July 15, 2024
Written By The Changing Spaces Campaign, Minnesota Chapter Leadership
In today's dynamic market landscape, businesses are increasingly recognizing the economic potential of catering to diverse consumer needs. One often-overlooked yet powerful demographic is individuals with disabilities. The latest research from the American Institutes for Research (AIR) underscores the significant economic influence of this group, shedding light on compelling opportunities for businesses to tap into this market segment.
Economic Influence of People with Disabilities
According to the AIR report, working-age individuals with disabilities wield substantial economic clout:
- Total Disposable Income: Approximately $504 billion annually, comparable to major consumer segments such as African Americans ($501 billion) and Hispanics ($582 billion).
- Discretionary Income:Â Stands at approximately $21 billion, surpassing the combined discretionary income of African American and Hispanic populations.
- Varied Income Levels: Income varies by disability type and state, providing strategic insights for businesses looking to access this diverse market.
These findings highlight not only the purchasing power of people with disabilities but also the economic benefits of inclusivity in business practices. NOT included in the numbers are the family members or friends of the person with disabilities. Â
Pictured Above: A collage of photos showing people of different abilities and ages, some using wheelchairs.
The Impact of Inclusive Companion Care Bathrooms
One tangible way businesses can cater to individuals with disabilities is by investing in companion care bathrooms equipped with powered, height-adjustable adult-size changing tables, also known as universal changing tables. These facilities offer numerous benefits:
1. Enhanced Accessibility: Companion care bathrooms provide a safe and comfortable space for individuals with disabilities and their caregivers. Accessible fixtures such as universal changing tables and personal lifts ensure cleanliness and safety, while the private nature of the family restroom maintains users’ dignity. This enhances the overall customer experience. Power door-assist buttons ensure barrier-free access to restrooms, and thoughtful placement of soap dispensers, sink faucets and paper towel dispensers put them within reach of wheelchair users.
Pictured Above: A companion care restroom with universal changing table, a mom lifting her daughter onto a universal changing table, and a sign that reads, "Family restroom equipped with an adult changing table."
2. Consumer Preference and Loyalty: Research indicates that cleanliness and accessibility of restrooms significantly influence consumer behavior. A study by Bradley Corporation found that 60% of Americans actively seek out businesses with clean restrooms and are willing to spend more money at such establishments. This underscores the potential financial gains of providing inclusive facilities.
3. Reputation and Brand Differentiation: Businesses that prioritize disability inclusion not only meet legal requirements but also enhance their reputation and brand perception. According to Accenture, companies leading in disability inclusion tend to outperform their peers financially. Companies that have improved their inclusion of persons with disabilities over time were four times more likely than others to have total shareholder returns that outperform those of their peer group. The report states that companies that lead with diversity and inclusion see up to 1.6 times more in revenue, 2.6 times more in net income and 2 times more economic profit. Moreover, consumer surveys reveal that a majority prefer businesses that feature persons with disabilities in their advertising and ensure easy access at their physical locations.
Pictured Above: An adult size changing table in a family restroom at PNC Park in Pittsburgh, Pennsylvania.
4. Increased Consumer Engagement: Nielsen's research referenced in the Accenture Getting to Equal: The Disability Inclusion Advantage indicates that individuals with disabilities exhibit higher brand loyalty and spend more per shopping trip than the average consumer. By creating inclusive environments, businesses can foster long-term relationships and increase customer engagement.
5. IRS tax incentives: The IRS provides tax incentives to support accessibility for people with disabilities through two key benefits for businesses. The Disabled Access Credit offers a 50% non-refundable credit to small businesses with earnings of $1 million or less or fewer than 30 full-time employees, allowing them to offset expenses incurred for disability access improvements. This credit can be claimed annually for eligible expenditures related to accessibility enhancements. Additionally, the Barrier Removal Tax Deduction encourages businesses of all sizes to remove architectural and transportation barriers, with a deduction of up to $15,000 per year for qualified expenses that would typically be capitalized. Businesses can claim this deduction separately on their income tax returns. Both benefits can be utilized concurrently within the same tax year, provided the expenditures meet the criteria for each program, offering businesses flexibility in promoting accessibility. These do not apply to new construction. Check with your state if they have tax incentive programs.Â
Conclusion
The business case for investing in companion care bathrooms with universal changing tables is compelling. Beyond regulatory compliance, these facilities open doors to a substantial consumer base with significant spending power. Businesses that embrace inclusivity not only broaden their customer reach but also strengthen their market position through enhanced consumer loyalty and positive brand perception.
As companies adapt to meet the diverse needs of their customer base, those that prioritize accessibility and inclusivity are poised to reap substantial rewards. By creating environments that welcome everyone, businesses not only drive financial growth but also contribute to a more equitable and inclusive society.
In summary, companion care bathrooms are not just about meeting a need; they represent a strategic opportunity for businesses to lead by example and reap the rewards of a more inclusive future.
Pictured above: A young man with a disability smiling at his dad.
