Start-ups like Seniority Emerge as Pioneers in Catering to the Evolving Needs of India’s Ageing Population

As India’s ageing population, with approximately 12 crore people aged above 60, continues to grow at 4 percent year-on-year, start-ups are recognizing the untapped potential in addressing the diverse needs of this demographic. Beyond the conventional focus on medical and home care, entrepreneurs are venturing into curated product offerings tailored for seniors, creating a niche market that aligns with the evolving preferences of India’s senior citizens.

In the realm of start-ups catering to the ageing population, Seniority stands out as a pioneer. Co-founded by Ayush Agrawal and Tapan Mishra, Seniority takes a unique approach by curating and selling products specifically designed for senior citizens. The start-up, launched under RPG Group’s RPG Ventures, has garnered attention and investments, totalling $6 million.

The genesis of Seniority’s vision can be traced back to an incident at one of its stores in Pune. An 80-year-old gentleman, accompanied by a family of seven to eight people, walked in and declared that he preferred shopping at Seniority because it offered products aligned with his needs. This incident encapsulated the essence of Seniority’s mission—to enhance the shopping experience for seniors and bridge the gap in the availability of products tailored to their requirements.

“The 60-plus age group is growing twice as fast as the overall population. Combined with factors such as senior citizens becoming more tech-friendly and willing to spend on themselves, as well as rising disposable incomes and pensions, we saw an opportunity that was ripe for the taking,” notes Ayush Agrawal, co-founder of Seniority, emphasizing the market dynamics that influenced their strategic entry. The senior citizens’ market is witnessing a transformation, with tech-savvy elders willing to invest in products that enhance their lifestyle and well-being. With a focus on creating a comprehensive shopping destination, Seniority has not only ventured into physical stores but also established a robust online presence, processing more than 1,200 orders a day, with an average order value ranging from ₹1,400 to ₹1,500.

Rahul Upadhyay, based in Mumbai, recognized the pressing need for organizations catering specifically to the elderly, leading to the inception of Senior Shelf in 2013. Fuelled by personal experience—spending three hours searching for a blood pressure monitor for his mother in Patna—Upadhyay established Senior Shelf as a dedicated platform to sell products tailored for senior citizens.

India, often acknowledged as a young country, harbours the second-highest population of older individuals globally. Senior Shelf aims to bridge the gap in the market by offering a curated selection of products that cater to the diverse needs of the elderly. Rahul Upadhyay, the founder, envisions the platform as a solution provider addressing the significant requirements of India’s ageing population.

The shift in demographics, coupled with changing consumer behaviour among senior citizens, has created a burgeoning market for products that enhance the quality of life for the elderly. Start-ups like Seniority and Senior Shelf are at the forefront of this paradigm shift, recognizing the potential to not only meet the existing needs but also shape the future of senior-focused products and services.

As these start-ups continue to innovate and tailor their offerings to the evolving preferences of India’s senior citizens, the landscape of products and services for the elderly is poised for further expansion. With a proactive approach to understanding and addressing the unique requirements of the ageing population, these start-ups are not only meeting a market need but also contributing to the empowerment and well-being of India’s senior citizens. The journey towards creating a senior-friendly ecosystem is underway, and start-ups are playing a pivotal role in defining its contours.