I have just completed a research study on Indonesia's expanding elderly segment, comprising 200 middle to upper-class individuals aged 55+. This study uncovers valuable insights for businesses seeking to tap into this thriving market.
By the end of 2023, there will be approximately 22 million Indonesians aged 65+ y.o., representing a significant growth opportunity. Surprisingly, this segment remains largely untapped.
Key findings from my survey indicate a changing mindset and a substantial business opportunity:
In the past, sending elderly parents to care homes was seen as disrespectful, but times have changed.
Over a quarter of the same generation (29%) are now open to residing in elderly care facilities themselves. This shift is driven by their desire not to burden their children and the recognition of the challenges of balancing work and caregiving responsibilities.
Notably, the upper class shows greater openness (34%) compared to the middle class (23%).
This evolving perspective presents an exciting opportunity for businesses in the elderly care market. To capitalize on this potential, we can conduct comprehensive market and consumer studies, identify new models of elder care, and understand the unique needs of the elderly population. More data on this segment coming up.
Iwan Murty
https://bit.ly/3D1TKR8 to check this in my LinkedIn post.
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