Companies like Gillette are off to a fast start in marketing to seniors. But it’s not too late to catch up!
Companies and big brands aren’t just putting a big toe in the water with products and marketing aimed at seniors—they’re diving head first into the deep end. With the senior demographic segment expected to reach over 100 million in the next 20 years with their spending reaching $4.74 trillion (AARP), smart and innovative companies simply couldn’t sit on the sidelines any longer. That’s why Best Buy spent $800M for Great Call and its Jitterbug phones and personal emergency response products, why CVS is now offering video healthcare and Minute Clinics with seniors in mind, and why Amazon spent nearly $1 billion for the purchase of Pill Pack and its pre-packed medicine dosages.
Not to be left out, the Washington Post is reporting that Proctor & Gamble’s Gillette division is ahead of the curve with new products aimed specifically to seniors.
Gillette noticed that an inordinate number of sons and caretakers were shaving their elder fathers and patients. And many were bedridden without easy access to running water to rinse blades or wash off shaving cream. Traditional razors were unwieldy and tended to nick skin. According to Gillette’s Matt Hodgson, a design engineer at Gillette,
“It was clear we needed to create something completely new.”
As a result of their target audience insights, Gillette is going to introduce the first razor built for caregivers to shave others. The Gillette Treo has an extra-wide handle and comes with a clear tube that eliminates the need for running water or shaving cream. It’s easier to use and much less messy than existing razors. And Hodgson went on to say that Procter & Gamble sees the Treo as only the beginning in the development of new products for seniors. He claims that Procter & Gamble plans to look for more ways to simplify hair-washing, laundry, and ear care for aging adults.
Congratulations to Gillette! They saw a problem their expertise could solve. And virtually every product category can do the same thing. CMO’s should take stock and determine if their existing products are suited for seniors and if so, begin to market them with this fast-growing demographic in mind. And if not, perhaps a company’s expertise and brand equity are suited for the development of new products and/or line-extensions. One thing for sure—the waiting game is over. And because new products can take several years to develop and test, it’s time to start now. Your competition is looking at the same data. Join the silver rush and beat them to market.
To read the entire Washington Post article, click on the following link: ‘It’s become a
gold rush’: Inside the race to create smart shoes, custom razors and
high-tech devices for the over-65 crowd
Photo by Benjamin Morris
- Partner Silver Advertising, specializing in marketing to Seniors. Author of The Silver Rush: Marketing to the California Senior.
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