Senior citizens eyed as huge market for online retailers

CEBU, Philippines —  While most people in the world are now staying home for the past couple of weeks or so, retailers are urged to exploit this time to target the “senior citizen” consumer segment to fully embrace online shopping.

Colliers International Philippines suggested that retail businesses, which are now closing their stores, should boost their presence online and partner with reliable delivery service and logistic companies to fully maximize the internet and continue to earn revenues.

The huge untapped market for online shopping, especially in the Philippines are the older consumers, who are used to physical shopping in stores, Colliers said.

Today is the best time for retailers to come up with good strategies and online gimmicks to entice this segment of consumer who also have the money.

While offline presence is still relevant after the crisis, Colliers’ believes that boosting online presence and attracting the senior citizen as an added revenue potential in online market.

“Target senior citizens who are embracing online shopping,” Colliers recommended.

The entire retail sector on the other hand is not as affected as other sectors like the hospitality sector, while supermarkets, pharmacies, convenient stores remain open, and some food and beverage outlets are offering delivery service.