SHANGHAI, March 15, 2016 /PRNewswire/ -- For those looking to make inroads into the world's largest 'silver market', with the maturing consumer now estimated at one third of the economy, trade shows are perhaps the best route in for foreign companies.
China's population is ageing rapidly. Today there are already over 220 million people over the age of 60 in China, more than the populations of the UK, France and Germany combined. This is set rise to 480 million by 2050, representing one third of China's population and one quarter of the whole world's elderly population.
This rapidly growing and increasingly important consumer segment has greater spending power, more leisure time, improving lifestyles and higher expectations than ever before. Indeed, the over 60 age group is starting to really embrace consumerism and independence.
As a result there are an increasing amount of opportunities for foreign companies to meet the growing consumer demand in areas where the 'silver' consumer demand is currently exploding. However, as yet few companies have attempted to serve the growing needs and aspirations of these mature Chinese consumers and have not marketed their products and services directly to them.
Leading international exhibitions, such as the influential ChinaAID held annually in Shanghai, offer the right balance of promotional and networking opportunities for businesses looking to act first to gain the proper footing here. Next set to take place in early June, the show has been going for 16 years and experienced growth of 66% over the last three years alone. Shows like this provide fertile ground to promote brand awareness and court the interests of key influencers, policy-makers and officials in the right places.
For businesses who might be in a position to fill gaps in the market by adapting products and services tailored to the needs of older consumers in China, now really is the time to invest in the considerable opportunities on offer. The Chinese 'silver market' holds huge as yet unrealized opportunities, and for those considering to join this rising tide, participating in renowned shows like ChinaAID is the best first step forward.
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SOURCE INTEX Shanghai Co., Ltd.