Welcome!

Open Source Cloud Authors: Yeshim Deniz, Elizabeth White, Pat Romanski, Liz McMillan, Rostyslav Demush

News Feed Item

Generation Engaged: New Study Spotlights The Modern Retiree

HARRISBURG, Pa., Nov. 13, 2012 /PRNewswire/ -- Laptops and iPads are commonplace. Medical marijuana is no longer a taboo subject. What could be considered extreme sports are among the activities of choice. Gluten-free and locally sourced foods are expected. Is this a college?

(Logo:  http://photos.prnewswire.com/prnh/20110615/PH19990LOGO )

Try a continuing care retirement community, or CCRC, according to a new senior marketing study.

Generation Engaged: What Forward-Thinking Marketers Need to Know About Today's Mature Market (Findings From Project Looking Glass II) provides insights into the mindset of the modern retirement community resident. It reveals an industry in flux, facing multigenerational challenges, but also plenty of opportunities.

Based on total immersion, focus group findings and supervised shopping, the senior market research was conducted by Varsity, a leading marketing communications and research agency specializing in the mature market.

In 2007, Varsity sent two researchers to become full-time residents at a CCRC in Pennsylvania for 31 days to learn how marketers and specialists could better reach the senior population, a nationally recognized effort that became known as Project Looking Glass. Dynamic shifts in the economy, healthcare and technology prompted the agency to revisit the concept again in July 2012, sending a researcher to Boulder, Colorado's Frasier Meadows for one month. While there, she kept written and video records of day-to-day activities, conversations and other community interactions.

Phase One included a series of observations and in-depth interviews with retirement community residents, administration and staff. An additional open-source element allowed members of the industry and public to participate through social media channels that included Facebook, Twitter, YouTube and LinkedIn. During Phase Two, additional researchers conducted focus groups with current and potential residents, and accompanied them on "shop-alongs" at Best Buy, Target, Safeway, restaurant chains and other outlets.

"The findings are extremely revealing," said Varsity's director of client services John Bassounas, "not just in comparison to our 2007 project, but in terms of the changes in the people themselves. What we're seeing is an intelligent, informed, highly engaged group that is much more physically and intellectually active than its counterpart just five years ago, and much more in control."

Top-level findings include:

  • The current mature market population is "transitional" -- a mixture of the Depresson-era Silent Generation and early Boomers who share some values, but are very distinctive in wants, needs and behaviors
  • Today's seniors conduct more online research prior to a move or purchase decision
  • The popularity of homecare is increasing, something that could pose a threat to current independent and assisted living models.
  • Developers need to be cognizant of aging in place features
  • Dietary trends include low-sodium, gluten-free, ocean-friendly and locally sourced items
  • Concern about future generations' ability to afford a retirement community
  • Activities must be wellness- and intellectually-oriented
  • There are mixed views on healthcare reform, and more acceptance of person-centered, alternative and holistic treatments
  • They are open to new technologies, including smartphones, tablets and computers

"This new study gives us a greater understanding of today's mature market, as well as insights regarding the opportunities we have for reaching them," adds Bassounas. "This audience has tremendous spending power, and providers of products and services will have to evolve and stay ahead of trends in order to remain competitive and appealing. We hope this provides some thought starters that will help Boomer and senior marketers make decisions based on facts, not assumptions."

Based in Harrisburg, Pa., Varsity provides marketing services for clients in the retirement living, consumer goods and services, technology and healthcare practice areas. The agency's client roster includes Sodexo Senior LivingAmerican Standard BrandsDelta Health Technologies and a number of continuing care retirement communities across the U.S.

A copy of the full report may be requested at varsitybranding.com.

Members of the Varsity team are available to provide in-depth presentations of the report, either via webinar or in person. To schedule a presentation or for additional information, contact Matt Bekelja at 717-652-1277 or [email protected].

About Varsity
Varsity is the nation's leading full-service marketing communications agency focused on winning the mature market. We connect the mature market with brands through one of four main categories: retirement living, consumer goods & services, technology and healthcare. Research drives our work and our team of passionate strategists in the disciplines of creative, public relations, interactive and media. For more information, visit www.varsitybranding.com.

 

CONTACT:

Shane M. Swisher


(717) 329-9694


[email protected]

SOURCE Varsity

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
René Bostic is the Technical VP of the IBM Cloud Unit in North America. Enjoying her career with IBM during the modern millennial technological era, she is an expert in cloud computing, DevOps and emerging cloud technologies such as Blockchain. Her strengths and core competencies include a proven record of accomplishments in consensus building at all levels to assess, plan, and implement enterprise and cloud computing solutions. René is a member of the Society of Women Engineers (SWE) and a m...
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...