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US Marketers Home-In on Senior Citizens, Next Stop Europe?

Bottom Line: Indicative of the growing worldwide importance to marketers of 'senior citizens', a so-called 'Experience Center' will open in 2013 catering exclusively for the 65+ demographic.


The venture, sited in Louisville, Kentucky, is backed by The International Center for Long Term Care Innovation [InnovateLTC], a self-styled "business accelerator aimed at helping to deliver innovative products and services for the globe's aging population. Backed by the city's efforts to exploit this growing and lucrative market, InnovateLTC plans  ... 

... 18,000 square-foot facility, claimed to  be "an Epcot Center for aging" that would draw consumers and industry leaders from across the country. The goal is to create what essentially would be a mall for fashionable and functional senior products, from furniture to cosmetics.

The project will aso serve as a 'living laboratory' in whch startups and other companies can demonstrate and test new products with a specific set of consumers.

One section will include a model home, called an 'idea house,' that will enable entrepreneurs to test and collect data on products designed to allow seniors to stay in their homes longer.

For instance, the bathroom might include new robotic-tub technology that helps lift seniors out of the bath. Another section will be filled with "eldertainment," such as virtual-reality games that promote fitness, mobility or rehabilitation.

One of InnovateLTC's clients is a Dutch company called Vita Care, which is developing "therapeutic motion simulation" systems that use video and vibrating chairs to simulate activities such as motorcycle riding or jet skiing. 

Assuming success stateside, it's seems invitable that the InnovateLTC concept will extend to Western Europe and beyond.

According to the company's website, InnovateLTC claims to be "deeply entrenched in academic research and has connections to several of the nation’s top universities".

Read the original unabridged AdAge article.

[Estimated timeframe: Q4 2012 onward]

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

... 18,000 square-foot facility, claimed to  be "an Epcot Center for aging" that would draw consumers and industry leaders from across the country. The goal is to create what essentially would be a mall for fashionable and functional senior products, from furniture to cosmetics.

The project will aso serve as a 'living laboratory' in whch startups and other companies can demonstrate and test new products with a specific set of consumers.

One section will include a model home, called an 'idea house,' that will enable entrepreneurs to test and collect data on products designed to allow seniors to stay in their homes longer.

For instance, the bathroom might include new robotic-tub technology that helps lift seniors out of the bath. Another section will be filled with "eldertainment," such as virtual-reality games that promote fitness, mobility or rehabilitation.

One of InnovateLTC's clients is a Dutch company called Vita Care, which is developing "therapeutic motion simulation" systems that use video and vibrating chairs to simulate activities such as motorcycle riding or jet skiing. 

Assuming success stateside, it's seems invitable that the InnovateLTC concept will extend to Western Europe and beyond.

According to the company's website, InnovateLTC claims to be "deeply entrenched in academic research and has connections to several of the nation’s top universities".

Read the original unabridged AdAge article.

[Estimated timeframe: Q4 2012 onward]

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: AdAge.com
MTT insight URL: https://www.marketingtrendtracker.com/article.aspx?id=5993