The Rising Influence of Senior Consumers in Changing Business Dynamics

22.09.2023

Let's discover how the age profile of the modern consumer is changing and its impact on business.

👥 Senior citizens are becoming increasingly active and influential in the consumer goods and services market. According to Belstat data, the number of residents above working age has been steadily increasing since 2004. This new generation of "silvers" is striving for financial independence and maintaining an active lifestyle.

💼 Experts are deliberating on how shopping centers, retailers, and restaurants can effectively engage with this customer segment. Senior citizens remain financially capable across various product categories, including medical supplies, children's items, home and garden products, as well as hobby and family leisure items.

🛍️ It's important to note that while interest in "silvers" in the consumer goods market is growing, in certain sectors like fashion retail, this customer category is often overlooked. This presents new opportunities for specialised projects tailored to the senior demographic.

🔮 According to Andrey Aleshkin, a "new turn" in the industry is already evident, and the senior generation is becoming increasingly significant for businesses. "A significant portion of today's and future generations of 'silver consumers' are financially 'comfortable' individuals. They are active users of services. For some segments of the retail market, they are even more interesting. The 'new' generation is getting smaller, while the 'old' one is growing, and businesses cannot afford to overlook this."

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