Why be Friendly to Seniors ?
The size and continued growth of the older adult population in Toronto makes this an important demographic group to businesses and service providers.
- Older adults comprise 17% of Toronto’s population.
- In the next 20 years, this population will increase by approximately 50%.
- Almost 95% of Toronto older adults live in private households.
- Older adults head 22% of Toronto’s households.
It is important for businesses and service providers to understand this group and to avoid clichéd assumptions about aging consumers. Older adults:
- Are better educated, more independent and financially secure than previous generations.
- Wield economic and buying clout.
- Are brand loyal and tend to buy what they know, but they have an openness to seeking new things and experiences.
- Have the greatest need for and the time to make health and wellness a top priority. They make efforts to stay active, eat well and maintain good health.
- Are engaged in society and participate in a number of activities that foster a sense of community.
- Travel more.
Participants report that with leaders who are older adults themselves, the workshop makes a special impact.