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Senior Living 2.0 Is Here, and You’re Going to Like Where We’re Headed!

Senior man on a bicycle with his feet off the pedals and laugning while a senior woman rides a bike behind himSponsored by: Discovery Senior Living, Written by: Richard Hutchinson, CEO

I’d like to talk about a one-time phenomenon that’s having a seismic impact on US society and culture, businesses, and the economy, and to be sure, the healthcare and senior living industries. (And don’t worry, because it’s most certainly NOT COVID-19.)

It’s the demographic shift towards an older America, a megatrend that’s being fueled by Baby Boomers reaching retirement age at a rate of about 10,000 every, single day.

Baby Boomers, after all, represent about a quarter of the US population, and perhaps more importantly, control over two thirds of the nation’s wealth. So particularly across industries like senior living, Boomers’ needs, desires and unique consumer preferences will do much to shape what’s to become the “new normal.” In fact, they already have.

Enter “Senior Living 2.0,” as I (and others) have been calling it. It describes the senior lifestyle experience of the future, one that has been custom designed to cater to a generation that demands options and more personalized experiences, rather than just security, comfort and access to healthcare.

I genuinely believe that Senior Living 2.0 is going to permanently alter public perceptions about seniors housing. It’ll also finally erase some of those lingering stereotypes about who “belongs” in senior living communities.

Perhaps equally fascinating, though, has been the generational shift that has not only inspired this new industry model, but in essence, necessitated it. Like most things these days, it all started with technology and the Internet, which have transcended the overall consumer experience in our country and around the world.

Today, companies across virtually every industry utilize detailed customer profiles to deliver a more customized experience…and believe it or not, senior living is right there in the mix, too! That’s evidenced by all the innovative, new lifestyle programs, amenities and design features, and pricing and service options, with each one intended to empower freedom, optionality and resident choice as part of a more personalized “experience” overall.

Senior Living 2.0 is creating a new, higher benchmark for the industry. Providers that don’t jump on board will risk their own survival, and those who are (right now) among the first to deliver a high-quality, resident- and lifestyle-focused experience—as opposed to just providing health care services alongside a place to live—are offering what is quite possibly the most exceptional value in senior living, ever.

Indeed, fueled by Boomers’ ongoing transition into retirement, Senior Living 2.0 has begun, and it’s going to change everything. Truly exceptional lifestyle quality and an equally great value are out there, and those who have yet to see for themselves are bound to be surprised and seriously impressed.

And, for anyone who still believes the old misconceptions that senior living communities are made for folks who are “slowing down,” or that most are run-of-the-mill providers of forgettable food and Wednesday bingo, well, there has never been a better time to look again!

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