Euromonitor analyses consumer opportunities for those over 60

Source: Euromonitor website.

Market research company Euromonitor International released today a new white paper on the senior consumer opportunity. While companies have traditionally ignored later lifers, defined as people over 60, because they are seen as frugal spenders with lower incomes and the ability to resist marketing messages, this segment is growing significantly.

The population over 60 stood at 912 million in 2014, representing 12.6% of the global population, and by 2030, this segment will grow to 18% of the total, or 1.5 billion globally, the company said.

While China is the fastest growing ageing market with over 60s forecast to grow by more than 46% between 2014 and 2030, Japan has the oldest population, with a third of the total population aged over 60. Japan is a model on the impact of this demographic shift, showing the effects of different methods of governmental intervention and product development opportunities.

Key findings include:

• E-health, home assistance and elderly-friendly services will drive technology developments in the senior market, with health being the most dynamic consumer expenditure category through 2030. 
• Efficacy and natural features remain key when it comes to marketing beauty products to the over 60s. 
• Luxury goods focusing on heritage and craftsmanship are popular.
• As senior consumers usually invest in timeless, quality clothing, an older population will have a negative impact on sales volume in the apparel market. 
• Presbyopia represents a key market driver in eyewear. 

Download a copy of the white paper here. 

Prepaid MasterCards of solid silver, gold and platinum launched

Source: Pure + Solid.

Pure and Solid has taken six years of development to produce payment cards for international monetary transactions made from precious metals. 

The Pure + Solid Prepaid MasterCard cards made of platinum (Pt999), gold (18k) or silver (Ag925), and are not restricted to a specific level of income or funds nor to minimum spend requirements. There is a minimum amount of US$100, GBP100 or€100 to be loaded onto the card, however.

While the cards are targeted at the luxury market, they could potentially be deployed as corporate cards, or in situations where expenditure above a specific amount should not be exceeded.

Pure and Solid says the cards can be used for electronic payments. All cards are delivered to customers with a certificate of authenticity within four to ten weeks of ordering and are valid for 60 months. Every card also comes with a Priority Pass to the VIP lounges of world's largest independent airport lounge access programme.

The Pure + Solid Platinum MasterCard is available for €28,690. View the card fees and limits here.