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Stereotypes Of Senior Citizens

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I think the market of senior citizens should never be neglected. Older people usually have more income and assets comparing to young adults. I feel like a lot of business don't consider the demand of senior citizens because of the stereotypes of this age group. Moody and Sasser (2017) lists some examples of stereotypes including senior citizens don’t buy new stuff, and they only focus on the same brand over and over. Also, there is another point that older people’s individual differences need to be recognized. So, there are a lot of misconceptions about how the gray market should be. For example, a lot of senior citizens start using social media, and according to the example in the book Aging: concepts and controversies, “people that over …show more content…
For example, online shopping is a popular way to but things now, and it can save people’s time, and most importantly, the package will be delivered to the door. For those seniors who won't be able to carry heavy groceries or drive, it’s beneficial that they can just stay at home and receive the stuff they want. However, some senior citizens don’t know how to use computers and online banking. The business should change their online shopping process more concisely and have more propagations toward the different lifestyle of senior citizens. It does not only make online shopping easier for older people to learn, but also the society will pay more attention to the aging group. It's a double win. In the future, the market of boomers is huge. Moody and Sasser (2017) points out that “adults age 45 and older account for 77% of financial assets in the United States, control 70% of total wealth, and account for more than half of the nation’s discretionary spending.” With the financial situations of this group, business and companies should take seniors citizens’ requirements …show more content…
According to the book Aging: concepts and controversies, there will be more opportunities for new growth in the silver industries because of people’s longer life expectancy (Moody& Sasser, 2017). One interesting point is about robotics. One of my friends is in this field, and she says the company has a lot of investments on inventing robotics that serves senior citizens and also for hospitals. She says now people rely on technology a lot, and they probably still focus on new technology because of its convenience. I feel it’s interesting to see how the market will shift to adapt the requirement of the future

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