Eugene, OR – SeniorTrade recently released The Top 10 Trend Report, written by Nancy Griffin, founder of SeniorTrade Media and host of the weekly business podcast, Glowing Older.
The report is based on more than 100 expert interviews and feedback from the advisory board, and is sponsored by PS Salon & Spa, a national senior community salon and spa provider.
Top 10 Trends:
Aging in the RIGHT Place
Housing is recognized as a vital contributor to well-being. Nine out of ten older adults want to stay in their primary residence. Increasingly, the definition of aging in place will expand, with choices that combine the best of aging in place and senior living.
Senior Living as a Service
Senior Living as a Service (SLaaS) represents the uncoupling of services from housing to create custom solutions that meet older adults where they are. Senior living communities are well-positioned to offer personalized services that help older adults be healthier and engaged, wherever they live.
Solutions for the Forgotten Middle
“Cracking the code” to offer moderately priced housing solutions to those unable to afford private-pay senior living requires significant creativity and a long-term commitment from the top. Expect to see government incentives for affordable housing in the coming years.
Affinity communities intentionally bring together people who share common interests or identifying factors such as race, religion, or sexuality. Expect to see more senior living communities built around wellness and more wellness communities catering to older adults.
New projects move beyond age-restricted housing to create community for people of every age. Creative cost-balancing includes younger residents receiving partial rent abatements for service hours for older adults, and older adults caring for children in the community.
Power of Purpose
Anna Hall with The Purpose Equation said in a recent SeniorTrade interview that senior living is missing critical elements that make purpose flourish. “When we ignite purpose in a senior living community, residents’ health improves, compliance with medical and therapy regimes increases, motivation is sustained, and culture thrives,” she says.
Acceleration of Age-Tech
An influx of startups and investment capital is driving innovation in technologies for older adults.
Food Delivery Redefined
Options include pop-up stores, farmers’ markets, ready-to-prepare meals, take-and-go, and delivery options. There will be stronger recognition of food and nutrition as essential components of fighting chronic disease and aging well.
Policies are shifting as senior living staff are two times more diverse than residents. Senior living leaders recognize the need to create more diverse, welcoming, and inclusive communities.
Negative perceptions of aging undermine opportunities for senior living operators, staff, and residents. In time, both health care and the whole of society will have to shift perspective about the value of later life and those living it. Meanwhile, the senior living industry can embrace a more manageable objective: making sure older adults live in an affirming environment.
SeniorTrade is a B2B media platform produced by Contento Marketing, dedicated to The Business of Aging Well. The weekly business podcast Glowing Older, SeniorTrade Blog, and bi-monthly Brief cater to senior living and aging services providers, investors, developers, and consultants interested in innovations for later life.