Population ageing is unprecedented,
a process without parallel in the history of humanity...

United Nations, World Population Ageing Report, 2007

There is no debate. We are now witnessing an explosion of ageing across Asia Pacific, and the world, as never before.

Furthermore, these mature consumers have more money, more time and more energy than ever, with an estimated wealth of US$11.3 trillion or 35% of total wealth across Asia Pacific*.

Simply put, the 50+ market provides massive and unique opportunities for new business growth – both now and for the foreseeable future.

In the coming 10 years:

  • 50+ population will grow almost 5 times faster than the total and become the second most populous lifestage segment in APAC
  • The population of 50+ will total almost 1 billion people across the region
  • The more developed Asian countries will have more than 35% of their populations over 50 years
  • 50+ will be the ONLY growing segment in China (under 50’s will shrink by 117 million!)

At the same time, the conventional target of most marketers, the 25 ~ 40 demographic, are living in a far less certain world:

  • Stagnant in numbers
  • Less job security and less loyal
  • Financially pressured
  • Rising healthcare, education and communication costs

So if the opportunity is so evident, why aren’t more companies chasing it?

Throughout history, humans have often denied the obvious until it’s too late.

We can summarize some common reasons for this current business ‘oversight’:

1.HABIT
  • For generations, we have always looked to younger consumers for future brand growth. For the first time in history, we need to consider retention and growth among mature customers. Old habits die hard.
2.UNDERSTANDING
  • Many mid-level executives are too young to appreciate the issues of an older market. We all have experienced being young. But can we imagine what it feels like to retire?
3. IMAGE
  • It’s not considered a ‘cool’ segment nor one that lends itself to creative thinking. Both are terribly wrong.
4. SHORT-TERM-ISM
  • Executives are often focused more on short-term goals than mid-term objectives. Those that wait will lose the “First Mover” advantage.

But smart business leaders ‘get it’. In the Ageing in Asia & Oceana study conducted by AARP in 2007 among business leaders, the vast majority “Very” or “Somewhat” agreed that:

  1. Compared to other issues, the aging of population is important
  2. Older people are an opportunity for marketing and selling products and services

Q: The business community views older people as an opportunity for marketing and selling products and services

SILVER aims to help enlightened companies take “First Mover” advantage in this lucrative sector.