Amazon Goes After Older Adults & Seniors With New Store

Amazon Goes After Older Adults & Seniors With New Store

SARAH PEREZ

posted 11 mins ago

50-active-healthy-living-amazon-com

Amazon has launched a new store catering to mature adults and seniors, the company announced today. But while “Amazon Seniors” would have a nice ring to it, Amazon went with a more polite, if wordy, branding: “50+ Active and Healthy Living Store.” As the name implies, the new store will be focused on a variety of “healthy living” needs, including nutritional products, wellness, exercise, fitness, medical, personal care, beauty and entertainment items and more.

The site also serves as another smart extension of one of Amazon’s lesser-known features: subscription-based ordering. Today’s its “Subscribe & Save” program allows Amazon customers to schedule automatic deliveries of household products (cleansers, paper towels, etc.) and other replenishable goods, including baby products (diapers, wipes, etc.), personal care items (deodorant, lotions, etc.), and more.With the new Amazon 50+ store, that same type of automatic re-ordering is possible for products aimed at the older crowd, like vitamins, incontinence care products, shampoos, and the like. When ordered via Subscribe & Save, customers are entitled to a discount – up to 15 percent – on items purchased.

Targeting seniors’ interest in clipping coupons to save, Amazon’s senior store – oops, sorry, it’s 50+ store – also features a “Coupons” section promoting items which are discounted by either a percentage off or dollars off. This section, featured prominently on the store’s homepage, lets consumers virtually “clip” the coupon, then receive the discount at checkout.

The senior store isn’t only an e-commerce site, Amazon notes in its announcement this morning – in addition to the usual product info, ratings, recommendations and reviews, it will also offer a “Resource Center,” which provides tips on beauty, healthy eating, caregiving, and other topics, designed to aid shoppers in product discovery. The content provided here is powered by GrandParents.com, and includes articles on things like “Boosting Brain Power” or “Losing Weight,” for example.

“We’re excited to offer customers in the 50+ age range a place to easily discover hundreds of thousands of items that promote active and healthy living,” said Chance Wales, Director of Beauty and Health & Personal Care for Amazon in a prepared statement. “This is a destination where a customer can purchase anything from vitamins and blood pressure monitors to skin care items and books on traveling the world,” he added.

Though older consumers tend to be late adopters of online services and the web in general, they’re still a powerful part of the Internet population. According to Jupiter Research, one-third of the U.S. 195 million Internet users are over 50, as of a study put out a couple of years back. As of last spring,Pew Internet found that 74 percent of those 50-64 use the Internet, and 41 percent of those 65+ do, up from 41 percent and 12 percent in 2000. However, at the time, the study found that purchasing products online was “significantly less popular” with adults over 65. By catering to this group’s desire for savings and convenience, Amazon may have a chance to grow its older user base.

The new store will be available from the web here: www.amazon.com/50activeliving.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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