August 2022
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August 8, 2022

Financials Matter

"It's Not Just About Finance"

How Seniors Respond to Online Shopping

“With age comes wisdom, but sometimes age comes alone.”

~Oscar Wilde~

Sometimes you just gotta love the wisdom and/or logic of our senior citizens.

In many ways they’re very adaptable.  However, their resolve to do (or not do) something is often Stronger Than Horseradish, as they are wont to say.

Example:  My 94-year-old Aunt Rita absolutely refuses to shop online.  Her reasoning is she doesn’t trust something seen on a computer screen.  She’ll say, “If I can’t see it and touch it myself, then I won’t buy it.”

That’s perfectly understandable.  However, she (like millions of others) won’t hesitate to buy something they saw on TV. 

The rationale is:  “Well, I saw it on TV so it must be true.”

Go figure.

It’s unfortunate for retailers in that they know online shopping is growing exponentially.  They also know that the fastest growing segment of the population (baby boomers becoming seniors) still wants to go to the store.

Retailers know that seniors’ control most of the wealth in this country.  At the same time, they realize that the younger generations represent the future of shopping.

So, how does the retail industry survive?

They’ll do one of two things:

  1. Re-invent themselves (like Walmart’s been doing for years)
  2. Sell-out, or go out of business (to Walmart)

Regardless of what they do they retail industry (as we once knew it) is in serious trouble.

Even Amazon (the king of online shopping) is meeting resistance with their recent cancellation of moving their headquarters to Queens, NY. 

Alexandria Occasional-Cortex has claimed this as a victory.  (Meanwhile, the potential for 30,000 new jobs got flushed down the toilet.)

As usual, dangerous times often presents unusual opportunities (even in the retail sector).

Check out some of our “hidden opportunities” (HERE).

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