Targeting Spatial Clusters of Elderly Consumers in the U.S.A

Targeting Spatial Clusters of Elderly Consumers in the U.S.A For business demographers, a noteworthy aspect of national population aging is the course of its onset at local scales, such as neighborhoods and individual city blocks. Across the U. S., particular neighborhoods are evolving through aging in place into de facto retirement communities, populated by elderly residents who continue to live independently. An increasingly common manifestation of this development is the so-called naturally occurring retirement community (NORC)—a neighborhood where adults have stayed on and grown old while younger people have drifted away. NORCs materialize gradually over time where initial cohorts settle in close proximity and age in place, while subsequent younger cohorts move away. These settings offer novel opportunities for prolonging independent living in old age. They constitute distinctive readymade consumer markets as well, especially for businesses that rely on word of mouth. We present a general approach to spotting NORCs. We then consider such enclaves as potential target markets, both for community planners aiming to centralize service delivery to the elderly and for businesses offering types of services that can be bundled profitably for these residential concentrations of elderly. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Population Research and Policy Review Springer Journals

Targeting Spatial Clusters of Elderly Consumers in the U.S.A

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Publisher
Springer Netherlands
Copyright
Copyright © 2009 by Springer Science+Business Media B.V.
Subject
Social Sciences; Demography; Sociology, general; Population Economics
ISSN
0167-5923
eISSN
1573-7829
D.O.I.
10.1007/s11113-009-9149-2
Publisher site
See Article on Publisher Site

Abstract

For business demographers, a noteworthy aspect of national population aging is the course of its onset at local scales, such as neighborhoods and individual city blocks. Across the U. S., particular neighborhoods are evolving through aging in place into de facto retirement communities, populated by elderly residents who continue to live independently. An increasingly common manifestation of this development is the so-called naturally occurring retirement community (NORC)—a neighborhood where adults have stayed on and grown old while younger people have drifted away. NORCs materialize gradually over time where initial cohorts settle in close proximity and age in place, while subsequent younger cohorts move away. These settings offer novel opportunities for prolonging independent living in old age. They constitute distinctive readymade consumer markets as well, especially for businesses that rely on word of mouth. We present a general approach to spotting NORCs. We then consider such enclaves as potential target markets, both for community planners aiming to centralize service delivery to the elderly and for businesses offering types of services that can be bundled profitably for these residential concentrations of elderly.

Journal

Population Research and Policy ReviewSpringer Journals

Published: Jun 10, 2009

References

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