Move Over Millennials: Why Brands Should Stop Ignoring China’s Silver Generation
Everyone knows the fastest growing group in China is the millennial demographic, right? Think again.
The “silver generation” is actually the fastest-growing group in China, and seniors—a demographic that accounts for one-third of the entire country‘s spending—are being virtually ignored by the luxury industry.
“The over-60s in China are no longer just looking for tradition and traditional ways of buying,” said Joy Li, a 67-year-old retired school teacher from Shanghai to Jing Daily. “We like treating ourselves, we like new, modern luxury products and modern ways of purchasing them.”