Project Catalyst fills a gap in the market by putting the 50-plus consumer at the center of innovation. By conducting consumer research of new and emerging products with the 50-plus consumer, we help inform developers about how their products and services are working to improve the lives of Americans as they age.
The 50-plus consumer is missing from the earliest point in the design process. As a result, needs go unmet. Project Catalyst | The Power of We inserts the 50-plus consumer at the front end of the process so that new products and services more effectively address their needs, resulting in greater relevance and adoption. And for products already in the market, Project Catalyst contributes to their continuous improvement and ability to improve the lives of Americans as they age.
People over 50 are online and connected, and make use of technology that is intuitive and consumer-friendly. But there is not enough technology that can meet their needs, especially in the health and wellness and the digital health spaces. This is a huge opportunity for the double bottom line. Developers can both provide products that improve the lives of Americans as they age while also increasing revenue. Parks Associates forecasted an aggregate revenue opportunity of $30 billion over the next five years on top of an existing market of roughly $70 billion across nine categories of health and wellness products and services.