotional products, companies that provide vital services for seniors – like home modifications or financial guidance – can show up in meaningful ways. Customized items like tablet stands or pill organizers come in handy every day and reinforce brand presence. Promo like slip-resistant slippers or aesthetically pleasing coffee mugs can elevate daily living and keep a brand’s name top of mind. When it comes to forging connections with older adults, it’s all about providing practical, thoughtful promos. Read on to learn more about today’s senior landscape and how brands can use promo to show they understand older adults’ needs and interests. 86 • SEPTEMBER 2024 • PPAI
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