The industry covers all areas of life in which the special requirements and aspirations of the 50+ section of the population are taken into account. The Best Agers are a lucrative target group that is quality and brand-conscious.
The market for Best Agers is most developed in the US and Japan. In Germany, France and the United Kingdom, its importance is growing from year to year. In Eastern Europe, the topic of demographic change is becoming increasingly significant.
The future will be determined by innovative products that ensure the fitness and mobility of the Best Agers, quench their thirst for knowledge (e.g. through lifelong learning, active holidays and study trips) and that make it possible for them to lead a self-determined, comfortable life.
The products and services for the Silver Generation range from consumer goods (clothing, furnishings, health and body care, food supplements, technology and electronics, cars, etc.) to travel and wellness stays, adventure dining and delivery services, to real estate (barrier-free living).
Health is essential
The market for privately financed health products and services will be of huge importance in the future. Healthy (organic) food, functional food, dietary supplements and natural cosmetics are also on trend.
The sectors of rehabilitation, medicine, medical technology and disability aids are of particular interest and Austrian companies are helping to shape these areas. As the preservation of health is paramount and many Best Agers are confronted with restricted mobility, the safety aspect is also of great importance.
A family-run business established in Vienna in 1907 is the leader in the area of hearing aid acoustics and currently employs around 1200 people. The comprehensive supply network in Austria, Switzerland and Liechtenstein, Germany, France, Slovenia and Croatia incorporates more than 240 specialist institutes.
An electric stair climber for people who are dependent on assistance when walking up the stairs was developed in Austria. An electric caterpillar lift is used to safely transport people with impaired mobility up and down stairs and provides fundamental ergonomic relief for their back when they use the caterpillar lift.
Best Agers online
The Internet is of course part of the everyday life of Best Agers which is reflected in the rapidly increasing user numbers for the "Silver Surfers". As fashion-conscious consumers, Best Agers like to order online and make use of delivery services. The demand for special games consoles (e.g. with fitness factor and brain jogging) is growing. As active smartphone users, an increasing number of Best Agers have their own social networks. A successful mobile phone for senior citizens that is developed in Austria and sold internationally has particularly large buttons.
Holiday and entertainment
No other age group takes as many holiday trips as the 50 to 70-year-olds who are increasingly becoming a growth engine for travel and tourism providers. The hotel trade is responding with special offers such as adventure and cultural trips combined with medical support or gourmet dining.
An Austrian company developed a travel app with functions for the Silver Generation who enjoy travelling:
• multifunctional lists that simplify the planning and organisation of trips
• inspiring stories about destinations
• free offline city maps
In the area of consumer electronics, the special requirements of the target group are addressed in that the products are particularly user-friendly and malfunctions caused by improper operation are largely excluded.
Companies in the industry adapt the products and services that they offer to the wishes and requirements of the Silver Generation. They are supported in this by the consumers themselves but also by nursing staff, doctors, architects and travel specialists.
The Silver Generation is discerning and quality-oriented. They inform themselves in depth about the quality, functionality and reliability before they decide to buy.
Before making the purchase decision, the Silver Generation usually obtains information about the sustainability and environmental friendliness. Austrian suppliers who attach great importance to sparing use of resources develop ideal products for this group of consumers.