China's ageing population: Playing the silver hair card

Sirius Wang, Jason Yu and Theresa Loo

According to Millward Brown's forecast, 36% of the Chinese population will be 55 years old and above by 2030 (Chart 1). The tipping point for embracing innovations and adaptations for the silver hair segment is upon us. Marketers can either be proactive by rising to the challenges posed by this trend now, or be forced to respond by competitive and regulatory pressures later on. The aim of this paper is to provide marketers with an understanding of the needs and demands of the silver hair consumers. It also sheds light on how they can tackle this segment by designing age neutral products and relevant communication. Lastly, there is a review on what further research will help guide marketers to navigate the opportunities and challenges offered by the emergence of silver hair consumers.