The Spending Power of the Older Consumer
Older consumers are attracting the attention of companies due to both the rising number of elderly people and their growing incomes. By 2020, the purchasing power of the global population aged 65 and older will be 54 percent larger than the total GDP of Latin America. The key to success when tapping into an older consumer market is to engage consumers on both high and low income levels, as a Euromonitor Survey showed that the propensity to save by older consumers in all income levels is low.
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