Older shoppers are the new hot thing for consumer brands

The pandemic has disproportionately affected the elderly, which executives say has highlighted the importance of staying healthy later in life.

This change is driving companies like Nestle TO,

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Colgate-Palmolive Co.

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and Danone TO

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to launch new consumer products, they say they are increasingly interested in good aging.

“We clearly see healthy aging, even more so now with the Covid world, as a huge trend,” said Danone CEO Emmanuel Faber.

Danone said in November that it is setting up a new healthy aging unit to accelerate research into how nutrition impacts knowledge and mobility. Yogurt maker Activia recently launched in Brazil Fortifit Pro, a whey protein product that claims to help muscles, joints and bones and said it intends to develop more products designed to help people age better.

It is estimated that the number of countries with more than 20% of the population aged 65 or over will increase from 15 last year to 44 by 2030, according to the UN. It is estimated that this number will reach 61 by 2050, when it will include the USA, China and Brazil.

Researchers estimate that the economic uncertainty surrounding Covid-19 will also accelerate the decline in the birth rate in the US and China.

Last month, Nestle launched a powdered milk drink in China under the Yiyang brand, intended for older adults, which it says improves mobility during aging.

In recent years, the company’s medical science unit has shifted its focus from food and beverage manufacturing to helping people recover from hospitals, to helping prevent people from being admitted in the first place, said Greg Behar, who heads the unit. .

“There are more and more people who want to proactively manage their health in the aging process,” said Behar. “What has the biggest impact on people is the decrease in physical and cognitive functions, then there is the beauty and the element of the skin.”

About 20% of Nestle Health Science’s research budget is now dedicated to aging. The company uses small nematode worms known as C. elegans, which age rapidly with a lifespan of only two days, to test their nutritional assumptions.

Reckitt Benckiser Group PLC, which produces the Enfamil brand for infant formula, has also launched a milk drink for older Chinese consumers, which is said to contain ingredients to boost the immune system.

Overall, Reckitt says the Chinese market for milk with added ingredients to provide specific benefits is worth £ 500 million, equivalent to $ 686 million and growing by 13% a year. The company is developing several products to capitalize on the trend of self-care and expects Covid-19 to accelerate demand.

Other companies are changing their products to serve the elderly, who they say will spend more time at home, rather than in care facilities.

IKEA has begun selling vertical armchairs with higher seats to facilitate lifting, reclining chairs to promote blood circulation and jar clamps to unscrew lids, among its products for people with reduced mobility, including the elderly.

The range is part of an effort to print catering services for people with different abilities in IKEA products, said Britt Monti, a senior designer who worked on the collection. She added, IKEA continued to label the range as special for the elderly.

“Especially later in life, you don’t want to be labeled as older,” Ms. Monti said. “We don’t want to make much of it, we just want it to be a natural part of the design process.”

Procter & Gamble Co.

last year it began selling a razor for carers in Canada, where the company said the data showed that one in four people were helping someone with aging, disability or long-term health needs. The Gillette Treo, which was already available in the US, has a safety comb and a wider handle, filled with shaving gel, which is designed to give caregivers better control while shaving.

In terms of beauty and skin care, older consumers tend to spend more, making it a key demographic for companies like L’Oréal TO

. In France, women over the age of 65 spend 184 euros, the equivalent of $ 223, on beauty products each year, compared to 120 euros for young people aged 25 to 30, said Delphine Viguier, global brand president for L’Oréal Paris.

Last year, the company said growth in the skin care market has accelerated, in part due to an aging population. The trend is expected to continue in the long run.

Others have found success targeting anti-aging products to younger consumers.

When Colgate launched a luxury amino acid toothpaste in China last year to reverse the visible signs of gum aging, the company focused its marketing on a young audience, using famous bloggers and social media applications. Colgate took the approach after Filorga, its anti-aging face care brand, proved popular online for women between the ages of 25 and 35. The company said 80% of buyers who buy Colgate Miracle Repair were under 30 years old.

“In China, aging is for young consumers,” said Colgate CEO Noel Wallace last year. “They use anti-aging products – whether it’s skin health or something else – and they’re very much looking to benefit themselves at an early age.”

Write to Saabira Chaudhuri at [email protected]