Engaging the 50+ Market: A formula for success
The 50 and over population will continue to grow over the next several decades. Being able to capture and retain their attention and business requires being sensitive to their top healthcare concerns; chronic health conditions, cognitive, mental and physical health. Formulating effective products includes combining clinically validated ingredients in therapeutic doses which address the underlying causes of a health challenge. Once these ingredients are chosen, using an innovative delivery method is paramount.
With pill fatigue growing, there is a growing need to use a delivery method which fits into the everyday lifestyle of the consumer.
Just like modern medicines which need to be taken with daily compliance, dietary supplements and functional foods should be also. The use of unique delivery methods such as liquids, gummies, powders, etc. will decrease pill fatigue and increase compliance. Increased compliance will yield better consumer outcomes which should yield better health and loyalty to the product.
ENGAGING THE 50+ MARKET: A FORMULA FOR SUCCESS
Healthy aging is a significant concern for all, regardless of age. In the U.S., there are currently over 108+ million people over the age of 50 and is expected to grow by another 19 million over the next decade (1). According to the latest estimates, by 2050 there will be 2 billion people aged over 60 (22% of the world population) (2). The 50 and over age bracket is the primary demographic that experiences the health declines that come with age. The body, like an automobile as it ages, some parts begin to wear down and fail. By keeping the body well-maintained over the years, there will be less chance of developing health problems.
The top health concerns of the aging population are (3):
Chronic Health Conditions- Approximately 80% of older adults have at least one chronic disease, and 77% have at least two. Four chronic diseases—heart disease, cancer, stroke, and diabetes—cause almost tw ...