Why Chinese Pensioners' Purse is so Important
China's youth seem to get all the attention. Right from day one, most are pampered by doting parents and two sets of grandparents. They are typically better educated and more likely to live in cities, resulting in higher average incomes than those 10-20 years older. Their more liberal attitude to consumerism sees most marketing directed their way.
Nonetheless, China's swelling pensioner population are increasingly on the radar of businesses selling in China. With some Chinese retiring as early as 50, the pensioner pool is proportionately larger than most countries, particularly when coupled with the relatively small youth segment resulting from the one-child policy. The number of Chinese aged over 65 are expected to grow from 8% of the population today, to 25% by 2050, with spending rising from ¥4 trillion ($640 billion) to ¥106 trillion ($17 trillion).