Friday, October 22, 2021

Older Adults Represent a Huge Market Opportunity for Startups

Despite the size of the longevity economy, older adults remain under represented when it comes to new tech products and platform. There are so many opportunities for products an and services to fill the needs of older adults as they age, and yet they remain overlooked. If innovators from every sector took note and addressed this gap, a significant impact could be made, said startup cofounder Lawrence Kosick in this piece for Tech Crunch.

What is key when addressing this target market, though, is to remember that older adults don’t typically think of themselves as old. And you’d be wise to focus not on developing a product or service for “old people” but rather on creating a product that will empower older adults, he said. Think of it in terms of goods and services that will help people live healthier lifestyles, for example.

They’re a market that has a lot of wealth, has a lot to offer and they’re curious, engaged and eager; remember this about this demographic as you build your startup. For a couple of startups Kosick pinpoints as having done a good job addressing this market niche, along with details on this impressive sizable market opportunity, check out the Tech Crunch article here.

Read more:

Volunteer Group Helps Teach Older Adults How to Use Tech Devices

Tap Into the Longevity Economy With These Business Opportunities

Technology Has Proven to Be An Especially Crucial Support For Older Adults and Their Caregivers Through the Pandemic

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