Case Study: Data-Driven Location Selection for a New Luxury Assisted Living Development

Background:

A prestigious real estate development company specialising in luxury retirement communities for individuals aged 65 and above, was looking to expand its portfolio with a new development. With a focus on providing upscale living environments tailored to the needs and preferences of affluent seniors, the company aimed to select the most suitable location for its next project. Leveraging data-driven insights, the company was seeking to make an informed decision that aligns with its target demographic’s preferences and ensures the success of the venture.

Objective:

The primary objective of this case study was to utilise data-driven insights to evaluate and compare potential locations for the new luxury retirement community. Specifically, the analysis will consider the following criteria:

• Concentration of individuals aged 65 and above.
• Affluence level of the population, with a focus on households with wealth exceeding £1.5 million.
• Detailed marketing messaging advice tailored to the identified target demographic.

Data Collection and Analysis:

Population Demographics: Utilising demographic data we analysed the concentration of individuals aged 65 and above in various regions or cities under consideration.  Combining this with the wealth distribution data, including household income and asset value, enabled us to identify locations with a higher percentage of potential clients who were likely to consider an assisted living development such as this.

Market Research Analysis:

We were also able to provide valuable insights into the preferences, needs, and expectations of these potential clients regarding retirement living. This data informed the development of detailed marketing messaging tailored to resonate with the target demographic.

Conclusion:

By leveraging data-driven insights, this Assisted Living company has identified prime locations for its new luxury retirement community while crafting marketing messaging tailored to its target demographic.

By selecting a location with a significant concentration of affluent seniors and aligning its messaging with their preferences and aspirations, they are poised for success in their endeavour to create an exceptional living experience for retirees seeking luxury and comfort in their golden years.