What retailers need to know about older shoppers

© Silver Group

From a presentation to the Singapore Retail Industry Conference September 11, 2013

50+ population 2018

36% 37%

41%

18% 18%

46%

37%

20% 21%

37% 37%

31%

39%

35%

Source: Global Demographics © Silver Group

largest

© Silver Group

0~14

15~34

34~49

50+

Singapore 2018

Data: Global Demographics

37%

13%

27%

22%

37% Singapore population 50+, 2018

© Silver Group

* Aus, China, HK, India, Indon, Japan, Korea, Msia, Phils, Spore, Taiwan, Thai, Viet

Data: Global Demographics

-6% 2% 1%

0 ~ 14 15 ~ 34 35 ~ 49 50 +

fastest growing

APAC population 2008 ~ 18

+33%

wealthiest

© Silver Group

1,021.2

1,963.9

2005 2015

65+

Japan, Korea, Taiwan, Singapore, Australia, China, India, Thailand, Malaysia, Philippines

Source: MasterCard Asia/Pacific

US$ billions

US$2trillion p.a Annual spending power. APAC 65+

USA: 80% - luxury travel 74% - prescription drugs 51% - OTC drugs 60% - healthcare spending 41% - new cars 25% - toys $7 billion online sales annually

EUROPE: 45% - new cars & 80% top range 50% - face care/cosmetics 55% - coffee 50% - mineral waters 50% - food oils (60% olive oils) 40% - yogurts & dairy products 35% - travel, 80% cruises

© Silver Group

in-store spenders

© Silver Group

57%

66%

69%

72%

19 - 36

37 - 47

49 - 67

68+

% of in-store shoppers who purchase

Source: The NPD Group

loyalists

© Silver Group

54% 59% 61%

25% 27% 30%

18 ~ 34 35~54 55+

Salespersons help

Able to touch/try/feel

Source: Digital and the New Consumer - Havas

Q: We see little difference between the needs of older

customers and those of other customers

© Silver Group Silver/SRA Survey. August 2013

Disagree/Neutral

85%

Agree 15%

largest

fastest growing

wealthiest

most loyal

least contested

© Silver Group

their attitudes are shaped by the same influences as other age

groups

© Silver Group

AGE

GENDER

WEALTH

LIFESTYLE

SEXUALITY

EDUCATION

ETHNICITY

INCOME

THINK FEEL LOOK

younger for longer

© Silver Group

most want to …….

ageing body ageing mind

ageing senses

complex. relentless. universal

the big differentiator

25 effects of ageing

Communications

Support

Product

Online Retail

© Silver Group

•  no negative affect on younger consumers

•  minimal cost

© Silver Group

© Silver Group

Over 200 questions across the

customer journey

The Audit Tool

Product Communications

4.7

63 years old

© Silver Group

Design for the young: Exclude the old or

Design for the old: Include everyone

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 audits "  Using unique tools to evaluate your entire customer journey through the prism of

ageing

"  Enable business to identify and remove the barriers between them and older

consumers

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 topics such as:

•  How you can benefit from your ageing customer base

•  Marketing to the ageing consumer © Silver Group

Email: [email protected]

Silver Web: www.silvergroup.asia

Blog: http://silvergroup.asia/blog/

Twitter: https://twitter.com/#!/SilverGroup

Age-Friendly web: www.age-friendly.com

Contact us to learn more:

© Silver Group

What retailers need to know about older shoppers

Retail

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