Retailers Risk Losing Billions by Ignoring Older Shoppers
- Retailers could lose £4.5bn by 2030 due to neglecting older customers
- 60% of older people feel concerned about lack of seating in shopping areas
- Anchor’s Standing Up 4 Sitting Down campaign calls for more accessible high streets
- Baby boomers’ economic power can revitalize the high street
- 12,000 shops could remain by 2030 if changes aren’t made
A new report commissioned by Anchor, the older people’s charity, warns that retailers risk losing up to £4.5bn annually by 2030 if they fail to cater to the ‘grey pound’. The Centre for Future Studies’ report, ‘Older generations to rescue the high street’, reveals that 1.7 million older individuals feel excluded due to inaccessible shopping environments and lack of seating. Anchor’s Standing Up 4 Sitting Down campaign urges action to combat loneliness and improve health and wellbeing. With baby boomers’ economic power, transforming high streets into age-friendly spaces is crucial for retailers and society.
Factuality Level: 8
Factuality Justification: The article provides relevant information about the need for high streets to become age-friendly environments and the potential economic consequences if they fail to do so. It cites a report by the Centre for Future Studies and includes quotes from experts in the field. However, it could be improved by providing more specific details on the methodology used in the report and including statistics or examples of other retailers that have made changes to accommodate older customers.
Noise Level: 6
Noise Justification: The article provides relevant information about the need for high streets to become age-friendly environments and the potential economic consequences of not doing so. However, it contains some repetitive statements and focuses on a specific charity’s campaign without exploring other possible solutions or perspectives.
Financial Relevance: Yes
Financial Markets Impacted: The report predicts up to £4.5bn annual losses by 2030 due to high streets failing to attract the grey pound, and warns of the potential demise of the high street with the disappearance of banks, estate agents, and many well-known brands.
Financial Rating Justification: The article discusses the financial impact on retailers and the economy as a result of not catering to older people’s needs, specifically addressing the lack of seating in shopping areas and the need for high streets to adapt to an aging population.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event in the text. The article discusses the need for high streets to become more age-friendly and inclusive of older people, with potential economic consequences if this does not happen.
www.retailsector.co.uk