WPP sets sights on Japan’s seniors

There are opportunities for brands and marketers in targeting Japan’s ageing population, according to WPP’s country CEO. 

Context 

Japan’s population is in decline (the current total of 125 million is expected to sink to 100 million in 2053) and the population is getting older (seniors already account for more than 29% of the population and that proportion will hit 35.3% by 2040).

The market for products and services aimed at people aged 65 or older is forecast to grow to 101.3 trillion yen by 2025. That’s up 61% from 62.9 trillion yen in 2007.

Why it matters

“The good news is that [being] older or ageing, doesn’t mean you don’t consume things,” Kyoko Matsushita said in a recent interview with Kyodo News. “You actually have more disposable income or savings.”

But seniors are more selective about what they spend on, she added. “I think what you communicate is actually very important for more of the older generation because it has to be something they need.” That’s an important consideration for the agency’s clients which include Toyota and Sony. 

In addition to the ‘what’ of communications, there’s the ‘where’ to consider: online ads now account for 24% of ad spending while traditional media platforms make up a combined 29%.

Sourced from Kyodo News