Summary of Research Findings

As the population and household structures change in an aging society, older adults have become an increasingly important demographic that actively consumes and purchases. Attracting elderly consumers, who are considered to have ample money and time, has become one of the keys to future marketing success.

This research analyzes the market trends and company initiatives targeting this demographic. The analysis includes sectors specifically for the elderly, such as long-term care, rehabilitation or elderly care facilities, as well as general sectors, such as leisure, sports, hobbies, and learning classes.

During past few years, various sectors and enterprises have attempted to capture the demand of the elderly. Some have expanded the market, while others have failed and withdrawn.

Behavioral restrictions stemming from the 2020 pandemic have caused enormous damage to the senior consumer market, particularly in tourism and entertainment.

Despite the situation, home visit services, long-term care goods, welfare equipment rentals, and care robots, which belong to the long-term care and rehabilitation sector, have continued to grow, so have the sectors of health food, supplements, long-term care food and food for the elderly. Meanwhile, facility commuting and short-term admission services, which also belong to the long-term care and rehabilitation sector, have shrunk, as has the hobbies, lessons, and learning sector. The sports and clothing/daily goods sectors are on the road to full recovery but have yet to reach pre-pandemic levels.

Noteworthy Topics

Elderly Watch Services in High Demand, with IoT Devices Enabling Various Services

The increase in nuclear families and elderly households has generated various services for older adults. Among them, watch or monitoring services have shown robust growth as they are perceived as an essential form of daily living support for senior households. The market for these services emerged around the year 2000 in response to the growing demand for wellness checks for the elderly. Initially, home security companies offered these services to households with elderly parents living in remote areas. Currently, more companies provide these services, including home visit care and meal delivery providers. Some electric and gas companies are among these providers, utilizing their in-house infrastructure.

In recent years, services using telecommunication networks and IoT devices have increased, involving mobile phone companies, cable TV businesses, and manufacturers of everyday goods to provide monitoring services through household appliances, furniture, and housing materials that link to senior citizens’ daily activities, such as lighting, TV sets, beds, and front doors.

While businesses that dedicate themselves to providing monitoring services have emerged, some businesses provide watch and monitoring services by aligning with long-term care providers or elderly housing companies. Some home visit care and home meal delivery providers differentiate themselves from others by visiting the elderly in person to check on their wellness.

As dementia wandering has become a social problem, some local communities are unitedly addressing the issue together. Many municipalities use resources and IoT devices from the private sector to provide watch and monitoring services for senior citizens. As the population ages, the demand for monitoring services is likely to increase.

Research Outline