Next Generation to Senior The Next Generation of Senior Living Consumers

Who They Are and What They Want

WHO THEY ARE

Why Do Individuals Move to a Senior Living Community? Reason for Moving 2012 2001

Closer to family/friends 12% 11%

Age 11% 6%

Health issues 10% 9%

Access to services 10% 8%

Unable/didn’t want to live alone

8% 9%

Availability of health care 7% 3%

So children didn’t worry 6% 2%

Help, assistance was available 6% 4%

Peace of mind 5% 3%

2012 Survey of Independent Living Residents - ASHA

Will these reasons remain the same in the future?

Yes, but …….. ... their stories will different … their expectations will change … their options will expand

THEIR STORIES WILL BE DIFFERENT

Who They Are

Different Family Dynamics

Never married No children Step families Multigenerational Same-sex couples

MetLife/U.S. Census 2010

Married Couples

56%

Single Women

26%

Single Men 18%

2010

Married Couples

52%

Single Women

33%

Single Men 15%

2020 Age 65 - 74

Early Boomer Households By Gender

Source: MetLife Report on Early Boomers

Age 55 - 64

By 2020, there will be 2 million more

Boomer women (age 65 – 74) than men

Women Become Increasingly Important

Education Attainment Is Higher

More Working and Working Longer

“The highest amount of entrepreneurship in the last ten years in America has happened among the 55- to 65-year-olds.”

- Ken Dychtwald, PhD

More Working and Working Longer

The number of adults over age 75 who have a job has increased

by 158% since

1990.

- Bureau of Labor Statistics

THEIR EXPECTATIONS WILL CHANGE

Who They Are

The Future

Consumer Is

Going to Know a

Lot More About

Aging Well

3 in 4 adults 60+ engage in physical

activity at least once a week to help

maintain their health. - Penn Schoen and Berland Associates – The United States of Aging

57% strongly agree with the statement

“I have a strong sense of purpose and passion

about my life and future.” - Penn Schoen and Berland Associates – The United States of Aging

Access to

Information Is Easy

and Endless

They Have Embraced Technology

p e w i n ternet .o r g 4

Main Report

Internet adoption

As of April 2012, 53% of American adults ages 65 and older use the internet or email.2 Though these

adults are still less likely than all other age groups to use the internet, the latest data represent the first

time that half of seniors are going online. After several years of very little growth among this group,

these gains are significant. In August of 2008, 38% of adults ages 65 and older were online; by August of

2011, the share of seniors using the internet or email at least occasionally had barely inched up to 41%.

However, by February of this year the number of online seniors had bumped up to 48%. In the latest

survey, 53% said they used the internet or email.

Internet use by age group, 2000-2012 % of American adults age 18+ who use the internet

Source: Pew Internet & American Life Project Surveys, April 2000-April 2012. More: http://pewinternet.org/Trend-Data/Internet-Adoption.aspx

2 In the latest Pew Internet survey, internet users are defined  as  those  wh o  sa y  “yes”  to  at  least  one  of  the  

following  three  questions:  “Do  you  use  the  internet,  at  least  occasionally?”  OR  “Do  you  send  or  receive  email,  at  least  occasionally?”  OR  “Do  you  access  the  internet  on  a  ce ll  phone,  tablet  or  other  mobile  handheld device, at least  occasionally?”  Fr o m  Ja n uary  20 05  t hrough  Fe br uary  20 12,  an  internet  user  was  defined  as  so m eone  wh o  said  “yes”  to  at  least  one  of  two  questions:  “Do  you  use  the  internet,  at  least  occasionally?”  OR  “Do  you  se nd  or  receive  email, at  least  occasionally?”  When  co mpared  wi th  the  old  definition,  the  new  definition  results  in  a  one-percentage-point increase for those ages 65 and older (not a significant difference). Prior to January 2005, an internet  user  was  someone  who  sa i d  “yes”  to  one  question:  “Do  you  ev er  go  online  to  access  the  Internet  or  World  Wide  Web  or  to  se nd  and  receive  email?”

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They Have Embraced Technology

p e w i n ternet .o r g 4

Main Report

Internet adoption

As of April 2012, 53% of American adults ages 65 and older use the internet or email.2 Though these

adults are still less likely than all other age groups to use the internet, the latest data represent the first

time that half of seniors are going online. After several years of very little growth among this group,

these gains are significant. In August of 2008, 38% of adults ages 65 and older were online; by August of

2011, the share of seniors using the internet or email at least occasionally had barely inched up to 41%.

However, by February of this year the number of online seniors had bumped up to 48%. In the latest

survey, 53% said they used the internet or email.

Internet use by age group, 2000-2012 % of American adults age 18+ who use the internet

Source: Pew Internet & American Life Project Surveys, April 2000-April 2012. More: http://pewinternet.org/Trend-Data/Internet-Adoption.aspx

2 In the latest Pew Internet survey, internet users are defined  as  those  wh o  sa y  “yes”  to  at  least  one  of  the  

following  three  questions:  “Do  you  use  the  internet,  at  least  occasionally?”  OR  “Do  you  send  or  receive  email,  at  least  occasionally?”  OR  “Do  you  access  the  internet  on  a  ce ll  phone,  tablet  or  other  mobile  handheld device, at least  occasionally?”  Fr o m  Ja n uary  20 05  t hrough  Fe br uary  20 12,  an  internet  user  was  defined  as  so m eone  wh o  said  “yes”  to  at  least  one  of  two  questions:  “Do  you  use  the  internet,  at  least  occasionally?”  OR  “Do  you  se nd  or  receive  email, at  least  occasionally?”  When  co mpared  wi th  the  old  definition,  the  new  definition  results  in  a  one-percentage-point increase for those ages 65 and older (not a significant difference). Prior to January 2005, an internet  user  was  someone  who  sa i d  “yes”  to  one  question:  “Do  you  ev er  go  online  to  access  the  Internet  or  World  Wide  Web  or  to  se nd  and  receive  email?”

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18-29 30-49 50-64 65+

Seven in ten seniors own a cell phone, up from 57% two years ago.

One-third of online seniors use social networking sites like Facebook and LinkedIn.

Among Internet users ages

65 and older, 70% use the Internet on a typical day.

13% of seniors already own a tablet.

THEIR OPTIONS WILL EXPAND

Who They Are

“The National Association of Home

Builders (NAHB) says that since October,

2008, the number of members with a

Certified Aging in Place Specialist

designation (CAPS) has more than

doubled to 4,751.”

‣ Home Technology

‣ Smart Homes

‣ Home Health

‣ CCRCs Without Walls

‣The “Village” Concept

‣ Communal Housing

‣ Active Adult Adding AL/MS

Competitive Landscape Changes

WHAT THEY WANT

My ideal senior living community of the future …

Promotes wellness and healthy living

Provides transportation services that appeal to all residents

Provides access to current technology (realizing it evolves)

Allows residents to age in place

Offers à la carte services (e.g., housekeeping, laundry, etc.)

Offers a variety of dining venues

Offers à la carte dining

Is within walking distance of shops, restaurants, cultural venues, etc.

Provides opportunities for continuing education

Connect residents with volunteer opportunities

Provides intergenerational programming

SOURCE: ASHA/2012

Community Attributes

Wellness

• Fully embraced concept

• Initiatives vary greatly

• Best when it represents culture

• Evolving to à la carte

• Prospects becoming educated

• Designing space to enhance

– Fitness Centers

– Aerobic Rooms

– Classrooms

– Clinics

– Dining

Hospitality

• Driven by desire for choice

• It’s the service experience

• True implementation limited

• Becoming formalized as

culture in some places

– Concierge position

– Carry-out/room service

– Boutique gift shops

– Car service

– Spas

• Impacting community design

Dining

• Choice and convenience

• Healthy eating

• Wide range of options

– Traditional/Buffet

– Restaurant-style

– Market/bistro

– Pubs

– Carry-out

– Ready to cook

– Groceries

• Supports residents and families

– Atmosphere

– Food choices

– Hours

Integration of Technology

• Wide range of applications

– Resident communication

– Delivery of services

– Health care

– Marketing

• Retrofit vs. new build

• Ante for the next generation

• A lot of “Buck Rogers” ideas

• Big names big money

Community Design

• Flexibility

• Outside In

• Transitional, not traditional

• Comfortable

• Enhanced service areas

• Informal gathering spaces

• Intergenerational

• Integrated/multi-use

• Green

Residence Design

• Customization

• Higher design standards

• In-residence laundry

• Outdoor space

• Enhanced storage

• Technology-friendly

• Sensible design

– Counter/cabinet height

– Bathroom design

– Rounded corners

• Shift from operations to service model

• Physical plant limitations

• Managing new vs. existing resident expectations

• Addressing category shift – senior housing to senior services

• Understanding market value of initiatives

CHALLENGES

• Thinking about the future consumer, rate your current ability to deliver on

each trend discussed using a scale of 1 to 10, with 1 being “not being addressed at all” and 10 being “fully addressed.” • Wellness • Hospitality • Dining • Integration of Technology • Community Design • Residence Design

• Based on your scores, what would it take in each area to achieve and sustain

a 9 or 10?

DISCUSSION