The over 55 years They are a segment of the population that is of great interest to companies. 44% of Spanish organizations It has a business strategy and proposals for this group that represents 34% of society and in 20 years will reach 21.4 million people in our country.
Entrepreneurial ambition is higher among the largest and most reputable companies, since 61% of this group offers differentiated goods and services for the elderly, it provides rates, discounts and other economic advantages, has specific communication channels and preferential care services, and designs marketing campaigns to better reach these people.
These are some of the conclusions of the report Senior Economy Business Monitor 2023which he has presented at the Research Center ageingnomics of Fundación MAPFRE, and which reveals other relevant data, such as that among the business sectors that are most concerned with meeting the needs of the elderly, the insurance, health care, pharmaceuticals, consumer goods, banking, distribution, trade and passenger transportcompanies that generally associate aging with care and assistance (46%), experience and knowledge (36%) and as a “business challenge” (30%), due to the challenge for them to deal with new needs of these people.
In this sense, it is noteworthy that close to 40% plans to develop specific lines of activity for the senior group in the next five years and that three out of 10 You have already done some market research to identify your interests.
The work highlights the strategy silver from companies such as Bayer, L’Oréal, Bankinter, Atresmedia, HP, Grupo ONCE, Eroski, procter&gambleMAPFRE and Orange, who are characterized, for example, by offering personalized appointments at their offices, adapting ATMs, offering senior advisers, designing labels, packaging and specific formulas and segmented advertising for seniors, and others, such as Iberia and Compañía Levantina of Public Works Building, which offer special aid to obtain financing and design packages of flight trips with hotels at competitive prices.
The presentation was attended by Ignacio Baeza, Vice President of MAPFRE, who made reference to “a group of potential consumers” which currently exceeds 16 million people in Spain, more than a third of the population, and which, according to all reliable projections, is going to increase. “It is a phenomenon that is already changing the lives of citizens and companies in many aspects”.
Pensions and complementary income
He also explained the need to guarantee pensions and supplementary income sufficient to address this new reality, and in this sense, he has indicated that “We can only consider increased longevity a blessing if citizens are capable of living it with health and dignity, that is, not only away from poverty, but with sufficient income and the capacity for leisure and consumption to enjoy it”.
The meeting was also attended by Antonio Garamendi, president of CEOE, who was accompanied by Juan Fernández Palacios, director of the Research Center ageingnomics of Fundación MAPFRE, Iñaki Ortega, advisory director of this entity, and Gerardo Iracheta, president of Sigma Dos, the entity with which Fundación MAPFRE has prepared the report.
Representatives of different companies also participated, such as Helena Herrero, president of HP Southern Europe; Bárbara Palau, General Counsel of Grupo Once; and Patricia Pérez, corporate general director of Atresmedia, companies that have shared the good business practices that they carry out for the senior group.
The study, results of surveys and analysis of public documentation of a total of 182 companieshas not only made it possible to investigate the services, products, campaigns and commercial offers aimed at the senior segment, but also to analyze the offer of companies in the personal care sector, and to qualitatively assess the innovative services of startups such as Vilma.
