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Unprecedented growth of the older demographic means that every company will need to respond to the ageing of its customers. This can be done without detriment to the existing client base and should expand your customer reach.
With 54% of the HNWI’s in Asia-Pacific over 56 years of age, such strategies are particularly critical in financial services. This is also the fastest growing age segment in most developed markets of APAC and worldwide. MasterCard predicts that in two years time, Singaporeans over 65 will have a spending power of more than $13 billion not to mention their assets and savings.
Contrary to common belief, attracting and retaining older customers need NOT mean that your brand or offering is suddenly skewed to an older consumer at the expense of your current positioning. Silver helps companies to make the right strategic choices and to profit from the power of the 50+ market.
Sometimes, minor changes to the customer touch-points can remove major barriers that might otherwise impede the brand experience for your older customers.