Marketing to the Ageing Asian Population
Japan and Hong Kong, China have the oldest average populations in the Asia Pacific region. In Japan, which has the highest average age in the world, the government is looking to stimulate inflation which is likely to affect older consumers living on fixed incomes – particularly with the planned increase in the consumption tax which will also have a knock-on effect on inflation and spending power. Sarah Boumphrey, Head of Countries and Consumers Research at Euromonitor, states that despite pressure on their spending power, older consumers enjoy experiencing new things just as much as younger consumers. Therefore the key to marketing to older consumers is to serve them without patronising them.
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