Merchants should remember the needs and preferences of older people as while implementing retail technology. In addition to the humanitarian value of making life a little easier for the aging, it's also good for business.

According to Neilsen, the World Health Organization indicated that the number of people 60 years old and older will reach an impressive 2 billion by 2050. As baby boomers age, the older demographic will be increasingly important to the merchants, but the retail industry is under-prepared to serve this group well, the source cautioned.

"The findings serve as a wake-up call to manufacturers, retailers and other marketers that need to bolster efforts to better reach and cater to an aging demographic," said Todd Hale, senior vice president of consumer & shopper insights at Nielsen.

Where does technology fit in? First, merchants can use retail customer intelligence to identify trends in what aging populations need and prefer as well as offer personalized suggestions to older patrons. For example, Marketing Charts explained that older age groups responded favorably to services like immersive shopping technology, which allows shoppers to virtually "try on" clothes on a high-definition screen. Retailers should also remember the needs of the elderly when planning their technology, making sure services like in-store kiosks are accessible and intuitive for this group of people.

This entry was posted by Retail Pro on Wednesday, March 12th, 2014 at 7:47 am .