Older Shoppers Are the Hot New Thing for Consumer Brands
Summary: Older Shoppers Are the Hot New Thing for Consumer Brands
The article is about the strategy that some businesses are taking to ensure that they remain profitable following the negative impacts of the COVID-19 pandemic. Demographic changes and the pandemic have forced consumer goods companies to focus on the older people, a group of shoppers that are usually ignored. The article asserts that people are now living longer and having fewer babies, and the number of people above the age of 65 has increased significantly. The pandemic has disproportionately affected the older people in the society and has highlighted the significance of staying healthy. Consequently, companies such as Colgate-Palmolive Co., Nestle SA, and Danone SA have decided to launch new products targeting this older population who intend to age healthily. Healthy aging is the new trend that is taking shape globally, and these companies are taking advantage of this new and increasing group of shoppers to bolster their sales. These companies are now concreating on consumer goods production, mainly targeting this population. Danone has set up a new health aging unit to accelerate research into how nutrition affects cognition and mobility. They have launched products such as Brazil Fortifit Pro, a product claimed to help muscle, joints, bones, and other products help people age better. Nestle has launched a milk powder in China targeting older people to improve mobility during aging. These companies move from manufacturing foods to help people in hospitals recover to prevent people from being hospitalized (Chaudhuri, 2021).
Manufacturing of consumer-products targeting older people is a business strategy to enable these people to manage their health as they age. The strategy aims to ensure that businesses increase their profitability with the current demographic trends of increasing older people and reduced fertility. It is a well-thought-out strategy that targets maintaining good health as opposed to restoring it. The strategy is bound to be worthwhile as it will ensure profitability, growth, and sustainability due to the increasing population of older people.
Chaudhuri, S. (2021, January 30). Older Shoppers Are the Hot New Thing for Consumer Brands. Retrieved from https://www.wsj.com/articles/older-shoppers-are-the-hot-new-thing-for-consumer-brands-11612002644?mod=business_lead_pos1