Accessible design for investment products could benefit over 1 billion people, opening up a massive potential market for businesses.

Products designed with accessibility in mind can attract a wider audience.‍‍‍‍

Image source:Unsplash/Artificial Photography

Uma Girkar

World Economic Forum Global Shaper Community of Palo Alto

Investing in accessible design can unlock a massive market with high growth potential, benefiting over 1 billion people worldwide.
Accessibility features can enhance usability and attract a wider audience, including seniors and consumers with temporary physical limitations.
Accessibility products can enhance brand reputation, attract loyal customers, and ensure compliance with inclusive legal standards.

In today’s open, inclusive, and socially conscious world, businesses are increasingly recognizing the importance of accessible design. According to the World Health Organization (WHO), more than 1 billion people—about 15% of the global population—live with some form of severe disability.

These individuals make up a massive niche market, accounting for a total of $490 billion in disposable income in the U.S. and nearly $8 trillion worldwide.

However, despite possessing such immense economic power, many packaged consumer products still fail to be fully accessible to people with disabilities—presenting businesses with both a challenge and an opportunity.

While some progress has been made in enhancing digital accessibility for packaged consumer goods—such as increasing text size and improving color contrast on packaging—there is still a long way to go before physical products become fully accessible.

Solutions to Drive Revenue Growth

A survey by the Packaging Corporation of America found that 42% of consumers prefer packaging that’s easier to open. Companies committed to enhancing the practical usability of their products have the opportunity to tap into underserved markets and boost their revenue streams.

A 2020 study by Accenture revealed that companies enhancing product accessibility saw a 28% increase in revenue. This impressive growth was attributed to attracting new customers and boosting satisfaction among existing ones.

In addition to opening up new markets, enhancing the accessibility features of packaged consumer products can also boost their appeal. By considering accessibility in the design process, companies can create solutions that benefit a wider range of consumers.

For example, the easy-tear opening originally designed for people with disabilities also works well for elderly consumers, arthritis sufferers, and anyone who finds traditional packaging inconvenient to use. The broad applicability of inclusive design is backed by research.

The Centre for Inclusive Design found that products designed with accessibility features in mind attract four times more consumers than those without such considerations. This is because enhancing accessibility often improves a product’s overall usability, making it more convenient and user-friendly for people of all abilities.

By focusing on inclusive design, companies can broaden their consumer base, making their products appealing to a wider audience.

Enhance brand loyalty, ensure compliance

In addition to direct economic benefits, companies that prioritize accessible design can also significantly enhance their brand reputation and attract more loyal customers. When consumers see that a business is committed to accessibility, they’re more likely to develop a strong sense of brand affinity, leading to repeat purchases and long-term customer loyalty.

“Consumers are increasingly favoring companies that demonstrate social responsibility and inclusivity. Nielsen’s report reveals that 66% of consumers are willing to pay a premium for products from businesses committed to making a positive social impact.”

A nationwide survey revealed that 92% of consumers are more likely to support companies that actively hire and support people with disabilities. This highlights a strong consumer preference for businesses perceived as inclusive and socially responsible.

Beyond the benefits to marketability and reputation, improving accessibility in consumer products also fulfills fundamental ethical and legal responsibilities. Many countries have already put in place legal frameworks requiring businesses to ensure their products are accessible to all.

For example, the U.S. Americans with Disabilities Act sets guidelines for product packaging and labeling. While the act doesn’t mandate that packaging include specific accessibility features, failing to achieve reasonable accessibility could lead to legal complaints.

Set an example

Similarly, the European Accessibility Act mandates that products within the EU must meet specific accessibility standards, encouraging the use of inclusive packaging. By proactively complying with these legal obligations, companies can avoid potential fines, lawsuits, and reputational damage resulting from non-compliance.

More importantly, by designing accessible products, companies are also actively fostering a more equitable society, ensuring that everyone can fully participate in economic activities.

Some well-known consumer goods packaging companies have already begun taking steps to make their products more accessible for people with disabilities.

Herbal Essences, a brand under Procter & Gamble, is North America’s first mainstream hair care brand to offer tactile markers, helping visually impaired individuals easily distinguish between shampoo and conditioner.

Rare Beauty has partnered with the Casa Colina Institute to develop products that are easy to open and close, making them accessible for individuals with limited mobility. Tommy Hilfiger has launched an adaptive clothing line co-created and designed specifically for people with disabilities, helping them get dressed more effortlessly.

Strategic Advantage

The above cases demonstrate that an increasing number of brands are committing to accessibility design, responding to consumer needs while also confirming the significant business opportunities embedded within this trend.

The reasons for improving accessibility in the physical packaging of consumer goods are clear: companies that invest in accessible product design can unlock new revenue streams, enhance customer satisfaction, and strengthen their brand reputation.

Moreover, considering accessibility in design often leads to innovations that benefit a broader audience—ranging from older consumers to individuals with temporary mobility challenges.

Ultimately, making packaged consumer goods and retail products more accessible isn’t just the right choice—it’s also a smart business decision that will pave the way for long-term success, both in the marketplace and within society.

The above content solely represents the author's personal views.This article is translated from the World Economic Forum's Agenda blog; the Chinese version is for reference purposes only.Feel free to share this on WeChat Moments; please leave a comment below the post if you’d like to republish.

Translated by: Sun Qian | Edited by: Wang Can

The World Economic Forum is an independent and neutral platform dedicated to bringing together diverse perspectives to discuss critical global, regional, and industry-specific issues.

"World Economic Forum"