Product Innovation For Older People – Consumer Requirements On The FMCG Market

Abstract :

Population aging is a multi-dimensional phenomenon considered in terms of demography, medicine, psychology, sociology and economics. Along with the process of human aging, humans are subject to general changes in their bodies in the physical, physiological and mental spheres, all of which changes their market behaviors. The importance of recognizing the attitudes of older people in the process of purchasing products is primarily due to the fact that Poland is the fastest-aging country in the European Union. Poland has a serious demographic problem, as the number of elderly residents is constantly increasing. In 2018, the number of people aged 60 was over 9.5 million, or 24% of the population, and in 2050 it will be almost 14 million, or 40% of the population. In 'The 2015 Aging Report' published by the European Commission, referring to economic and demographic forecasts until 2060, Poland was indicated as one of the countries that will be most affected by the phenomenon of an aging population. A stereotype exists in the media of older people being maladjusted when it comes to any environmental change and not being open to market novelties. Research results, however, show that the senior consumer segment is very diverse. For this reason, the objective of this research was to define the requirements of older consumers for new products. This research was carried out in Poland in 2018 on a sample of 1617 people.