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The elderly health industry, the dilemma and the way out under the crisis of trust and fierce competition

author:Ruichen Health

With the intensification of the aging trend of the population and the improvement of people's health awareness, the elderly health industry should usher in the spring of development. However, in reality, the industry is facing an unprecedented crisis of trust and fierce competition challenges, and many dealers are experiencing difficulties in new products, conversion and sales.

The crisis of trust is a major problem facing the geriatric health industry. In the past few years, in order to pursue short-term benefits, some unscrupulous businesses have adopted exaggerated publicity and excessive marketing, resulting in a great reduction in consumers' trust in elderly health products. Some elderly people and their families often have doubts when buying health care products, worrying that the products will not work well or have potential safety hazards. This crisis of trust not only affects consumers' purchasing decisions, but also restricts the healthy development of the elderly health industry.

The elderly health industry, the dilemma and the way out under the crisis of trust and fierce competition

Because the market is difficult to do, many people have engaged in vicious competition, and now in the market, everyone is fighting routines and prices. With the growth of market demand, more and more inter-bank enterprises are pouring into this field, and now it is not only competition between peers, but also cross-industry robbery. In order to gain a foothold in the market, some markets have to adopt price wars and other inferior product competition methods, which not only reduces the overall profit level of the industry, but also damages the reputation of the industry.

In terms of innovation, the demand for products for the elderly is more diversified and personalized. However, most of the elderly health products on the market have the problems of serious homogenization and lack of innovation, which is difficult to meet the diversified needs of consumers. At the same time, due to the lack of industry standards and imperfect supervision, some new products lack sufficient market research and risk assessment before launch, which makes it difficult for products to be recognized by consumers after they are launched.

The elderly health industry, the dilemma and the way out under the crisis of trust and fierce competition

Due to the existence of a crisis of trust, consumers tend to be cautious when buying elderly health products, and their acceptance of new products is low. This makes it difficult to stand out in the market and achieve effective conversion, even if the product itself has certain advantages.

Due to the impact of the crisis of trust and competitive pressure, the sales performance of elderly health products is generally poor. In order to increase sales, some companies have to resort to excessive marketing or price reduction promotion, which not only damages the brand image of the enterprise, but also reduces the added value of the product. At the same time, some consumers have the problem of information asymmetry when buying elderly health products, and it is difficult to accurately judge the quality and effect of the products, which further increases the difficulty of sales.

The elderly health industry, the dilemma and the way out under the crisis of trust and fierce competition

In-depth analysis of the causes of these problems, we find that the geriatric health industry has gradually detached itself from the essence of the industry in the development process. The essence of the industry should be to focus on the health needs of the elderly and provide high-quality products and services. However, in reality, some companies pursue short-term profits too much and ignore the improvement of product quality and service. At the same time, some companies also lack brand awareness and cultural construction, which makes it difficult for consumers to trust and identify with them.

In order to solve these problems, we need to return to the essence of the industry, strengthen self-discipline and integrity, improve the quality of products and services, and strengthen market research and product research and development to meet the diversified needs of consumers. Only in this way can the elderly health industry usher in a real spring.