Senior economy, silver or silver economy are some ways of calling the market focused on the elderly, a sector that will grow in the coming years and that represents a great market to invest in.
In the world, people over 60 years of age would go from 605 million in 2000 to 2 billion by 2050, according to estimates by the World Health Organization (WHO).
In Mexico, there are 28.2 million people over 50 years of age, based on data from the National Survey on Health and Aging in Mexico (Enasem), prepared by Inegi and the University of Texas Medical Center.
The majority (46.4%) are currently between 50 and 59 years old, while 29.4% are between 60 and 69 years old; 16% between 70 and 79 years old and 8.2% over 80 years old. However, in the next 20 years, this figure will increase.
As the market grows, the forms of consumption change. While Generation X is already very close to the elderly population, by 2040 the first millennials will be.
These are generations that have lived with technological changes, have known how to adapt and are now immersed in the digital age. Furthermore, family dynamics have also changed for these generations.
Despite the above, there are some segments in which you can always invest and that will also have greater growth:
Health and personal care. Over the years, some diseases appear or health becomes more fragile, so people tend to take much more care of their diet.
A good investment option is places that offer healthier menus, with a great boom for vegetarian or vegan food.
Technology and digital tools. The digital age has brought great conveniences for people and greater interconnection.
This can be a great tool to keep older adults in contact with health services or with their families.
Any application that allows monitoring of eating, taking medications or that provides more freedom to older adults, will be a good investment option.
Personalized assistance. Many of the elderly people have led a more independent life and are used to having a certain activity, so starting to depend on the family becomes complicated.
For this, home care services, both medical, cleaning, food preparation or simply accompaniment allow a certain margin of independence, but at the same time they supply these basic needs.
In the end, the senior economy represents a great segment to generate business opportunities, the question is to anticipate the consumption changes of the new generations and start investing in it.
Hi, my name’s Gina Long. I'm a successful businesswoman and love to stay healthy. I consider health and wealth to be an essential part of my makeup. In this blog, I talk about these things that are essential to me and hopefully my readers.Click to read on