Profit from the Power of the 50+ Market (excerpt) Kim Walker 9 April, 2014 Beijing © Silver Group
Business opportunities in an ageing China
May 10, 2015
China is one of the fastest ageing countries on the planet. It faces huge challenges as a result. But there are also business opportunities for the wise. This presentation outlines the market potential, why ageing China is different from other 'ageing' societies and deserves a different approach to business opportunities arising.
Also some tips on how to market to the ageing consumer in China.
Also some tips on how to market to the ageing consumer in China.
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Profit from the Power of the 50+ Market
(excerpt)
Kim Walker
9 April, 2014
Beijing
© Silver Group
WHY China?
© Silver Group
2010 - 2020
© Silver Group
6% -2%
44%
0 - 14 15 - 59 60+
+44%
Source: Silver, United Nations World Population Prospects
fastest growing segment
China’s population
ageing China
© Silver Group
12.4
16.9
23.8
2010 2020 2030
Source: Silver, United Nations World Population Prospects
China % population 60 years +
24%
© Silver Group
© Silver Group Source: Silver, United Nations World Population Prospects
oldies rising
12.4
23.8
30.7
37.5
21.9
28.9
18.6
25.9
0
10
20
30
40
2010 2020 2030
China
N. America
Europe
Japan
% pop 60+
© Silver Group
China is bigger
© Silver Group
49%
6%
30%
15%
China
N. America
Europe
Japan
345,613,000 people 60+
Source: Silver, United Nations World Population Prospects
60+ in 2030 = 708,316,000
getting old before getting rich
© Silver Group
Per capita GDP 2012
Source: World Bank
China $6,091
USA $51,749
different spending priorities
© Silver Group
-30 -20 -10 0 10 20
Alcohol + tobacco Clothing
Communications Education
Food and drinks Healthcare
Hotels Household goods
Housing Leisure
Misc Transport
Percentage change of expenditure of 60+ relative to 20-59 (2010)
Source: Euromonitor
the government is taking action
• Average retirement age around 60. Education disparity negates raising of retirement age to keep older workers in the workforce
• Urbanization likely to increase the density of older people in rural areas - Elderly Rights Law – July 2013
• $208 billion stimulus to pensions and basic healthcare - 2009
• ‘health reform program’ - a foundation for universal health care access by 2020
• Listed senior housing as ‘encouraged’ in its 2011 catalogue for guiding foreign investment
© Silver Group
© Silver Group
© Silver Group
China Times Feb 6, 2014
‘age-silo’ market opportunities
© Silver Group
© Silver Group
© Silver Group
“China's domestic efforts are helping drop the price of solar at an astonishing pace -- something that everyone in the solar industry wants. But it's also making it extraordinarily difficult for American solar
manufacturers to compete”.
© Silver Group
The Guardian 2011
China became the biggest solar market in 2013
© Silver Group
0 to $11 billion in 10 years
© Silver Group
• produced in bulk • utility pricing • often low-tech
© Silver Group
© Silver Group
AGE GENDER
WEALTH
LIFESTYLE
SEXUALITY
EDUCATION
ETHNICITY
INCOME
ageing body ageing mind
ageing senses
© Silver Group
physiological ageing
© Silver Group
China 4 – 2 - 1
© Silver Group
Market to older consumers via their adult children
main users of functional milk in China = 50 years and older
© Silver Group
0 ~ 50
51 ~ 65
Mengniu HuanQing
OUR SERVICES Workshops
• Insightful, interactive, fun and actionable workshops that help teams understand the opportunities and challenges of older customers
• Sessions ranging from ½ day introductions to 2-day immersion and ideation programmes
Age-Friendly audit • Using unique tools to evaluate your entire customer journey through the prism of
ageing.
• Enables businesses to identify and remove the barriers between them and their older customers
Research and strategy • Applying research, insights and ideas to devise unique strategies that create a
sustainable competitive edge with the ageing consumer
Speaking • Kim Walker is one of the few global authorities on this subject. A TED speaker and co-
author of a definitive book on the subject, his lively delivery entertains and informs. His internationally awarded keynotes cover a range of related topics.
© Silver Group
SOME OF OUR CLIENTS
© Silver Group
Related Documents
