Unlocking the Trillion-Dollar Opportunity: Tailored Strategies for Asia Pacific's Aging Population

Delivery

This report comes in PPT.

Key findings

Capture the growing 60+ consumers in Asia Pacific

Asia Pacific’s 60+ consumers are highly diverse, with varying cultural backgrounds, lifestyles and purchasing power. Key ageing markets such as Greater China, Japan, South Korea, Thailand and Singapore represent a potential market of upwards of USD1 trillion. By recognising their shifting spending habits and increasing tech-savviness, businesses can craft targeted strategies to engage these consumers.

Invest in inclusive solutions that engage with 60+ consumers and their care circles

Brands can grow by addressing the health needs of 60+ consumers and their caregivers. Especially in Asia’s multigenerational households, older consumers’ care circles can be one particular area of opportunity. Inclusive products that reduce ageing stigma and foster community connections can not only enhance brand reputation but also create unique brand trust and consumer loyalty in the long term.

Create tools and resources to consult and empower, rather than impose

Leveraging financial services and technology can help 60+ consumers in Asia Pacific maintain or improve their lifestyles and make their own choices.

Products, services and investments designed for 60+ consumers should have a filtered focus and clearer claim to educate older consumers instead of dictating what is the best for them.

Indulge 60+ consumers with aspirations and desires

Brands must recognise the evolving preferences of 60+ audiences, who are underserved in indulgent lifestyles, driven by enhanced purchasing power and shifting norms. Understanding their latent desires and values is crucial. In 10 years from 2025, the population aged 65+ of social class A is expected to grow about 50% in Asia Pacific. Opportunities include expanding the consumer base and premiumisation, while challenges involve building trust and offering personalised, high-quality experiences.