The ageing consumer is one of the most profitable yet untapped segment. Every year, billions of dollars are left on the table by companies around the world as the ignore this increasingly influential and affluent group of consumers.
What is the fastest growing yet often neglected consumer group? One that has contributed to a demographic bulge of about 77 million people in the US?
Yes, I’m talking about the Baby Boomers, i.e. those born from 1946 to 1964. Hitting their silver years over the next decade or so, Baby Boomers represent the largest age-related demographic group in the world today. In China alone, it is predicted that the 50+ marketplace will swell to a staggering 525.8 million people by 2025.