This was my opening statement on the podium at this year’s LEADERS SUMMIT. (Strangely nobody challenged me).
Last Sunday however, I experienced an event that tells me villages may become irrelevant within three years, not five.
I was visiting my daughter, a mother of two under the age of 20 months, and she had just installed a Google Home. They were talking to each other.
Request: “OK Google, play some jazz”.
Google Home “I have assembled a collection of Miles Davis. Is that OK”.
Request: “OK Google, how long will it take to drive to Balmain if I leave now”.
Google Home: “Allow 40 minutes over the Spit Bridge and Mosman”. (Correct answer to the minute)!
Why am I telling you this?
Based on close to $1M worth of research we have conducted over nine years, we know that customers buy into retirement villages because they have experienced one of three events: a physical, financial or an emotional event.
The value proposition of villages is that by taking action to satisfy the discomfort of these event brings ‘contentment’.
“I had a problem; I took action; I now have a plan in place for the rest of my days”. Contentment.
Villages deliver with a safe environment, a lower housing entry cost and a built-in community, overseen by a steadying influence, being the village manager.
My hypothesis is that a standard apartment will be able to deliver the same proposition, or even better.
And the cornerstone is technology – with Google Home (and Amazon Echo) now accelerating this support and connectivity, at a price of just $159.
Read more at https://www.theweeklysource.com.au/retirement-villages-run-risk-becoming-irrelevant-within-five-years/