New white paper sheds light on reaching the senior consumer
LONDON — Euromonitor International, a market research company, on Tuesday released a white paper outlining challenges as well as opportunities in reaching the senior consumer.
According to the company, the senior market segment is especially lucrative: The population over the age of 60 years totaled 912 million in 2014 — representing 12.6% of the global population. By the time 2030 rolls around, this market segment will account for 18% — or 1.5 billion — globally.
The white paper also yielded the following key findings:
E-health, home assistance and elderly-friendly services will be driving forces behind technology developments in the senior market. Health will be the most dynamic category through 2030, according to research;
Effectiveness and natural features will remain key in marketing beauty products to seniors;
A desire for luxury goods, with an eye on heritage and craftsmanship, is popular among senior consumers;
The older population will have a negative impact on sales volume in the apparel market; and
Presbyopia, which occurs naturally as a person ages, will be a market driver in eyewear.
To download the complete white paper, click here.