The food industry has been somewhat ponderous in responding to the ageing global population. Ben Cooper looks at how food companies can most effectively meet the needs of the growing ranks of older consumers and maximise the commercial rewards on offer.
By Ben Cooper
By definition, population trends concerning people aged over 60 do not crop up overnight, and food companies stand accused of being slow to recognise and respond to this opportunity. "There's an over-fixation on Millennials within food," says Hamish Renton, managing director of UK food and drink consultancy HRA Global. "The older demographic is under-served. Segmenting by life stage is quite sensible and I don't think it's something the food industry does terribly well."
Corporations are evolving their general philanthropy approaches towards supporting causes more tightly aligned with other company initiatives. This reflects a desire to be strategically consistent, purpose driven, and to concentrate giving that produces the most impact. We see this first-hand with our progressive CyberGrants clients. But don’t just take our word for it. There are several industry studies that validate this trend.
The need for corporate giving is off the charts. So do you just give more dollars?
We see your dilemma every single day. More events, more urgency and more distress. But just giving more dollars isn’t necessarily better. Doing it quickly, and with focus on making your dollar go further is what creates impact for you.
View our two-minute video and learn how leaders like you are achieving Agile Social Impact.
How to get the most impact from your grantmaking, volunteer and employee-giving
The shift from single, point in time campaigns to providing a range options results in more giving, engagement, and impact.
We’ve all witnessed it. Technology advancements have given employees access. And access means new ways to give, and not necessarily through work. Concurrently, technology has made organizations more agile, to the extent that companies have completely flipped their philanthropy strategies and made recurring giving a cornerstone of their overall corporate citizenship efforts.
We certainly don’t need to inform you how great the demand is for corporate giving. Our shared world is rife with want and chaos and emergencies. The need is everywhere. Worthy, urgent causes roar up literally overnight. And thankfully, there’s people like you, and organizations like yours, who jump in and help in big ways. Whether through grantmaking, employee donations or volunteer programs, the challenges are the same. How can you best mobilize your resources, generate maximal impact, and deliver that impact as quickly to the point of need?
As a company actively involved with Corporate Social Responsibility for more than 20 years, we’re often asked about significant changes, relative to our clients, that we’ve observed over that span. Interestingly, from our unique and intimate industry lens, the biggest developments have occurred most recently, within the last 18 months or so. Two changes in particular. First, the concept that corporations should be “responsible” to society is now a given.
by Gabe Rissman Co-Founder and President, YourStake.org
I rose to the podium, looked Exxon then-CEO Rex Tillerson in the eye, and spoke. “Why does Exxon fund climate-denying organizations, when you publicly support a carbon tax?” Tillerson deflected the question at the time: “we would never impinge on ALEC’s free speech.” D’oh. Two years later, in July 2018, Exxon ceased funding ALEC, the climate change denying organization I highlighted.
While difficult at the moment, the many conversations with my friends about money inspired me to explore a different path. Conversation after conversation, I started to chip away at what felt wrong about money, and we would talk about their “wish list” when it comes to finance. What came up again and again was the desire to feel smart about money decisions – “whatever I do should be easy to understand, available to all, convenient to do, and make me feel good and empowered.”