From Gen X to Seniors: Breaking Stereotypes and Unlocking New Opportunities for Innovation
Hi, this is Evelyn from Thinker & Co, a newsletter with Short Notes on Design Thinking (Light), Human+Tech Systems, Innovative Product Design and Development, and Being a Solopreneur.
In the movie Mr. Harrigan’s Phone, teenager Craig gave the elderly Harrigan a new iPhone. Harrigan, a feared and lonesome business mogul, at first dismissed the gift “Thank you. I appreciate the sentiment, but no”, lecturing the young lad how “things own us”. Harrison did not have a television (so he wouldn’t spend all day watching it), and limited his radio-listening in his car (so he wouldn’t waste more time).
Young Craig ignored the protest and showed Harrigan what icons and apps are, in particular the one for the Stock Market. “I have a subscription to the Wall Street Journal” Harrigan protested. “Right, but the Wall Street Journal can’t do this” Craig said as he brought up the real-time market data.
A-ha.
“I’d be darned” Harrigan marvelled, sitting straight up “It’s like having your own stock ticker!”.
Soon enough, Harrigan settled into the double-thumbs forward-hunch pose we all know too well.
Photo: Courtesy of Nicole Rivelli/Netflix
This scene from the movie so beautifully illustrates a topic close to my heart - Old People and Technology.
An Outdated Notion
The belief that older generations aren't tech-savvy is increasingly outdated as Generation X approaches their 60s. Gen X, born between 1965 and 1980, was the first to grow up with personal computers and the internet, making them far more comfortable with technology than previous generations.
Many of us, myself included, were pioneers during the dotcom era. It's unfair that people often remember it as a "bust" yet overlook the many innovations that emerged during the “boom,” like online banking (I led the design of the first CIBC online banking site), Video on Demand (see this post), and early versions of voice commands similar to Siri (a project with Bell Canada).
As Gen X ages, they are carrying that tech familiarity into their senior years. They adeptly use smartphones, social media, online banking, and streaming services. Many have embraced remote work and online learning, and technology plays a major role in how they communicate with their adult or teen children. Gen X is poised to remain tech-enthusiastic well into their senior decades.
Why mention this? Because holding onto the outdated “old man, no tech” stereotype affects our work as user-centric innovators.
In the 90s, UX practitioners often included “low technical skills” in personas for adults over 50, assuming that older generations struggled with technology. Today’s 50-somethings no longer fit that mold. These days, we may include Facebook usage as part of their persona, as it’s a main social platform for that demographic.
Thanks to improved usability and accessibility, Boomers and seniors also interact with technology more frequently. It is a mistake to assume they are disconnected from it.
UX practitioners and innovators must recognize these trends. By the 2030s, Gen X will redefine what it means to be “older” or “senior.” They will demand user-friendly, accessible, engaging, and innovative tech solutions that add value to their lives.
This opens up a wide range of new possibilities.
An Exploding market
This brings us to a significant opportunity— the exploding senior market. With an aging population, increased life expectancy, and growing wealth, older adults are not only using technology but are also driving demand for innovative solutions.
Some statistics from the US:
The U.S. senior living market, which includes assisted living facilities and independent living communities, is projected to grow by $127.37 billion between 2023 and 2028 (Technavio). Just imagine the many use cases that call for innovation in these spaces!
Active adult (55+) communities have become increasingly popular and are expected to reach a market value of $805 billion by 2030 (Grand View Research). From wearable health tech to outdoor gears, we are looking at a population who welcomes new, life-enhancing ideas.
These people have wallets to match their desires. As of 2023, Americans aged 70 and older control over 30% of U.S. wealth, with this group having gained $14 trillion in net worth since 2019 due to rising home values and stock market gains(Wealth Management).
All these translate into lucrative marketing opportunities across multiple industries catering to the older/senior folks. E.g. I recently learned of a company that explores the use of VR for seniors with cognitive issues. I can only imagine many more potential usages of new technology to manage common health conditions.
And we should look beyond the obvious application of new technology. As per Maslow’s pyramid, Gen X, Boomers and Seniors are not just looking for a healthier life, they are looking for a happier and more fulfilling life. Again, the dated notion of seniors being content with the status quo needs to be re-examined. New and exciting ventures are no longer the wishes limited to the young ones. Increased lifespan combined with better health level have many question the traditional retirement milestones. With self-fulfillment as the ultimate goal, have you wondered how technology may play a role? In fact, will seniors leave their seats as passive consumers and play a more active role in directing innovations? Again, are we playing into our bias if we limit our imagination to help seniors to fare better in assisted living, when the trend clearly indicates a new breed of old people who are more active, more alert, and overall demand more?
Motivation trumps everything
Beyond market size, it's essential to understand that motivation, not age, drives technology adoption. Seniors, just like younger generations, adopt technology when it meets their desires.
If someone is not on TikTok or use the latest gadgets, it does not mean that person is low tech; it simply means it is a mismatch between the offering and their interests or needs.
Like Mr. Harrigan, if you care deeply enough about something you would adopt the technology that helps make it happen.
My late father was one of the first in his industry to invest in a fax machine. He did it because access to overseas information was key to his business success. The fax machine, a technological and commercial breakthrough at that time, offered him the unprecedented ability to transmit information back and forth and thereby gained a competitive edge.
A more recent example is Telemedicine adoption. The COVID-19 pandemic accelerated the adoption of telemedicine among older adults. Many seniors now regularly use video conferencing to attend virtual medical appointments, reducing barriers to healthcare access and improving quality of life. According to an AARP survey, the percentage of older adults using telehealth services increased from 4% in 2019 to nearly 30% in 2020.
As much as I have painted a very rosy picture of healthy seniors living vibrantly into their 90s and beyond, of course we know with age we do move a tad slower, learn a bit differently. Still, with the right motivator, age would not deter someone from adopting innovative products.
Key takeaways
Holding onto the dated notion of “old people are not tech-savvy” prevents us from seeing the massive market in which people age with increased interests in and disposable income to invest in innovative products.
Do not assume older people (GenX and older) do not care for technology. Anyone can be motivated to adopt innovation when the product fits their needs.
User-centric practitioners need to pay attention to the generational shift in technology adoption (and demand) spearheaded by GenX who are entering their 6th decade.
The senior market is evolving quickly - will you evolve with it?