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New ICAA report focuses on business opportunities created by population aging

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[Vancouver, BC] What do Google and Hollywood know that most businesses have yet to learn? They know that providing products and services to address the interests, desires, needs and expectations of an aging population is good business.

“Driving many of these business opportunities is active aging,” says Colin Milner, CEO of International Council on Active Aging (ICAA), the industry’s professional association. The active-aging philosophy encourages older adults to live a full and active life, regardless of age or health conditions. “Active aging benefits each individual and also society at large,” adds Milner. “The more people have the opportunity to participate in activities that encourage their health and well-being, in safe and friendly environments, the more they can control health care costs and retain their financial security.”

To help businesses gain a better understanding of the active-aging opportunity, driven by nearly 120 million individuals ages 50 and above living in the US and Canada, ICAA has released a new report entitled “Growth of the active-aging industry in the United States and Canada.”

Where are these opportunities? Recreation and active-adult (seniors) centers, retirement communities, fitness centers, workplace wellness programs, age-qualified housing and livable communities are locations that focus in whole or in part on this population.

“ICAA’s ‘Growth of the active-aging industry in the United States and Canada’ provides a high-level view of the older population, wrapped into a description of key sectors of the active-aging industry,” says Steven Menzel, National Accounts Director at Precor, and sponsor of the report. “This report is a must-read for anyone interested in doing business with the older population.”

The report contains:

  • The size of the population; number of households and residences, age-targeted properties, and wellness and service providers
  • Annual revenue of selected sectors
  • Age-targeted housing types, amenities and design trends
  • Market profiles of selected sectors, including independent living retirement communities, assisted living, continuing care retirement communities, active-adult (seniors) centers and adult day services, fitness centers, parks and recreation and workplace wellness
  • Descriptions of the attitudes and cultural perspectives of three approximate age groups: 45-65, 65-75, and 75 and older
  • Older adults’ attitudes toward successful aging, purchasing, life satisfaction and future activities
  • Social and cultural trends, building and design trends, repositioning for younger-older customers
  • Outlook for housing, community services, livable communities, fitness and wellness centers
  • Definitions of terms, explanations of industry issues, glossary and resources

Older adults have a growing desire to age well. The new attitude toward aging is to view each stage of life as a chapter, with middle age and older ages a beginning rather than an end. How is the active-aging industry responding? As the report states, an ICAA survey of 554 respondents working in retirement communities, seniors centers and wellness/fitness centers revealed that through 2014 they planned to add more wellness activities, classes or programs (69%). The goals were to increase the life satisfaction of older adults (93%), attract new customers or residents (83%), and meet the demand from current customers or residents (61%).

The 136-page report, “Growth of the active-aging industry in the United States and Canada” (Active Aging in America, 2014, Third Edition), blends statistics from federal and private sources with ICAA’s survey data within a narrative that presents the current state of the active-aging industry along with trends and forward-thinking perspectives. The information is valuable for strategic planning and new market development. The report is available from the International Council on Active Aging (ICAA) for US $799.

About the International Council on Active Aging
The International Council on Active Aging® (www.icaa.cc) is the professional association that leads, connects and defines the active-aging industry. ICAA supports professionals who develop wellness facilities, programs and services for adults over 50. The association is focused on active aging—an approach to aging that helps older adults live as fully as possible within all dimensions of wellness—and provides its members with education, information, resources and tools.

As an active-aging educator and advocate, ICAA has advised numerous organizations and governmental bodies, including the US Administration on Aging, the National Institute on Aging (one of the US National Institutes of Health), the US Department of Health and Human Services, Canada’s Special Senate Committee on Aging, and the British Columbia Ministry of Health.

About Precor
Precor (www.precor.com) designs and builds premium fitness equipment for effective workouts that feel smooth and natural. With a passionate focus on ergonomic motion, proven science and superior engineering, the company continually advances the home and commercial fitness industry with breakthrough new product categories, including EFX® Elliptical, Adaptive Motion Trainer® “AMT®” and Preva® Networked Fitness. Precor is a subsidiary of Amer Sports Corporation, the world’s largest sports equipment company, with internationally recognized brands Wilson, Atomic, Suunto, Salomon, Arc’Teryx and Mavic.

For questions:

Contact: Colin Milner, CEO, ICAA
Toll-free: 1-866-335-9777 (North America)
Telephone: 604-734-4466; cell: 604-763-4595

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