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Challenges and 
Opportunities in Targeting 
the Senior Consumer
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© EUROMONITOR INTERNATIONAL 2015
CHALLENGES AND 
OPPORTUNITIES 
IN TARGETING THE 
SENIOR CONSUMER
© EUROMONITOR INTERNATIONAL 2015iv
1 LATER LIFERS SWELLING INTO 
 A CRITICAL DEMOGRAPHIC
3 NEXT WAVE OF TECH DISRUPTION
The elderly as late tech adopters
E-health, home assistance and elderly-friendly services 
to drive next stage of tech development
The Internet as a positive and negative lifestyle influence 
7 PRESBYOPIA: AN EMERGING MARKET DRIVER 
 IN EYEWEAR
The new market audience
White space in contact lens
New opportunity in spectacles
The bottom line
10 AN OPPORTUNITY FOR LUXURY GOODS
Wealth and luxury spend in silver consumer weighted 
towards the developed markets
Silver consumer in emerging markets
Silver consumer offers new avenues of future growth 
for luxury goods
CONTENTS
Contents
© EUROMONITOR INTERNATIONAL 2015 v
14 TIME TO TARGET FASHION’S FORGOTTEN 
 GENERATION
Not catered for and starting to speak out
Less is more for the older consumer
Thinking chic rather than trendy
Making shopping an enjoyable experience
The practicalities of getting old
Marketing is a tricky business
Plenty of long-term potential
18 TARGETING THE BEAUTY EVOLUTION FOR 60+
Anti-agers are not the most frequently used beauty 
products by over 60 year olds
Ready to spend, but on what? 
The most brand loyal consumer base
22 DEMOGRAPHICS DEFINE THE FUTURE 
 OF GARDENING
The young of today, the elderly of tomorrow
25 INCONTINENCE IN LATIN AMERICA: 
 OPPORTUNITIES
The demographic factor
Income thresholds
Channel opportunities
A future of opportunities
Contents
© EUROMONITOR INTERNATIONAL 2015vi
30 JAPAN: LEARNING FROM AN “OLDER” MARKET
Learn to adapt core competencies
Little changes for convenience offer big opportunities
Less can be more
A consumer segment “new” to premium and leisure
Bridging isolation and responsibility
Prepare for the future by understanding Japan now
34 CONCLUSION 
What does the Later Lifer want? Health, family and leisure 
Spending plans
37 ABOUT EUROMONITOR INTERNATIONAL
© EUROMONITOR INTERNATIONAL 2015 1
The global population of over 60s – Later Lifers – stood at 912 million in 2014, 
representing 12.6 percent of the total global population. It is projected that 
by 2030, this demographic will account for 18 percent of the total population, 
reaching 1.5 billion. The growth in the share of Later Lifers is rapid, driven 
by falling fertility and increases in life expectancy. Global growth is forecast 
to be 39 percent between 2014 and 2030.
The highest number of Later Lifers can be found in Asia Pacific, where 
in 2014 there were 508 million people over 60. Much of this can be attributed 
to China, which has the largest Later Lifers population in the world, at 245 
million in 2014. China is also the most rapidly growing ageing population, 
with the number of over 60s forecast to increase by over 46 percent between 
2014 and 2030.
Growth in the Later Lifer demographic creates a number of challenges, 
as countries see the number of non-workers increase while the number 
of workers supporting them decreases. These challenges are particularly harsh 
in developing markets such as China and India, which still have a young 
and growing economy, and lack the resources and welfare systems with which 
to support these changes.
While China has the largest Later Lifer population, it is Japan that has 
the oldest population, with a massive 33 percent of the population aged over 
60. Japan acts as an indicator and model of the impact of this demographic 
shift, and highlights the effects of various methods of governmental 
intervention. Japan has managed its difficult demographic lottery well, with its 
elderly people healthy and relatively financially comfortable, although younger 
generations are carrying a significant burden.
LATER LIFERS SWELLING INTO 
A CRITICAL DEMOGRAPHIC
Later Lifers sweLLing into a CritiCaL demographiC
© EUROMONITOR INTERNATIONAL 20152
Western Europe also has a number of older populations, with Germany just 
overtaking Italy in 2014 in this regard. While most developed markets are 
relatively old, the US remains quite young, due to high levels of immigration.
It is not surprising, given life expectancies, that companies in most 
markets should be focusing more on the younger end of the Later Lifer age 
groups – under the age of 70 – accounting for around 40-50 percent 
of the overall demographic. This age group tends to be healthy and active, 
while the incidence of physical and mental deterioration unsurprisingly 
increases among the older age groups. The younger over 60s – those under 
68 – are also members of the baby boomer generation, who tend to be keen 
to embrace new products and experiences, such as travel.
Ageing Population by Key Country 2014 and Growth 2014-2030
Source: Euromonitor International
Note: Bubble size: total number 2014 (‘000)
This white paper draws together key takeaways for the growing demographic 
of Later Lifers from Euromonitor International’s expert analysts, ranging 
from technologies to apparel and personal care specialists. We will address not 
only the impact on industries around the world but also regional implications 
spotlighting South America and Japan.
GINA WESTBROOK
strategy Briefings director
euromonitor international, UK
Chart data - Ageing Population (over 60s) by Key Country 2014 and Growth 2014-2030
% growth 201Total number (‘000) % total pop
China 46.2 244,895 18
India 42.8 106,456 8.4
Japan 7 42,067 33.1
Australia 36.5 4,740 20.2
Poland 20.6 8,251 21.4
Brazil 44.2 23,258 11.5
South Afric 26.5 4,632 8.7
USA 29.8 64,243 20.2
France 21.9 15,659 24.4
Germany 22 22,010 27.3
Italy 21.7 16,630 27.2
Spain 26.6 10,850 23.3
United King 26.6 14,742 22.9
Source: Euromonitor International
Note: Bubble size: total number 2014 (‘000)
China
India
Japan
Australia
Poland
Brazil
South Africa
USA
France Germany
Italy
Spain
United Kingdom
-10
0
10
20
30
40
50
60
-2 0 2 4 6 8 10 12 14 16
%
 g
ro
w
th
 2
01
4/
20
30
% total population
© EUROMONITOR INTERNATIONAL 2015 3
Technology and the Internet have successfully conquered the hearts 
and minds of a large cross-section of the global demographic, in particular 
kids, teenagers, young professionals through to consumers aged in their 
mid-50s. However, the over-65 segment remains a difficult market to crack 
for technology vendors and digital service providers, as levels of IT literacy 
among this group are lower. This group has greater mistrust towards online 
transactions and is the last to adopt new technologies. Nonetheless, 
as the Internet of Things begins to connect households beyond standard tech 
devices and the global digital landscape expands beyond entertainment 
and e-commerce, the elderly can become one of the major beneficiaries 
of disruptive information and communications technology (ICT) trends, 
unlocking sizable opportunities as a result.
The elderly as late tech adopters
As technology continues to move at a more rapid pace, the elderly can 
struggle to keep up with the latest innovations due to their lower level 
of tech-friendliness and social media participation. A 2013 survey by the Pew 
Research Center found that only 77 percent of Americans aged 65+ owned 
a mobile phone and only 47 percent had access to a broadband Internet 
connection, compared to 91 percent and 70 percent respectively for Americans 
aged 18-64. According to the UK’s Office of National Statistics, three out 
of every 10 people aged over 65 have neverused the Internet as of 2014. 
In developing economies, tech penetration among the elderly is significantly 
lower still. 
NEXT WAVE OF 
TECH DISRUPTION
next wave of teCh disrUption
© EUROMONITOR INTERNATIONAL 20154
Digital Penetration in the USA by Age Group: 2013
Source: Euromonitor from Pew Research Center
Some of the major reasons cited by seniors for their limited 
tech-savviness include: 
 • Many have physical conditions or health problems that make it difficult 
to use new technologies. Bad eyesight, poor coordination and memory 
issues are just some of the physical obstacles.
 • A large proportion of the elderly require greater assistance when it comes 
to using new devices and Internet services, with governments often 
forced to launch localised help services to assist greater tech adoption.
 • Many seniors still harbour somewhat sceptical attitudes towards 
the potential benefits of technology, believing they are better off 
staying offline.
 • Affordability is another barrier. In both developed countries 
and the BRIC economies, the 65+ age bracket recorded the third lowest 
average gross income of all age groups in 2014. Unlike the 15-19 
and the 20-24 brackets, the only ones with a smaller income, seniors 
do not have a financial parental support structure in place. 
Two bars (Bar1 template)
Aged 18-64 Aged 65+
Mobile Phon 91 77
Internet 86 59
High-Speed 70 47
Nigeria 0.9 -0.8
Morocco 1.9 1
Egypt 2.8 1.3
Iran 12.6 14.2
Algeria 21.3 18.9
UAE 22 27
Saudi Arabi 28.3 28.3
Kuwait 43.3 49.9
Stacked bars (BarStacked1 template)
Stack 1 Stack 2 Stack 3
1998 15 10 10
1999 14 8 8
2000 15 7 7
2001 16 7 7
2002 17 8 8
0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 100.0
Mobile Phone
Internet
High-Speed Broadband
% of Population
Aged 65+ Aged 18-64
next wave of teCh disrUption
© EUROMONITOR INTERNATIONAL 2015 5
E-health, home assistance and 
elderly-friendly services to drive 
next stage of tech development
Digital companies have ploughed most of their marketing and development 
resources into connecting the mainstream audience, with more than 
one-third of the global population becoming regular Internet users in 2014. 
Yet as telecom revenues stagnate, with global real annual growth of only 0.4 
percent in 2014, on the back of cheaper services and greater competition, 
companies are looking to make inroads into new, under-tapped segments. 
The elderly consumer is becoming a much more attractive proposition, despite 
the difficulties of reaching this demographic.
The key to unlocking elderly digital consumption is to appeal to the core 
needs of a senior. VoIP service Skype was one of the first online services to see 
huge uptake among the over-65s because it marketed its offering as one that 
connects seniors with friends and family, thereby overcoming mobility issues. 
The next wave of tech disruption is set to tap directly into the basic 
requirements of the senior:
 • Health will be one of the most dynamic consumer expenditure 
categories through 2030, as public services struggle to sustain 
a longer-living populace. Online solutions can reduce inefficiencies 
and reach the outlying members of society, saving on labour costs 
and physical infrastructure. The UK, for example, has been able to track 
a reduction in emergency room visits by 20 percent through the use 
of a telehealth monitor. With governments keen to implement digital 
solutions and private firms aware of the lucrative market potential, 
e-health will be a booming market going forward. The European 
Commission has calculated that in 2020 the EU e-health market alone 
will be worth €30 billion.
 • The Internet of Things, which enhances connectivity between home 
devices and the web, is improving the potential of assisted living 
technologies. For example, GiraffPlus, an EU-funded project, consists 
of a tablet screen attached to a wheeled cart that can be controlled 
remotely to provide virtual caregiving. This level of assistance can range 
from anything as simple as bringing medicine or contacting relatives 
in case of emergency.
next wave of teCh disrUption
© EUROMONITOR INTERNATIONAL 20156
 • Less technically complex social tools are also making a breakthrough. 
Online dating services for the elderly are increasingly grabbing a larger 
share of the digital dating market. Meanwhile, more elderly consumers 
are logging on to book holidays, purchase insurance and perform online 
banking transactions on the web. 
The Internet as a positive and negative 
lifestyle influence 
Internet use and tech adoption will certainly continue to rise among 
the over-65s, in tandem with a global Internet penetration rate that will reach 
more than half of the population by 2030. After all, most future seniors would 
have grown up with the Internet as habitual users. Yet whether the Internet is 
improving the lifestyles of the elderly or not is a complex debate. 
An April 2014 study by the US Health and Retirement Survey focusing 
on 22,000 elderly Americans suggested that the use of the Internet among 
the elderly can reduce the chances of depression by more than 30 percent 
by improving communications channels and access to information. 
By contrast, a report published by the UK’s Friends of the Elderly charity 
in August 2014 concluded that a growing shift from offline points to online 
platforms by banks, utility companies, shops and community groups will mean 
that the number of older people feeling lonely will rise by 40 percent by 2030. 
The tentative hypothesis is that fewer opportunities to leave the home will 
create a “glass prison.”
Resolving potential issues of both depression and loneliness is an interesting 
market segment in itself, with online-based solutions likely to offer offline 
activities that can alleviate such symptoms. 
PAVEL MARCEUX
technology, Communications and media specialist
euromonitor international, UK
Connect via LinkedIn
© EUROMONITOR INTERNATIONAL 2015 7
Presbyopia is the progressive inability to focus on near objects and a prevalent 
issue amongst senior citizens. It sets in as one ages, even for those with perfect 
vision. For a larger proportion of the senior population who struggle 
with presbyopia, the solution entails carrying separate glasses for reading 
and distant vision. At present, the market for progressive spectacle lenses 
and multifocal contact lens is under-penetrated, due to image consciousness 
or the lack of resources and awareness.
The new market audience
The senior population suffering from presbyopia tends to have more 
challenging prescriptions to fit, usually requiring both distance and near 
correction and changes as presbyopia advances with age. 
As a person ages, he or she has to grapple not just with the onset of presbyopia, 
but also a variety of medical conditions such as diabetes and cataracts that can 
also cause changes to vision. Many senior consumers who either did not require 
visual aids previously or have been used to single vision spectacles, do not get 
accustomed to progressive lenses as they often come with lines that separate 
their field of vision at various distances.
For presbyopia patients who choose contact lenses, “wearing experience” have 
been the main area of gripe. Comfort is an important factor in contact lens use, 
as they face the challenge of deteriorating tear film and consequently much less 
comfort in contact lens wear. 
PRESBYOPIA: AN EMERGING 
MARKET DRIVER IN EYEWEAR
presByopia: an emerging marKet driver in eyewear
© EUROMONITOR INTERNATIONAL 20158
White space in contact lens
Leading contact lens manufacturers such as Johnson & Johnson and Bausch 
& Lomb have identified demand for presbyopia solutions as the next major 
emerging market. At present across mostbrands, the unit price of multifocal 
contact lens is 1.5 to 1.8 times that of spherical lens, but take up rate is low 
amongst spectacle wearers. To capitalise on growth for the existing contact lens 
patient base, it is imperative to provide technology upgrades for presbyopic 
patients such as coming up with daily disposable multifocal lenses comprising 
of advanced materials such as silicone hydrogel to increase oxygen permeability. 
Daily disposable lenses made of silicone hydrogel for presbyopia is a white 
space of sorts, where contact lens players have some room to manoeuvre 
in the increasingly competitive contact lens industry. Currently, out 
of the four major contact lens players, only CooperVision has such a product 
in its portfolio. Clariti 1-day multifocal was obtained through CooperVision’s 
recently completed acquisition of Sauflon Pharmaceuticals in 2014. The only 
other major announcement of a similar product is from Johnson & Johnson, 
who intends to launch Acuvue 1-day Moist for Presbyopia in 2015.
Beyond the existing contact lens patient base, the presbyopic market offers 
a broad base of new contact lens prospects, mostly those who previously may 
have relied solely or mainly on spectacles for vision correction.
New opportunity in spectacles
Looking at the US, which is the largest eyewear market globally, Euromonitor 
estimates that progressive lens made up only 30 percent of total retail value 
sales of all spectacle lenses. This is a small percentage given the high unit 
price of progressive lenses. The percentage sales have also held steady over 
the past four years despite the rapidly ageing US population, an indication that 
progressive lenses are still relatively under penetrated.
A new category of spectacles, the adjustable variable focus lenses, is worth 
mentioning for its innovative way of addressing concerns that people 
with presbyopia may have regarding appearance, convenience, field of vision 
and fluctuating vision needs.
presByopia: an emerging marKet driver in eyewear
© EUROMONITOR INTERNATIONAL 2015 9
Adjustable variable focus glasses are essentially glasses with various vision 
distance prescriptions. As a person’s vision requirements change with usage 
occasion, age and medical condition, the focus of the spectacle lens can be 
adjusted either by changing the placement of several spectacle lenses, or by 
an advanced technology that senses the eye movement. Without the need to 
switch glasses between tasks, there is no longer the need to carry several pairs 
of glasses, or to deal with a spectacle that has a limited field of vision for close 
and distant vision.
Currently, Adlens is the only major company in this category. Other 
competitors such as Superfocus and Pixel Optics, who manufactured EmPower, 
have since ceased operations. While the potential of adjustable variable focus 
lenses is worth noting, there are significant barriers to overcome. The first being 
the hefty cost of manufacturing passed on to the consumer; the second being 
the bulky frame and lack of aesthetic appeal, meaning that such spectacles 
would mainly appeal to the niche technology crowd. 
The bottom line
The ultimate goal for eyewear players would be to develop a breakthrough 
solution that simplifies the technology and manufacturing of presbyopia visual 
aids, thereby lowering unit prices. Cost is a major consideration, especially 
for senior citizens who have fluctuating vision requirements and hence higher 
replacement rates. While there is no single best solution, it remains a fact that 
advances in lens material and coating technologies, no matter how incremental, 
or even a development of a new product category altogether, would benefit both 
the eyewear industry and the senior population.
CHLOE WU
personal accessories and eyewear industry analyst
euromonitor international, singapore
Connect via LinkedIn
© EUROMONITOR INTERNATIONAL 201510
According to Euromonitor’s latest data in 2014, there were 5.3 million people 
in the world aged 65+ with an annual gross income of US$150,000+ that 
represents the highest income group. As the ageing trend marches on, 
we predict that this high-income population will increase by a massive 140 
percent to reach a global population of 7.4 million. This means the silver 
consumer will remain a key growth area for investors. While the challenges 
of this generation are clear in terms of the growing burden on governments 
for healthcare and pension provisions, as well as the labour force that will likely 
have to contribute higher taxation to fund this, an expanding wealthy older 
population also presents new prospects especially for the luxury goods industry. 
Understanding the age structure of high-income earners in both developed 
and emerging markets is paramount to success. Our latest data shows large 
disparities when comparing the age structure across the global regions. 
In the emerging countries, the population in the top income bracket mainly 
comprises people in their 40s. This is significantly younger than in advanced 
economies such as Western Europe and North America where people in their 
50s and 60s make up the majority of wealth.
Wealth and luxury spend in silver 
consumer weighted towards 
the developed markets
Whilst the USA has the biggest population of high-income earner ages 65+ 
by far reaching 2.2 million in 2014 or 40 percent of this income population, 
the biggest standout region is Western Europe, where people aged 65+ actually 
make up the largest age group in the population with an annual gross income 
of $150,000+. This share in the top income bracket is expected to rise even 
further in the period through to 2030 and is set to shape consumption in many 
luxury sectors.
AN OPPORTUNITY 
FOR LUXURY GOODS
an opportUnity for LUxUry goods
© EUROMONITOR INTERNATIONAL 2015 11
Belgium leads Western Europe with the highest proportion of elderly 
people in the population with an annual gross income of $150,000+. Turkey, 
on the other hand, has the lowest share of elderly people in the top income 
bracket. In 2014, only 0.1 percent of the Turkish population with an annual 
gross income of $150,000+ was aged 65 and over.
High-earning people aged 65+ in Western Europe are often retirees – 
or top professionals coming up to retirement – who receive their income 
from a portfolio of investments including pensions, property and financial 
instruments. Western Europe’s high-income elderly typically spend 
on themselves through luxury goods and their hobbies. Compared 
with younger households, households headed by 30-39 year-olds, typically 
with young children, elderly households overall frequently spend significantly 
less on housing and on education meaning they also have much higher 
disposable incomes to spend on luxury goods and other discretionary items. 
This is mainly because many older people tend to own their dwellings, 
thus incurring neither rents nor mortgage loan repayments, whilst they also 
do not have young children to support still in education.
Their high share in the top income bracket indicates great opportunities 
in a wide range of luxury goods sectors from fine wines, champagne and luxury 
spirits to art and antiques. They tend to be loyal to their chosen luxury brands 
that have stuck with them through the years and generally know what they 
want. They are also characterised by the prioritisation of premium quality. 
Whilst luxury goods and services of premium quality are markers of status 
and success, for this age group, products that are potentially sound investments 
have a greater pull factor. Therefore, the demand for luxuries that talk 
of heritage and craftsmanship are huge among this consumer group.
Luxury goods business and investment strategies aimed at Western Europe’s 
top-earning elderlypeople can be devised for the long term, as the share 
of the 65+ group among the top income bracket will continue to rise. 
Euromonitor International forecasts that by 2030, this demographic will have 
grown by 100 percent and will make up 25 percent of all Western Europeans 
earning an annual gross income of $150,000 and above. Whilst this is set 
to be the slowest growth in percentage terms across all global regions, 
Western Europe will still add an additional 2.3 million people to this age group, 
making it the second fastest growing in actual terms behind North America 
at +3.5 million people.
an opportUnity for LUxUry goods
© EUROMONITOR INTERNATIONAL 201512
Silver consumer in emerging markets
Although developed markets account for the lion share of people aged 65+ 
with an annual gross income of $150,000+, this population in the emerging 
countries has been rising significantly.
Collectively, the six emerging markets among the top 25 countries saw their 
share of people aged 65+ with an annual gross income of $150,000+expand 
healthily by 39 percent in the last five years.. Reflecting the high concentration 
of income, these countries also have some of the largest and fastest growing 
luxury markets in the world.
China has the highest number of high-income populations in this age group 
among all emerging market economies and the eleventh highest globally. 
Other emerging economies that also saw a robust expansion in people aged 
65+ with an annual gross income of $150,000+ since 2009 included Israel, 
Kazakhstan, Indonesia and Uzbekistan. Reflecting the high concentration 
of income, these countries also have some of the largest luxury markets 
in the world.
Whilst this high-income 65+ age bracket accounted for only 5 percent 
of the emerging markets population with an annual gross income over 
$150,000 in 2014, we will see their share almost double in total high-income 
population rising to 8 percent by 2030. This will still be a relatively small 
proportion, but a significant rise nonetheless as high earners in their 40s 
today will have moved on to join the 65+ age group by 2030. Luxury businesses 
looking to target these high earners will therefore need to pay greater attention 
to this consumer segment over the coming years.
Silver consumer offers new avenues 
of future growth for luxury goods
Recognising and unleashing the potential of the silver consumer is vital 
for many luxury brands and retailers given the trend of population ageing 
and where new avenues of growth are urgently needed. Elderly consumers 
worldwide are still under-served, even though a significant proportion of their 
income is available for discretionary spending and they want to spend rather 
than save. 
an opportUnity for LUxUry goods
© EUROMONITOR INTERNATIONAL 2015 13
Luxury brands and retailers need to look at ways to better target this growing 
consumer group, drawing them into the industry. Some players have found 
this challenging because luxury goods are an ageless industry in terms 
of product design. A possible way forward could be through better advertising 
and media coverage. Brands such as Dolce and Gabbana and Celine have 
done just that, by placing elderly models in their fashion campaigns. 
In an industry where fashion models are getting younger and older women are 
consistently overlooked, these ad and fashion campaigns have been a brave 
and powerful move. 
At Euromonitor International, we argue that even in sectors where elderly 
consumers underspend such as technology, many opportunities still exist 
for businesses that can target and market successfully to older consumers. 
Luxury brands and retailers that understand this will be able to communicate 
effectively with the silver consumer to seize the opportunities of this market 
segment and gain long-term success.
FFLUR ROBERTS
head of Luxury goods research
euromonitor international, UK
@Fflur | LinkedIn
© EUROMONITOR INTERNATIONAL 201514
In addition to the greater number of older people, the over 65s in developed 
economies are the fittest and most active in history, thanks to healthy 
and plentiful eating, good medical care and an active lifestyle. As a result 
of these lifestyle and attitude changes, being over 65 is no longer considered 
being over the hill, and this shift brings with it both opportunities 
and challenges for apparel retailers. 
Not catered for and starting to 
speak out
While there are a number of examples of apparel retailers catering for older 
women - it is fair to say that on the high street, far more attention is paid 
to the younger generations. While fast fashion stores target the young 
in every shopping mall and city centre, stores aimed at older generations are 
conspicuous by their absence. 
However, the lack of fashion for older people on the high street has gained more 
press attention in recent years, specifically because these fashion-conscious 
older consumers are starting to speak out about their needs not being met. 
UK newspaper the Guardian has a fashion column, The Vintage Years, written 
by the anonymous ‘Invisible Woman,’ which often bemoans the lack of choice 
on the high street.
Although no-one is expecting the likes of Topshop and New Look to suddenly 
launch an over 65s line, given the long-term changes to demographics 
and the eventual influence these will have on the apparel market, it would be 
short-sighted for major apparel retailers not to at least consider branching 
out and enhancing their offerings for the older consumer as a possibility 
for future development. 
TIME TO TARGET FASHION’S 
FORGOTTEN GENERATION
time to target fashion’s forgotten generation
© EUROMONITOR INTERNATIONAL 2015 15
Less is more for the older consumer
The primary difference between younger and older consumers in terms 
of apparel shopping is a difference in priority of value over volume. Of course, 
there will always be exceptions to the rule, but broadly speaking younger 
consumers are more likely to spend less on a garment, but buy many 
of them, while older consumers will spend more on a single, high-quality item 
and purchase less. For older consumers, items are intended to last and not 
change from season to season. As a result, an ageing consumer base is likely 
to adversely impact apparel volumes. However, given that older consumers 
wear apparel items for much longer periods of time; this offers premiumisation 
opportunities through a focus on quality rather than fast fashion trends.
Thinking chic rather than trendy
Apparel retailers looking to target an older clientele must prioritise quality 
over quantity. Age brings knowledge of what clothing suits and flatters, 
and as a result, older consumers want classic, well-cut pieces that flatter their 
body shape, are made of high quality fabrics and will not quickly date.
However, that is not to say that older consumers will be happy with 
unfashionable, drab or sensible clothing. For manufacturers looking 
to target older consumers, the challenge is to find a balance between the fashion 
trends of the day and classic pieces – most obviously, there are opportunities 
for smaller, fashion-driven accessories such as scarves. While tailoring 
and eveningwear are timeless, informal daywear sometimes seems 
to belong more naturally to a younger generation and perhaps is where the over 
65s are least catered for. Although high-quality, well-cut garments will likely 
cost more for the retailer at the design and manufacturing stage than 
pile-them-high, sell-them-cheap fast fashion. If manufacturers get their 
offering right, it will be for clothing older consumers are willing to pay 
a premium to have.
Making shopping an enjoyable 
experience
Aside from high-quality clothing, elderly consumers also want a good quality 
shopping experience.Euromonitor International’s annual consumer survey, 
which questioned older consumers in the UK, France and Germany about their 
apparel shopping preferences, found that older consumers dislike the current 
high street shopping experience far more than younger consumers. In Germany, 
for example, 66 percent of respondents aged 60+ said that they do not shop 
for non-grocery products unless they have to, compared to just 29 percent 
of 15-29 year olds.
time to target fashion’s forgotten generation
© EUROMONITOR INTERNATIONAL 201516
Not only are older consumers more discerning about the clothes they choose 
to wear, they are also more discerning about the shopping experience itself. 
As older consumers shop more infrequently for garments but are prepared 
to spend more when they do, from the perspective of retailers, keeping these 
consumers in the store is vital. Therefore, efforts must go into tailoring not just 
the garments but also the stores for these consumers. Well-stocked and easy 
to navigate stores with high standards of service are a must. 
The practicalities of getting old
When considering elderly consumers, it is vital that apparel manufacturers 
consider their needs as well as their tastes. Although elderly people normally 
have a better quality of life than previous generations, the clock cannot be 
stopped entirely and ageing does bring its problems. The elderly are typically 
less dexterous and agile, with less mobility than when they were younger.
Apparel retailers must take this into account in both store and garment 
design. An enjoyable shopping experience is vital, and therefore stores must 
be designed with the elderly in mind. Plentiful seating, one-level flooring, 
clothes rails at body height and perhaps even a refreshment area are all factors 
that would serve to enhance the shopping experience for this target market. 
Even the choice of music must be tailored to suit. With regard to the clothing 
itself, consideration must be given to the fact that the wearer may have less 
mobile joints, so fastenings in particular must be easy to manage, with clothes 
easy to pull on and off.
Marketing is a tricky business
Finally, if the clothes and the store are right, retailers need to think 
about marketing. Marketing to the elderly is often a tricky proposition. 
While age must be acknowledged, there is no escaping the fact that for many 
it remains a sensitive subject. Marketing targeted at elderly consumers that has 
found success often uses older celebrities in advertisements, such as L’Oréal’s 
recent signing of 68 year old Jane Fonda, to advertise its Age Re-Perfect skin 
care range for the over 60s. This approach would also seem the best option 
for apparel brands and there is no shortage of poster girls for older, 
glamorous women. 
time to target fashion’s forgotten generation
© EUROMONITOR INTERNATIONAL 2015 17
Plenty of long-term potential
Launching a fashion line or brand targeted at the over 65s is certainly 
a challenge, but a challenge if executed correctly that is sure to bring rewards 
over the long term. A whole sector of society that wants stylish, flattering 
clothing is currently largely uncatered for on the high street For the apparel 
manufacturer with the right offering , the long-term rewards of being the first 
to market with a correctly marketed over 65s fashion range are potentially 
huge. After all, today’s fashion-conscious Topshop and H&M customers will not 
be young forever, and are unlikely to be content to turn their back on fashion 
simply because they have aged.
MAGDALENA KONDEJ
head of apparel and footwear research
euromonitor international, UK
@EMI_MagdalenaK | LinkedIn
© EUROMONITOR INTERNATIONAL 201518
A range of socioeconomic indicators, including growth in the population 
and stable disposable income, highlight the growth opportunities that 
the over 60 year old consumer group offers beauty product manufacturers. 
The key to successful strategies targeting this mature consumer base remain 
the identification of concerns and beauty habits and the development 
of a segmented portfolio. Euromonitor International’s survey data, 
collected in 2014, maps out beauty regimes, product usage frequency 
and path-to-purchase factors by age group, aiding the development of targeted 
solutions for senior consumers. 
Anti-agers are not the most frequently 
used beauty products by over 60 
year olds
Although a growing number of claims from skin care, hair care, sun care 
and colour cosmetics target signs of ageing, the survey found that in the over 
60 year old age group, bigger proportions of consumers use facial and body 
moisturisers without explicit anti-ageing claims. Only about 35 percent 
of respondents on a global level stated that they used anti-ageing products 
in the three months prior to the survey. 
Although scientific development has made impressive strides in understanding 
the various causes of ageing, there are gaps in the anti-agers market to address 
certain signs of ageing. 
Anti-ageing portfolios need to clearly segment the prevention / protection 
stages to target more mature consumers’ needs through reversing the signs 
of ageing and offering cell renewal properties, as, for example, L’Oréal Paris Age 
Perfect Cell Renew Night Cream has done.
TARGETING THE BEAUTY 
EVOLUTION FOR 60+
targeting the BeaUty evoLUtion for 60+
© EUROMONITOR INTERNATIONAL 2015 19
While anti-ageing facial moisturisers are able to hydrate and plump up 
the skin to reduce the visibility of fine lines and wrinkles with ingredients 
such as Retinol, a derivative of Vitamin A, hyaluronic acid and UV filter, 
and add luminosity with silicon, they have yet to develop a formulation 
to address dark spots and uneven skin tone effectively. However, on the other 
hand, coverage provided by facial foundations and concealers is able to conceal 
dark spots and add an even skin tone. For example, Clinique’s Even Better Dark 
Spot Corrector is based on a complex botanical formulation and claims 
to address multiple ageing concerns. 
However, only about one third of over 60 year olds have adopted a complex 
anti-ageing routine, and there is significant room to expand usage frequency 
in this growing and relative affluent consumer base. 
Most Frequently Used Beauty Products by over 60 Year Olds
Source: Euromonitor International’s Personal Appearances Survey results are drawn from 6,600 
online consumers ranging in age from 15 to 65+ and living in 16 major markets in 2014: Australia, Brazil, 
China, Colombia, France, Germany, India, Indonesia, Japan, Mexico, Russia, Spain, Turkey, Middle East 
(KSA and UAE), UK, and the US.
Single column (Column1 template)
 rs old respondents uses regularly
Facial moisturise 55
Body moisturiser 50
Facial cleansers 47
Anti-agers 35
Face masks 21
0
10
20
30
40
50
60
Facial moisturisers Body moisturisers Facial cleansers Anti-agers Face masks
%
 o
f o
ve
r 6
0-
ye
ar
-o
ld
 re
sp
on
de
nt
s 
re
gu
la
rly
 
us
in
g 
be
au
ty
 p
ro
du
ct
s
targeting the BeaUty evoLUtion for 60+
© EUROMONITOR INTERNATIONAL 201520
Ready to spend, but on what? 
Although price remains the most influential product feature globally when it 
comes to purchasing skin care products, our survey data shows that, across all 
age groups, over 60 year olds are the least concerned about price. 
Mature consumers are clearly ready to spend on beauty products if their 
concerns are addressed. Multi-functionality appears to be low in demand; 
only 30 percent of over 60 year olds marked it as a preferred benefit in skin care 
and only 27 percent in hair care, which signals a preference for more targeted 
beauty solutions amongst this age group. 
The mostinfluential features for mature consumers are function, 
such as moisturising or sun protection in skin care or volume boosting 
and anti-breakage efficacy in hair care, and natural-organic credentials; 
both benefits are prioritised by 37 percent of consumers aged over 60 years 
in our survey. Portfolio development and segmentation with high efficacy 
of natural ingredients is aligned to the beauty requirements of the mature 
consumer base.
Over 60 year olds are the least interested in celebrity endorsement, 
limited edition and artisanal production; less than 3 percent of this age group 
was interested in any of these three benefits in our survey results. 
The most brand loyal consumer base
The over 60 year old consumer group is the most loyal across a number 
of beauty products, such as hair cleansing and facial care, with 57 percent 
of respondents in both of these categories regularly buying the same brand. 
The lowest brand loyalty and openness for experimentation in this age group is 
seen in body care, but, here, a respectable 47 percent of respondents still prefer 
the same brand.
targeting the BeaUty evoLUtion for 60+
© EUROMONITOR INTERNATIONAL 2015 21
This brand loyalty suggests that manufacturers should diversify their 
product offerings under well-established labels and build on existing brand 
recognition when targeting mature consumers. Beauty regime evolution is 
not uniform globally, and regional and country differences need to be 
taken into consideration when targeting the senior consumer base with 
specialised solutions for their beauty concerns at their appropriate life stage. 
Also, the promotion of more anti-ageing-focused beauty routines, as opposed 
to just cleansing and moisturising, will be beneficial for higher margin 
categories, such anti-ageing serums and eye treatments. Efficacy and natural 
credentials remain key when it comes to marketing highly recognised beauty 
products for over 60 year olds.
ILDIKO SZALAI
Beauty and personal Care research senior analyst
euromonitor international, UK
@EMI_Ildiko | LinkedIn
© EUROMONITOR INTERNATIONAL 201522
Higher life expectancy and falling birth rates are increasing the proportion 
of elderly people across the world. With the large baby boom cohort now 
retiring in growing numbers, this is likely to provide a boost to demand 
in the gardening market.
The young of today, the elderly 
of tomorrow
With gardening being a popular recreational activity among older consumers, 
this trend could provide a long-term boost to demand in the category. 
Increased interest in health and wellness and environmentalism is helping 
to boost demand for gardening products, particularly among younger 
consumers. Consumers are increasingly interested in the provenance 
and the quality of the food they eat, a trend that has been reinforced 
by a number of widely publicised contamination scandals of meat in Europe 
and baby milk in China, fuelling a growing distrust of agribusiness. 
Others perceive it as a way of reducing their carbon footprint and shifting 
to a more sustainable lifestyle.
DEMOGRAPHICS DEFINE 
THE FUTURE OF GARDENING
demographiCs define the fUtUre of gardening
© EUROMONITOR INTERNATIONAL 2015 23
Median Age, 2000-2030
Source: Euromonitor International
These trends are reflected in the increased popularity of GIY “grow your own” 
and urban gardening worldwide. Economic necessity is playing a role 
in this for some, particularly in markets such as Spain, where the global 
economic downturn has taken a particularly heavy toll. Interest in huertos 
(kitchen gardens) has revived as recession-hit consumers seek to trim their 
expenses and become more interested in both health and wellness 
and environmentalism.
Population Aged 65+, 2000-2030
Source: Euromonitor International
Japan Italy Spain Germany China
2000 41.5 40.1 37.4 39.8 31.2
2010 45.1 43.1 39.9 44.2 38.6
2020F 48.9 46.5 44.7 47.4 43.5
2030F 52.7 49.2 49.6 48.3 47.1
Japan Italy Spain Germany China
2000 41.5 40.1 37.4 39.8 31.2
2010 45.1 43.1 39.9 44.2 38.6
2020F 48.9 46.5 44.7 47.4 43.5
2030F 52.7 49.2 49.6 48.3 47.1
25
35
45
55
2000 2010 2020F 2030F
ye
ar
s
Median Age (2000-2030)
Japan Italy Spain Germany China
Germany Italy Spain China
16.2 18.1 16.7 7.4
20.7 20.2 16.8 9.8
22.6 22.5 20.0 15.9
27.3 26.2 25.7 23.3
9.8 15.9 23.3
23.0 29.1 31.6
20.7 22.6 27.3
20.2 22.5 26.2
16.8 20.0 25.7
0
5
10
15
20
25
30
35
2000 2010 2020F 2030F
%
 o
f t
ot
al
 p
op
ul
at
io
n
Population Aged 65+ (2000-2030)
Japan Germany Italy Spain China
demographiCs define the fUtUre of gardening
© EUROMONITOR INTERNATIONAL 201524
At the same time, and as in much of the rest of the world, Spanish consumers 
have become more interested in health and wellness in general, particularly 
in their personal dietary habits. In this context, growing one’s own food is 
a way of better controlling the quality of one’s diet – many younger people 
with huertos are committed to growing their plants organically. 
Gastronomes like to savour flavours that have been cultivated by their 
own hand. Others perceive gardening as a means of greening the urban 
environment, absorbing air pollution, or as a relaxing hobby that helps them 
to cope with stress.
As Spain is expected to have the third highest median age in the world 
(49.6 years) by 2030, companies should take advantage of the current situation 
to engage young consumers in gardening activities.
Gardening is a popular hobby among older consumers, and their ranks 
swelling due to demographic trends, sales should see a long-term boost, 
with products targeting the specific needs of these consumers likely to prove 
particularly popular.
CRUZ DEL BARRIO
head of home and garden research
euromonitor international, UK
Connect via LinkedIn
© EUROMONITOR INTERNATIONAL 2015 25
The incontinence market in Latin America recorded another year of strong 
growth in 2014. Current value sales registered an increase of 18 percent, 
reaching US$1.08 billion. Volume sales topped off at approximately 75,500 
tonnes, an all-time high for the region. Per capita consumption saw a 2.5 factor 
increase when comparing 2009 to 2014, a striking figure for major markets 
such as Argentina and Brazil. 
This result is not a surprise though. Incontinence has been growing steadily 
since 2009, with a 16 percent compound annual growth rate, or CAGR, 
in current value terms and a 10 percent CAGR in volume measure over 
the 5-year period. At the same time, the world grew at a 7 percent and 6 percent 
CAGR, correspondingly. 
Per Capita Consumption of Incontinence Products in Latin America, 2009-2014
Source: Euromonitor International
Two bars (Bar1 template)
2009 2014
Argentina 0.3 1.3 
Brazil 1.1 2.9 
Chile 1.5 2.5 
Colombia 0.8 1.3 
Latin Ameri 0.7 1.8 
0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5
Argentina
Brazil
Chile
Colombia
Latin America
US$ per cap
2014 2009
INCONTINENCE IN LATIN 
AMERICA: OPPORTUNITIES
inContinenCe in Latin ameriCa: opportUnities
© EUROMONITOR INTERNATIONAL 201526
The demographic factor
The Latin American population is ageing. Fertility rates are not what they used 
to be, and in many countries such as Chile and Uruguay, the rate is below 
the replacement threshold of 2.1 new-borns per woman.
The quality of life is also improving in the whole region. The economic 
evolution of several Latin American countries is moving millions of citizens 
out of poverty, subsequently allowing them to reach higher levels of disposable 
incomes. Latinos are now able to purchase goodsand services that were 
until very recently out of reach. 
Due to this economic success and stability, the Latin population is increasingly 
focused on quality over quantity in their lives. As economic conditions improve, 
families tend to have fewer children or none at all. Latinas are not only entering 
the work force for the first time, but are increasingly focused on their careers. 
A second feature is the higher consumption of products targeted at seniors. 
Incontinence products are an obvious opportunity for tissue and hygiene 
companies in both value and volume terms. 
Income thresholds
Despite the overall positive results of incontinence in the region, behaviour 
varies between countries due to availability across channels, consumer 
awareness and education and general stigma regarding the use of the product. 
Within hygiene, per-capita disposable income determines at what point 
a product is accessible to the average consumer. Sanitary protection requires 
a level of $1,000 and diapers $3,000 while incontinence requires a consumer 
have at least $10,000. This feature allows us to understand not only the current 
market performance but it also allows us to map future performances.
inContinenCe in Latin ameriCa: opportUnities
© EUROMONITOR INTERNATIONAL 2015 27
Disposable Income in Latin America and the Incontinence Threshold, 2012-2014
Source: Euromonitor International
All Latin American countries have until recently been below this $10,000 
per capita disposable income threshold. Much of the incontinence market has 
therefore existed within mostly economy level products, covering the needs 
of each country at reasonable and accessible prices. Companies have been able 
to identify this space in countries such as Argentina, Brazil and Colombia 
in their quest for opportunities in volume terms.
In 2014, Chile reached and Uruguay surpassed the $10,000 threshold, 
subsequently offering new opportunities for companies to develop 
incontinence in these markets. It is no coincidence that both countries show 
the lowest fertility rates in the region; the population is getting older and has 
increasing amounts of income. Companies will have the chance to develop 
their incontinence portfolios with premium products that in the past were 
unaffordable for the majority of Chileans and Uruguayans.
combo 3 column and one line (Combo3Column1Line1 template)
ignore this!
2012 2013 2014 Incontinenc hidden extra
Argentina 5,588.60 6,805.90 8,396.60 10000 7
Bolivia 1,680.60 1,888.10 2,061.60 10000 3
Brazil 6,101.20 6,669.30 7,085.10 10000 4
Chile 8,691.60 9,328.80 9,935.60 10000 6
Colombia 4,529.80 4,706.10 4,987.40 10000 2
Ecuador 3,678.60 3,864.20 4,091.40 10000 1
Perú 3,723.20 3,983.70 4,211.20 10000 10
Uruguay 8,704.30 9,698.10 10,878.70 10000
Venezuela 4,778.40 7,176.60 11,285.80 10000
0
2,000
4,000
6,000
8,000
10,000
12,000
Argentina Bolivia Brazil Chile Colombia Ecuador Perú Uruguay
D
is
po
sa
b 
le
 In
co
m
e 
($
U
S
, p
er
ca
p)
2012 2013 2014 Incontinence Threshold
inContinenCe in Latin ameriCa: opportUnities
© EUROMONITOR INTERNATIONAL 201528
Channel opportunities
This scenario opens opportunities in different sales channels throughout 
the region. Exploiting a particular one will depend on the income levels 
and demographic profile of the country. 
The sales of incontinence products through the traditional channel remain very 
important. Latinos rely on the small “almacenes”, “bodegas” or “colmados” 
that are located within residential neighbourhoods. These stores usually sell 
a wide variety of products, ranging from packaged food, fresh food, beauty 
and personal care to tissue and hygiene products.
Pharmacies and parapharmacies tend to offer a more specialised portfolio 
of products. Unit prices are therefore higher than in other channels such 
as the traditional stores and modern retail and the channel typically focused 
on more premium options.
Supermarkets and hypermarkets continue to see the most dynamic growth 
amongst channels and subsequently are widening their portfolio. The social 
stigma of purchasing incontinence products is progressively fading away 
and Latin Americans find themselves more comfortable in developing their 
preferences. The product is quite visible in these channels, which is a rapid 
change as these products were until recently found only in pharmacies. 
Finally, the institutional channel mainly specialises in economy products. 
Some governmental programmes guarantee the availability of incontinence 
items for those affected, particularly in the case of Uruguay. In the rest 
of the countries non-governmental institutions are the main customers 
of incontinence B2B, providing the products for free through their 
charity programmes. 
inContinenCe in Latin ameriCa: opportUnities
© EUROMONITOR INTERNATIONAL 2015 29
A future of opportunities
The incontinence market in Latin America has showed consistent growth over 
the past five years. The penetration of products increased in all countries, 
and the social stigma linked with buying and using it are gradually fading 
away. Latin Americans are also now more familiar with what light and urinary 
incontinence is and the products that are available. 
Demographic changes and economic growth are the key drivers for 
the performance of the category. The ageing of the population, low fertility 
rates and positive economic performance continues to encourage Latin 
Americans to cover their incontinence necessities. 
Growth opportunities depend on the country’s per capita disposable income. 
Chile and Uruguay are leading the process, and are moving to a level in which 
premium products are accessible. The rest of the countries are focused 
on the economy section of the industry, but opportunities in volume are rife.
Finally, both institutional and modern channels offer positioning opportunities 
for companies to develop their portfolio in the region. The Latin American 
governments and national and supra-national non-governmental organisations 
sponsor social aid programmes that deliver incontinence products for free. 
On the other hand, the modern channel is still developing, offering 
opportunities in supermarkets, hypermarkets, parapharmacies and pharmacies.
FERNANDO CRUZ
research analyst
euromonitor international, santiago
@CruzAlvar | LinkedIn
DAVID MACKINSON
senior research analyst
euromonitor international, santiago
Connect via LinkedIn
© EUROMONITOR INTERNATIONAL 201530
When thinking about the challenges and opportunities in targeting the “senior 
consumer,” there is no better case study than what is happening in Japan. 
The statistics regarding Japan’s ageing population are well known and well 
cited, the current population of those over the age of 65 is 33 million people 
or 26 percent of the population in 2014, and the Japanese government has 
forecasted that the percentage of the population over 65 could reach 38 percent 
by 2060. Whether or not Japan undergoes changes to its immigration policy 
to reduce these percentages is another story. With the current proportion 
of those over 65, the highest in the world, there are numerous products 
and services in Japan that Euromonitor has identified as opportunities while 
researching fast moving consumer good products and retailers. 
While Japan is dealing with an ageing population ahead of other countries such 
as Italy, Germany, Greece and even China, these countries and many more will 
be dealing with these issues in the future and should watch what is happening 
to understand and identify new business opportunities. The goal of this 
section is not to recommend where and how these products and concepts 
could be used in additional markets, but to spotlight ways in which 
manufacturersand retailers in Japan are currently finding the “silver lining” 
in an ageing market. 
JAPAN: LEARNING FROM 
AN “OLDER” MARKET
Japan: Learning from an “oLder” marKet
© EUROMONITOR INTERNATIONAL 2015 31
Learn to adapt core competencies
Companies are reshuffling resources in order to address this growing market. 
Kewpie, a popular packaged food company known for its mayonnaise and baby 
food, is using its technical know-how of making soft food products and creating 
“ready to eat” meals for the elderly population. These products are well received by 
seniors that have difficulties in swallowing, but still seek familiar Japanese dishes. 
The products are easy to open, available in plastic pouches and feature flavours such 
as beef sukiyaki, a popular Japanese dish. While current sales of the product line is 
small when compared to the company’s other products, Kewpie sees this area as a 
very profitable and growing segment for years 
to come.
Little changes for convenience offer 
big opportunities
Besides changing entire product lines, companies are making smaller and simpler 
changes at the existing product levels to ensure that products are easy to use 
by the senior population. Nippon Suisan Kaisha (Nissui) and Hagoromo Foods, 
which make shelf stable food such as preserved fish, fruit and vegetables, added an 
easier to peel-off foil as a lid for its metal food cans. Nissui claims that opening the 
products requires just one-third the amount of power than their previous “easy to 
open” cans took. The peel-off foil is also safer and reduces the risks of cutting ones 
fingers when opening the product. 
Less can be more
Japan is well known for its technological innovations and companies continue 
to push the boundaries across the consumer electronics and appliances categories. 
However in with some consumers, less is still more. To meet that consumer need, 
Panasonic introduced a line of “simple” electronics called J-Concept. J-Concept 
products target consumers in their 50s and 60s with products that are easier 
to use, classic in style and in some cases lightweight. For example, the J-Concept 
vacuum cleaner weighs just two kilograms, the lightest in the world. Other devices, 
such as the J-Concept air conditioner/heater has the capability to specifically target 
warm air at one’s feet, a helpful function for elderly consumers. 
Japan: Learning from an “oLder” marKet
© EUROMONITOR INTERNATIONAL 201532
A consumer segment “new” to 
premium and leisure
Retiring baby boomers in Japan spent a significant portion of their life working 
and did not have a lot of time for leisure during those busy years. As such, 
a portion of retirees find themselves with a lot of time and savings on their 
hands. Retailers are making greater efforts to target these higher income 
consumers. Takashimaya, a department store with luxury goods, 
has remodelled its stores to be more senior friendly. Another department 
store, Daimaru Matsuzakaya, set up an entire new retail space named Madam 
Selection to offer designer senior clothing. 
As seniors have a significant amount of free time and lost vacations to make 
up for, travel agencies have targeted senior consumers for new growth 
opportunities. Understanding that senior consumers do not want to book 
travel packages online; travel agents are investing in physical outlets and call 
reservation centres. ANA Sales & Tours, for example, created a new brand 
called ANA Wonder Earth that is designed to give recently retired seniors tour 
packages that are active but accommodate their special needs.
Bridging isolation and responsibility
While the population in Japan continues to urbanise, it is creating challenges 
for some, especially seniors that continue to live in remote areas and are being 
cut-off from typical retail channels as businesses close down. In Japan, 
there is even a term called kaimono-namin which directly translates 
to “shopping refugees.” So how do retailers target consumers in remote areas? 
In the case of retailers such as 7-11 and Aeon, it means finding ways to serve 
this population while also providing corporate social responsibility within these 
communities. Retailers are offering delivery services for seniors and facilitating 
ordering through non-internet options such as telephone ordering and even 
door-to-door salespeople with tablets. Retailers as well as foodservice operators 
that deliver bento (Japanese lunch box) are being praised because these delivery 
services are providing a much needed human touch. Delivery services indirectly 
check- in on seniors living alone and provide piece of mind to loved ones that 
live afar. 
Japan: Learning from an “oLder” marKet
© EUROMONITOR INTERNATIONAL 2015 33
Prepare for the future by 
understanding Japan now
Looking across various fast moving consumer good categories and retailers 
in different countries and the respective growth rates, it is easy to dismiss slow 
or stagnant growth in Japan as “less dynamic.” However, as one can see above 
from just a small sampling of what Japanese research analysts are uncovering 
in various markets, the Japanese market is at the forefront of dealing 
with a dynamic consumer segment that is only going to become more 
prominent in other countries in years to come. Japanese companies across all 
fast moving consumer goods are attempting new and innovative ways to target 
this population with varying levels of success. Attempting to simply copy 
an innovative concept that works in Japan is not a strategy that is 
recommendable for foreign players. Manufacturers and retailers that want 
to get ahead of the curve in understanding their own market for how to target 
senior consumers would benefit from understanding the current market 
landscape of Japan to be better prepared for their opportunities of tomorrow.
JARED CONWAY
research manager
euromonitor international, tokyo
© EUROMONITOR INTERNATIONAL 201534
The main findings from this white paper show that consumers over age 60 are 
a growing population with an increasingly rich demographic; although we 
notice a rift between the wealthiest and poorest of them. They can also 
experience a generalised feeling of dissatisfaction with available product 
offerings across many markets.
What does the Later Lifer want? 
Health, family and leisure 
Focusing on their wishes and desires is a good place to start when thinking 
about the future for Later Lifers.
For the financially comfortable Later Lifer, there are three areas that matter: 
maintaining physical health, keeping an active social life and family contact 
and optimising leisure time with hobbies and new experiences.
Euromonitor International’s Consumer Survey for 2013 found that everyone 
considers good health to be the most important factor in a happy life at 98%.
Furthermore, 48 percent of over 60s ranked it as the number one factor 
in a happy life, compared to 39 percent of under 60s. Health takes on greater 
importance as people age and become more acutely aware of their mortality, 
and wish to preserve their health and independence for as long as possible.
Family is another factor that grows with age: 97 percent of respondents 
over 60 checked this as a factor in a happy life, compared to 96 percent 
under 60. Similarly, children are also weighed more heavily for Later Lifers 
than for the under 60s, while friends are more important to the under 60s. 
Maintaining family relationships takes on a strong importance in most cultures 
as people age, children move away and concerns regarding dependency begin 
to emerge.
CONCLUSION 
ConCLUsion
© EUROMONITOR INTERNATIONAL 2015 35
Factors in a Happy Life, 2013
% respondents checked as factor
Source: Euromonitor International’s Global Consumer Trends Survey
Spending plans
The same survey also asked respondentswhat areas they planned to increase, 
decrease and maintain their spending on over the next 12 months. While 
the mood of austerity had a clear impact on responses with most stating 
they would put more money into savings and would increase their 
spending in discount stores and on private labels, it was also common 
for respondents to be keen maintaining or increasing their spending on travel 
and new technologies. 
Optimising leisure time appears to be critical and largely recession proof, 
with consumers keen to continue investing in home entertainment systems, 
internet connected products to keep in touch with distant family and friends 
and travelling both domestically and overseas.
Factors in a Happy Life 2013
% respondents checked as factor
Over 60 Under 60
Good health 98.4 97.9
Strong and suppo 96.8 95.5
Financial security 95.2 93.9
Satisfying work 89.2 93.2
Strong circle of frie 81.8 85.3
Having children 81.6 77.4
Having a long-term 73.7 75.2
Successful career 60.3 73
Spiritual beliefs 43.8 44
Being wealthy 43.1 54.3
Social status 41.4 55.6
0 20 40 60 80 100 120
Good health
Strong and supportive family relationships
Financial security
Satisfying work
Strong circle of friends
Having children
Having a long-term goal
Successful career
Spiritual beliefs
Being wealthy
Social status
Under 60
Over 60
ConCLUsion
© EUROMONITOR INTERNATIONAL 201536
Areas Experiencing Increased Spending Among Later Lifers, 2013
% respondents
Source: Euromonitor International’s Global Consumer Trends Survey
Areas Experiencing Decreased Spending Among Later Lifers, 2013
% respondents
Source: Euromonitor International’s Global Consumer Trends Survey
Companies need to be innovative to target this demographic and to think 
beyond the stereotype.  Personalisation, quality and aesthetic usability are key 
to attract and retain the senior consumer. Marketing approaches that focus 
on their main wants and needs will be core to any offer – family, health, 
leisure – are the best frameworks.
GINA WESTBROOK
strategy Briefings director
euromonitor international, UK
Areas in Which Spending Has Increased and Will Increase Among Later Lifers 2013
% respondents
Past 12 months Next 12 months
Discount stores 16.6 19.1
Savings 12.4 20.4
Private label 11.2 11.6
Travel 10.4 16.4
New technology 8.8 8.4
Buy fewer products/se 7.8 6.3
Clothing/footwear 6.3 5.8
Credit card for non-ne 5.5 4.6
Credit card for shortfa 5.4 7.9
Cinema/concerts/thea 4.7 7.9
Fast food restaurants 3.6 2.6
Full-service restauran 3.3 3.9
Source: Euromonitor International’s Global Consumer Trends Survey
0 5 10 15 20 25
Discount stores
Savings
Private label
Travel
New technology
Buy fewer products/services
Clothing/footwear
Credit card for non-necessities
Credit card for shortfalls
Cinema/concerts/theatre
Fast food restaurants
Full-service restaurants
Next 12 months
Past 12 months
Areas in Which Spending Has Decreased and Will Decrease Among Later Lifers 2013
% respondents
Past 12 months Next 12 months
Clothing/footwear 36.6 31.5
Full-service restaurants 34.8 37.7
Cinema/concerts/theatre 33.3 31.7
Fast food restaurants 31.9 41.4
Travel 31.6 28.1
New technology 28.9 32.4
Savings 27.3 16.9
Buy fewer products/services 26.8 29.3
Credit card for non-necessities 19.8 40.4
Private label 17.9 17.1
Credit card for shortfalls 13.4 32.4
Discount stores 12.4 10.9
Source: Euromonitor International’s Global Consumer Trends Survey
0 5 10 15 20 25 30 35 40 45
Clothing/footwear
Full-service restaurants
Cinema/concerts/theatre
Fast food restaurants
Travel
New technology
Savings
Buy fewer products/services
Credit card for non-necessities
Private label
Credit card for shortfalls
Discount stores
Next 12 months
Past 12 months
© EUROMONITOR INTERNATIONAL 2015 37
Euromonitor International is the world’s leading provider of global 
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