Mind Your Manners: Doing Business with Older Adults

Nearly one in every eight, or 12.6 percent, of the population is an older American. And, here in Texas, we have one of the fastest growing senior populations, with significant growth in San Antonio and the Hill Country. According to Senior Magazine online, seniors control 70 percent of the disposable income in the United States. That means one-third of the population controls two-thirds of the spending capital.

So, if you are a business owner, what is the best way to do business with an older adult? Well, the same way that you do business with anyone else. Courtesy and customer service is key. The business "best practices" are basically the same but there are some distinctive purchasing characteristics of seniors that may help you in your business. Seniors tend to be very brand loyal and rely on word-of-mouth recommendations to determine what services they will use or which items they purchase. Since many of today's seniors grew up during the Great Depression, these seniors need to see a good value for their money. And, maybe surprising to some, nearly half of all seniors use the Internet to do research before purchasing.

Face-to-face interaction is very important to seniors as is accessibility. Make sure your business is up-to-date with accessibility rules and regulations and make your business as easy to get in and out of as possible. Offer assistance if necessary. As any good business person, maintain honesty and fairness and if you know of or hear of any scams involving seniors, either local or from outside, be sure to alert local authorities to verify.