It’s annoying beyond belief when media trot out the same old stereotypes and claptrap about ageing consumers. But when they get it right, we jump for joy!
This article in the FT titled “A gilded retirement for China’s elders” is spot-on. I also highly recommend the FT video report from the same article.
‘Boomer’ is a term too loosely used as a global unifier for people of a certain age i.e. those born between 1946 and 1964. The lives of a Chinese and an American born in this period could not be more different.
But as with all things ‘China’ (and as pointed out in the FT article) Chinese seniors are catching up fast on the western approach to ageing.
“The elders are maddeningly cheerful to boot: it seems they have spent a lifetime “eating bitterness”, as the Chinese saying goes, and are now ready to spit it out”.
This phenomena, as in the west, presents massive business opportunities.
Click on the slide below to see an excerpt from a presentation on these opportunities from a speech I delivered in Beijing in 2014.