Senior Living: How Today’s Senior Living Residents Have Changed

Senior Living: How Today’s Senior Living Residents Have Changed

Author: Cyndi Oaxaca

Upon hearing the phrase “senior living,” visions of walkers, oxygen tubes, and bed pans come to mind. Senior living is the broad term used to encompass everything from independent living developments to CCRCs (Continuum Care Retirement Communities), yet there are certain perceptions associated with this elderly demographic that are ripe for disruption.

Ranging from 52 to 70 years of age, baby boomers are the newest addition to the senior citizen cohort, and they’re bringing with them a new outlook on aging. Empowered by empty nests and financial freedom, baby boomers are embracing their 55+ years for the opportunities they hold rather than dreading the obstacles present. This outlook, coupled with buying power and declining mortality rates, has sparked a multi-billion dollar market for a group now being termed “active adults.”

 How ‘Optimistic Aging’ is Evolving Senior Living

In 2013, Rohit Bhargava coined the term “Optimistic Aging” to characterize the new wave of excitement and vigor associated with the empty nester years and beyond. According to a study by the National Council on Aging, 89% of older adults feel confident that they could maintain a high quality of life throughout their senior years¹—a statistic that’s having profound effects on senior living development.

The gap between middle-aged adulthood and assisted living has grown even wider, creating a need for developments that support a dynamic and recreational lifestyle for older adults. These developments have come to be called active adult communities, or as some might say, a baby boomer’s playground. Active adult communities can range from age-restricted independent living communities to multifamily apartments that primarily targets older residents. The common thread, however, is that each of these communities promote a distinct lifestyle—one that’s oriented towards social and recreational activities.

Not only is this demographic evolving development trends within senior living, but the implications for marketing communication are changing as well.

Even CCRCs are evolving their communities towards a younger, active adult. At Ventana by Buckner (Dallas, Texas), a movie theater, pet park, and Resident Sky Lounge are among the amenities offered to residents.²

Defining Boomer Characteristics

In the years ahead, senior living demand will be met with supply, and marketers will be tasked with differentiating their community within a cluttered market. Before marketers relegate all senior citizens to a traditional marketing mix, there are a few things to keep in mind:

• 88% of baby boomers are internet users³
• 50% of baby boomers spend at least 15 hours online every week⁴
• 96% of online baby boomers use search engines⁵
• 95% of online baby boomers use email⁶
• 82% of baby boomers belong to a social network, the most popular being Facebook⁷

With a more relaxed pace, leisure communities like Reynolds Lake Oconee⁸ (Greensboro, Georgia) and Bluejack National⁹ (Houston, Texas), offer resort-like amenities and golf courses targeting an affluent empty-nester demographic.

 Baby boomers are looking for information online. Senior living communities who recognize this have the opportunity to be both a resource and a solution. For adults who are 70+, it’s important to note that decisions are increasingly made by the children—often Gen-Xers—who are even more tech savvy than the boomer generation.

1. “Aging adults optimistic about what lies ahead,”accessed September 6, 2016.

http://www.usatoday.com/story/news/nation/2014/07/15/aging-survey-research/11921043/

2. “Ventana by Buckner,”accessed September 8, 2016.

http://www.ventanabybuckner.com/

3. “Internet User Demographics,”accessed September 6, 2016.

http://www.pewinternet.org/data-trend/internet-use/latest-stats/

4. “Baby Boomers spend more time online than millennials,”accessed September 6,2016.

http://betanews.com/2015/10/21/baby-boomers-spend-more-time-online-than-millennials/

5. “Study: The 3 Most Effective Ways to Reach Baby Boomers,”accessed September 6,2016.

https://www.dmn3.com/dmn3-blog/3-most-effective-channels-for-marketing-to-baby-boomers

6. “Study: The 3 Most Effective Ways to Reach Baby Boomers,”accessed September 6,2016.

https://www.dmn3.com/dmn3-blog/3-most-effective-channels-for-marketing-to-baby-boomers

7. “Should You Market to Baby Boomers on Social Media?,”accessed September 6,2016.

https://www.dmn3.com/dmn3-blog/should-you-market-to-baby-boomers-on-social-media

8. “Reynolds Lake Oconee,”accessed September 8, 2016.

https://www.reynoldslakeoconee.com/

9. “Bluejack National,”accessed September 8, 2016.

http://www.bluejacknational.com/

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“Cyndi Oaxaca is a Content Strategist for Criterion.B an agency focused on branding and inbound marketing for the commercial real estate and multifamily housing industry.”