Elderly Customers’ Open Innovation on Smart Retirement Village: What They Want and What Drive Their Intention to Relocate?

Abstract

The rapid growth of the ageing population has increased the attention paid towards the provision of retirement village (RV). RV is a new form of housing on the ageing landscape that provides a full range of care from independent to assisted living to meet the diverse needs of the elderly. Numerous studies conducted in the past examined factors that influence elderly intention to relocate to the RV and the intention to adopt the smart home technology. The current study focused on the intention of elderly to relocate to the smart retirement village (SRV) (i.e., RV with the smart home technology). A customer-driven open innovation survey was conducted to solicit opinions from the elderlies. This paper applied the Theory of Planned Behavior to examine such intention among the elderly in Malaysia. The types of smart home technology preferred by the elderly at the SRV were determined. The results from the multiple regression analysis (N = 305) indicated that attitudes, social norm, and perceived behavioural control contributed significantly to the elderly intention to relocate to the SRV. Further investigation revealed that 83% of the elderly choose the smart emergency contact system as the most important smart home technology to be included.