Age Friendly Business

 What is Age Friendly Business

Age-Friendly Business is an approach to doing business that recognises and addresses the market opportunity afforded by a society where more people are living healthier for longer.

Facts about older People in relation to the Economy and why a Business should have an Age Friendly Approach

• Older people own 75% of the wealth in the EU and account for 50% of consumer spending.
• Older customers (65+) in Ireland have a revenue declared annual income of over €6.5 billion.
• Older consumers will double in number in the next 30 years, and those over 80 will quadruple.
• Older people are loyal customers and outspend younger shoppers.
• Older customers not only spend locally and have a lot of purchasing power, but also have the time to shop.
• 50% of all toys are bought by grandparents.
• Over 50’s take on average almost three trips a year in Ireland, staying three nights away.
• Favourite brands are Guinness, Aldi, Apple, Dunnes Stores and Toyota

Ideas to make your business age friendly

Examples of low-cost and no cost ways you can make your business age-friendly and attract this powerful and growing segment of the population

• Offer products and/or services that are appropriate for older adults, e.g. single portions. Make discounts or special offers available for older adults when possible.
• Offer assistance with shopping, and or drop off/delivery services.
• Provide respectful human contact, in person and on the phone.
• Place products on shelves which are reachable or readily offer assistance to reach items.
• Use large, clear fonts for signage, printed materials, and websites.
• Moderate excessively loud music and noise.
• Speak clearly in low tones and repeat yourself if necessary.