In the next year, the world population with 60 years old or more will be outnumbered by those with 5 or less, according to the World Health Organization. One of the main causes of this is that people are living longer. The world life expectancy reached 72 years in 2017, in accordance with the World Bank, and for some countries, the expectancy is considerably higher, such as the US (78 years), France (82 years) and Japan (84 years).
It's not far that the market perceived this populational change also represents a huge market opportunity. Many publicity is being directed for this populational group. A great example is the Nars campaign with the actress Charlotte Rampling (68 years) or Jessica Lange, also a sexagenarian, starring Marc Jacobs’ beauty campaign.
This market attention is because, beyond being a growing consumer group, they also are looking for well aging, and the market provides solutions to support them in improving life quality and experiencing their moment. Beyond that, they’re also gaining market share, as an example reported in Financial Times' article, the cohort with more than 55 is responsible for 40% of 2013's spending on personal care market in the US.
How to address this group consumption?
Old is gold - or silver-headed! Being young is no longer synonymous to appreciate life as best. The silver consumers have a more stable life, far from the troublesome of “starting moment” - starting a career, starting a marriage, etc. They want products that come as an experience, made to enjoy and also to facilitate their life.
Living longer and healthier: they look for their well aging, thus products that enhance health and life quality. One great example is the Symbiocaps LA, the Nanovetores' probiotics that enhance skin health, by balancing skin microbiota. The protection of the active ingredients by the natural capsules assure the viability of the positive bacteria at the moment it reaches the skin, enhancing skin beauty and health, and granting the effect of reduction on the wrinkle, acne and pore dilation.
For the cosmetic market, it’s quite swift in positioning the products. Aging can no longer be associated with fear. It’s now about to enhance the benefits, provide safety and boost customers' joy!