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Business opportunities in an ageing China

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China is one of the fastest ageing countries on the planet. It faces huge challenges as a result. But there are also business opportunities for the wise. This presentation outlines the market potential, why ageing China is different from other 'ageing' societies and deserves a different approach to business opportunities arising.

Also some tips on how to market to the ageing consumer in China.

Published in: Business
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Business opportunities in an ageing China

  1. 1. Profit from the Power of the 50+ Market (excerpt) Kim Walker 9 April, 2014 Beijing © Silver Group
  2. 2. WHY China? © Silver Group
  3. 3. 2010 - 2020 © Silver Group 6% -2% 44% 0 - 14 15 - 59 60+ +44% Source: Silver, United Nations World Population Prospects fastest growing segment China’s population
  4. 4. ageing China © Silver Group 12.4 16.9 23.8 2010 2020 2030 Source: Silver, United Nations World Population Prospects China % population 60 years + 24%
  5. 5. © Silver Group
  6. 6. © Silver Group Source: Silver, United Nations World Population Prospects oldies rising 12.4 23.8 30.7 37.5 21.9 28.9 18.6 25.9 0 10 20 30 40 2010 2020 2030 China N. America Europe Japan % pop 60+
  7. 7. © Silver Group
  8. 8. China is bigger © Silver Group 49% 6% 30% 15% China N. America Europe Japan 345,613,000 people 60+ Source: Silver, United Nations World Population Prospects 60+ in 2030 = 708,316,000
  9. 9. getting old before getting rich © Silver Group Per capita GDP 2012 Source: World Bank China $6,091 USA $51,749
  10. 10. different spending priorities © Silver Group -30 -20 -10 0 10 20 Alcohol + tobacco Clothing Communications Education Food and drinks Healthcare Hotels Household goods Housing Leisure Misc Transport Percentage change of expenditure of 60+ relative to 20-59 (2010) Source: Euromonitor
  11. 11. the government is taking action •  Average retirement age around 60. Education disparity negates raising of retirement age to keep older workers in the workforce •  Urbanization likely to increase the density of older people in rural areas - Elderly Rights Law – July 2013 •  $208 billion stimulus to pensions and basic healthcare - 2009 •  ‘health reform program’ - a foundation for universal health care access by 2020 •  Listed senior housing as ‘encouraged’ in its 2011 catalogue for guiding foreign investment © Silver Group
  12. 12. © Silver Group
  13. 13. © Silver Group China Times Feb 6, 2014
  14. 14. ‘age-silo’ market opportunities © Silver Group
  15. 15. © Silver Group
  16. 16. © Silver Group
  17. 17. “China's domestic efforts are helping drop the price of solar at an astonishing pace -- something that everyone in the solar industry wants. But it's also making it extraordinarily difficult for American solar manufacturers to compete”. © Silver Group The Guardian 2011 China became the biggest solar market in 2013
  18. 18. © Silver Group 0 to $11 billion in 10 years
  19. 19. © Silver Group •  produced in bulk •  utility pricing •  often low-tech
  20. 20. © Silver Group
  21. 21. © Silver Group AGE GENDER WEALTH LIFESTYLE SEXUALITY EDUCATION ETHNICITY INCOME
  22. 22. ageing body ageing mind ageing senses © Silver Group
  23. 23. physiological ageing © Silver Group
  24. 24. China 4 – 2 - 1 © Silver Group Market to older consumers via their adult children
  25. 25. main users of functional milk in China = 50 years and older © Silver Group 0 ~ 50 51 ~ 65 Mengniu HuanQing
  26. 26. OUR SERVICES Workshops •  Insightful, interactive, fun and actionable workshops that help teams understand the opportunities and challenges of older customers •  Sessions ranging from ½ day introductions to 2-day immersion and ideation programmes Age-Friendly audit •  Using unique tools to evaluate your entire customer journey through the prism of ageing. •  Enables businesses to identify and remove the barriers between them and their older customers Research and strategy •  Applying research, insights and ideas to devise unique strategies that create a sustainable competitive edge with the ageing consumer Speaking •  Kim Walker is one of the few global authorities on this subject. A TED speaker and co- author of a definitive book on the subject, his lively delivery entertains and informs. His internationally awarded keynotes cover a range of related topics. © Silver Group
  27. 27. SOME OF OUR CLIENTS © Silver Group
  28. 28. Email: kim@silvergroup.asia © Silver Group

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