So, Amazon has opened brick and mortar stores to sell to the elderly. (Source: http://www.retailwire.com/discussion/16714/amazon-targets-aarp-set-with-new-store)
The graying of America means that Amazon has targeted a large and growing market, one that also has significant levels of disposable income. Items purchased through the store are eligible for free shipping and customers can have discounted items delivered on an ongoing schedule as part of Amazon’s Subscribe & Save program. The store also includes a “coupons” section offering items discounted on a dollar or percentage basis.
In the Indian context, we keep hearing about the “demographic” dividend – about the consumption story in India being driven by the fact that in 2050, there will be > 50% of the population who will be under 40. However, to focus only on the “demographic dividend” is to miss the math. With a billion strong population – in 2021; there’s a market of 17.5 crore people who will be above 60.
From a lifestyle perspective – the interplay of three factors: 1. high growth leading to ability to pay, 2. nuclear families and lack of systemic social security, and 3. our genetic high propensity for chronic diseases will mean that there is a market for retail aimed at the Seniors in India.
As the infographic shows, the main categories would be Nutrition, Exercise & Fitness, Healthcare, Medical supplies, and Travel, Leisure & Entertainment.
