Insights From Alive Ventures Reveals Exciting Business Opportunities Catering To Older Adults
LOS ANGELES, CA / ACCESSWIRE / March 22, 2022 / Alive Ventures launched their Growing Older, Better campaign and released their market data and insight reports for 2022, which detail opportunities for entrepreneurs and investors to build companies, products, and services targeting the wants and needs of the over 55 million older adults in America. While older adults have the largest spending power of any age bracket in the marketplace, which in aggregate would be the 3rd largest economy in the world, older adults continue to be underserved by innovation. The data released by Alive Ventures identifies 4 innovation and investment opportunities for capitalizing on these underserved needs.
From reductionist stereotypes of aging, to a lack of cultural currency and status, adults age 65 and up have historically been an overlooked audience for design-led brands… until now. Alive Ventures is bringing fresh entrepreneurial, social and cultural energy Into product design for older people, catalyzing an aspirational design culture and movement anchored in the beauty of later life.
Within the reports released on March 21st, Alive spotlights 4 areas of opportunity worth considering by anyone interested in creating or investing in new business ventures to make growing older, better.
Dating, Better
Adults over 55 years old are the fastest growing group of online dating users. Yet the leading online dating sites typically fail to recognize how the changes that come with aging can significantly impact how older adults date. Factors such as retirement, health-related issues, divorce, and widowhood position them in a very different life stage than younger users. These significant life events influence whether or not older singles put themselves out there to date, how they date, what they look for, and how vulnerable they are willing to be. Current platforms rarely consider these nuances and leave older users' vast but unique needs unmet.
Connection, Better
Friend discovery services are one of the fastest growing categories of mobile app innovation. Yet again, the particular interests and challenges of older adults in meeting new like-minded people are typically left out of the designs of these new services. Older adults need new structures and solutions to create opportunities to connect with purpose and intention. Online and in real life, seniors are looking for new ways to meet over shared experiences and common interests, and hope to find joy and enrichment along the way.
Visibility, Better
Media portrayals of old age often stereotype later life in extremes, with people shown as either frail and frumpy or unrealistically adventurous and hale Older adults would like media representation to catch up to the modern realities of later life, particularly in reflecting their diversity. They want to witness older adults having fun instead of being made fun of, falling in love instead of falling down, and starting new endeavors rather than starting to decline. Seeing people who look like them can positively impact their view of themselves, as well as foster acceptance and even celebration of the benefits that come with age.
Recognition, Better
By the time older adults reach retirement age, they have significant life experience and a robust skillset with established levels of mastery. As older adults prioritize the things that bring them joy, many seek opportunities to share their wisdom with others and provide support and guidance. Yet there is a disconnect in the value placed on their knowledge by others, which results in fewer opportunities to mentor or impart their expertise. While many older adults would like to spend the later part of their careers doing such work, they feel the hiring market does not value their experience.
"We are a team united on the mission to design a future we all want to age into," said John Zapolski, Founder and CEO, Alive Ventures. "Abundant user and market research, as demonstrated through these insights and reports, allow us to uncover real, exciting innovation opportunities to impact the 55 million older adults in the U.S."
Alive Ventures is led by serial entrepreneur and social impact and design leader John Zapolski, who has deep experience conceiving and building companies at the intersection of design and social change. John is the co-founder of STEAM Carnival, a live entertainment brand that inspired kids to invent with science, technology, engineering, art, and math, and he co-created Fonderie 47, a fine jewelry and timepiece company developed to remove and destroy assault weapons from conflict zones, upcycling them into meaningful, elegant accessories.
About Alive Ventures:
Launched in 2020, Alive Ventures partners with great entrepreneurs to develop products and services that help our relationships grow stronger, more joyful, and better with age. Exclusively serving an audience of 55 million older Americans, the company brings together design talent, seasoned entrepreneurial talent and older adults themselves to co-design and launch beautifully designed products that older adults love to use and share. By marrying the wisdom and lived experiences of older adults with deep consumer insights, proven customer acquisition strategies and valuable early stage resources, Alive Ventures helps de-risk the traditional startup process.
CONTACT:
Ethan Fedida
Campfire Group
914-471-2075
[email protected]
SOURCE: Alive Ventures