LIVING WELL
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ViMt.gis
Seniors have tremendous resources, and demand more for their money.
NORINE ZIMMER
Special to The Jewish News
ho earns more than half
the country's disposable
income, owns 77 per-
cent of the assets and
represents a virtually untapped $150
billion market? Those over 50!
The fastest growing and most
diverse segment of our society, and
the least understood, are today's
seniors. They are like no others
before them. They're healthier,
wealthier, and have greater mobility.
12/25
.
In fact, today's seniors are pursuing a
more active lifestyle and making
aging quite stylish in the process.
Not only is this consumer group
dynamic and diverse, but its needs
and wants are enormous. Members
are willing to spend for goods and
services that benefit them or their
families. And they represent a myriad
of intergenerational opportunities for
business.
A good example is the link
between mature adults and their
grandchildren. Research shows that
when they aren't seeing their grand-
children and doing things with them,
grandparents are often doing things
for them.
Relying on stereotypes to reach the
mature consumer hinders a business'
efforts. Actually, the younger genera-
tion is the one most likely to form
impressions based on limited contact
with the older population.
"It's hard for 18-year-old waitper-
sons to put themselves in a 70-year-
old guest's place. They're dealing with
someone from another generation
with whom they may have little day-
to-day contact," says Matt Prentice,
owner of the Unique Restaurant
Corporation.
Gone are the days of the slam-
dunk sale. Today's mature market is
special. Its members are more
demanding and savvy, and products
often can be more complicated.
Those over 50 grew up in an era
when service was personalized and
white-gloved. Astute businesses realize
that when the older customer goes
shopping, he or she is buying a per-
sonal experience rather than a techni-
cal service.
Mature customers are drawn to a