GenS, founded by Meenakshi Menon and supported by industry figures Bhaskar Das, Dilip Cherian, Amit Bose, Namita Roy Ghose, Indu Kak, Ramesh Menon, and Jignesh Barasara, is set to launch in July. The platform aims to address the needs of the over-60 demographic beyond healthcare, focusing on combating loneliness and encouraging personal growth. The GenS app will offer services for physical, mental, emotional, financial, and social well-being, challenging traditional views on ageing.
“I realised there are stereotypes about older people, such as the belief that they don’t need technology and often feel lonely when their children move away for work or studies. We wanted to break these stereotypes and empower older individuals by building a community that provides comprehensive support and connections in one place,” Meenakshi Menon, founder, GenS, told BrandWagon Online.
The senior population is increasing globally, with projections indicating that by 2050, there will be more people over 60 than children under 15. In India, those aged 60 and above currently represent over 10% of the population (149 million), expected to rise to 21% (340 million) by 2050, according to the India Ageing Report by UNFPA and IIPS. Despite this growth, brands and advertisers mainly target younger demographics, overlooking the spending power of the older population.
“We aim to ensure that our community is healthy. Many people in this age group suffer from diabetes and hypertension, which are reversible conditions. They may not realise that with the right combination of exercise, lifestyle changes, and diet modifications, they don’t need to suffer from these conditions. Our plan is to bring together all the relevant information, technology, and solutions on one platform, making it easy for people to access and manage their health effectively,” Menon said.
The company aims to address the needs of its customers. The price of the subscription is about Rs 100 per month, to make the platform more accessible.
Twice a week, the platform hosts a comedy show, extending an invitation to all to come and enjoy entertainment. As per the company, subscription which is priced at Rs 100 a month, members can access up to eight comedy shows, offering evident value without requiring extensive persuasion. The platform aims to serve as a comprehensive hub for all essential services, providing convenience and value to its users.
“Regarding marketing, we have two main goals. First, to reach people like me, aged 65 and older, who recognise the need for these services and will sign up and second are younger people who will help their parents and guardians to sign up for this. We are focused on key areas such as health, fitness, exercise, and finances. These areas are crucial because people often retire at 60 but live until they’re 90. Proper financial planning is essential to fund their lifestyle and manage increasing medical expenses during this period,” Menon highlighted.
The platform collaborates with investment experts in the country, including partners like Zerodha for financial education. Partnerships extend to travel with Thomas Cook and Breakaway, and estate planning with WillJini, EasyInherit, and Yellow. These collaborations provide comprehensive support to users across essential life aspects.
“Our partners understand that we’ll bring in customers, but it’s crucial to treat them with care and make them feel special. We want our older customers to realise they are loved, valued, and appreciated for their contributions to society, their families, and loved ones,” Menon concluded.