For anyone interested in ageing opportunities in China, this is clip worth watching.
Some respected figures from China’s advertising industry start out with the usual silo mentality about products and services for older people. But to my relief, as the show continues, there’s more talk about the need to adapt products and services to meet the evolving needs of older people.
In comparing China’s older consumers with their western counterparts, the speakers note that older people are more culturally embedded in society and the powerful force they still exert on the purchases of younger people. The usual suspects of healthcare, finances, travel and other services are mentioned as areas of opportunity. However, a surprising and interesting example where many of the major purchase decisions are made by elders are weddings.
Also some interesting thoughts about the digital connectedness of China’s senior folks.
Good job Thoughtful China!