Population Ageing Associates
strategy and innovation for an ageing
population
|
Population Ageing Associates
|
|
|
The Mature MarketThe population is ageing. The future will be older. Families are not having enough children to reproduce themselves. Youth markets are static or shrinking. Society's centre of gravity is shifting. Older people are becoming richer and fitter. The Mature Market is the growth market. Already the over 50s spend some £170 billion a year on goods and services - 45% of total consumer expenditure. And the financial net wealth of the over 50s is more than £500 billion. Businesses need to address the implications of these fundamental drivers. The product range, product cycle and supply chain all need to be rethought. Market needs must be reassessed, products designed to meet those needs, and the implications for the marketing function thought through. To be effective in the Mature Market, businesses need people who understand older consumers. PAA is building expertise: David Metz and Michael Underwood have authored a new comprehensive book on the Mature Market, published in February 2005, entitled: 'Older Richer Fitter: identifying the customer needs of Britain's ageing population'. In his actuarial capacity, Brian Ridsdale initiated a study on Longevity in the 21st Century. The report, published by a group of actuaries and others (Willetts et al) in March 2004, offers a detailed analysis of mortality change at the start of the 21st century and explores some of the financial consequences.
|
|
Send mail to
webmaster@populationageing.co.uk
with questions or comments about this web site.
|
