A splintered segment of post-middle
age consumers
Mature consumers are a huge market. According to Euromonitor International
data, the global population aged 65+ is forecast to grow to 626 million in 2016 out
of a total global population of 7.3 billion. They
may retire early from salaried jobs and become
entrepreneurs; others earn from hobby-related
activities, cease working or need / wish to
extend their work lives. Spending power may vary,
but these consumers remain a key and growing
consumer segment, opening up many opportunities for manufacturers and retailers.
Marketing strategies include charging lower prices to retirees—already implemented
by tourism hubs, cinemas, clubs and even supermarkets.