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Senior Tech Channels: Looking Beyond Retail

By Parks Associates, September 09, 2019

independent living

Parks Associates research shows that 17% of heads of US broadband households are people age 65 or older, and 20% are a current or future caregiver. However, seniors and their caregivers are not typical demographics of focus for consumer technology companies, and healthcare ecosystem players are having to learn how to engage older patients and their caregivers outside the context of medical and long-term care facilities.

Almost 90% of seniors identify living in their own home for as long as possible as highly important, a consideration both seniors and caregivers take into account when seeking out assistive solutions and connected technology. Nearly 35% of seniors and 55% of caregivers state they would be likely to purchase an independent living system, but we have yet to see widespread availability and adoption of these solutions. Why? This may be due, in part, to where and how seniors and caregivers are seeking out independent living solutions.

Parks Associates research shows only 5% of seniors identify retail as their preferred channel for purchasing an independent living system, in stark contrast to nearly every other connected device where the retail channel reigns. However, nearly one-third of seniors identify companies specializing in independent living solutions as the most-preferred channel of purchase, with independent living manufacturers following closely behind. Caregiver channel preferences mirror those of seniors.

As a result, companies are beginning to see the value in selling connected health products and services to seniors and their caregivers through channels such as home service providers, home builders, in-home care agencies, security companies, and beyond.

For a deeper look into how seniors and caregivers approach connected health technology, check out the recently published 360 View – Independent Living: Senior and Caregiver Perspectives.

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