Why does Best Buy care about the elderly?
Don’t forget about the old people… because Best Buy certainly hasn’t. The electronics retailer announced its plan to buy GreatCall for $800 million. Who is GreatCall? They are the company that makes Jitterbug cell phones – you know, the ones with the large buttons and bright screens. GreatCall also makes medical alert devices that detect falls (but don’t confuse them Life Alert).
Here’s why this is a good move… because the health and eldercare markets are bound to explode with all of these soon-to-be geriatrics walking around. In fact, GreatCall has nearly 1 million subscribers and $300 million in annual sales. GreatCall products come with medicine reminders, fitness trackers, health tips, and personal operators to help with daily tasks.
As much as old people resist technology… it could help them live independently for longer. And Best Buy believes this trend is something others have entirely ignored. The company even launched Assured Living, a home monitoring system that allows caregivers to track a person’s day. Cheers to keeping mom and dad out of the nursing home for a little while longer…