Core Insights - The article discusses the profound and accelerating aging process in global populations, particularly in China, highlighting the increasing median age and life expectancy over the past decades [2][4][6]. - It emphasizes the complexity and diversity within the elderly population, challenging stereotypes and assumptions about their needs and behaviors [13][17][24]. Demographic Changes - The median age in developed economies has risen from 30 to 43 years over the past 50 years, with projections indicating it will reach 47 years by 2075. Emerging economies have seen a similar increase from 19 to 30 years [2][6]. - By the end of 2024, China's elderly population (aged 60 and above) is expected to reach 310 million, accounting for 22% of the total population, with those aged 65 and above making up 15.6% [6]. Life Expectancy Trends - Global average life expectancy has increased from 62 years to 75 years over the past 50 years, with developed economies seeing an increase from 72 to 82 years [4]. Aging Population Characteristics - The article notes that the aging process is not uniform; there are significant internal differences among the elderly, influenced by factors such as education, health, and socio-economic status [13][17][24]. - The elderly population in China is characterized by rapid aging, with a notable increase in the proportion of those aged 65 and above, which has risen by an average of 0.6 percentage points annually from 2020 to 2024 [6]. Consumer Behavior Insights - The elderly population is not a monolithic group; their consumption patterns vary widely based on resources, capabilities, and life experiences [30][31][33]. - The article identifies different consumer segments within the elderly population, such as high-resource and high-capability consumers who seek premium experiences, and low-resource consumers who prioritize essential needs [46][63]. Economic Impact - The elderly population in China holds significant wealth, with 60% of their savings being higher than the overall population's savings rate. The total wealth of those aged 60 and above reached 78.4 trillion yuan, averaging 264,000 yuan per person [26][27]. - The article highlights that while there is a perception of a booming market for elderly consumers, a substantial portion of this demographic remains underserved and has low consumption levels [78][88]. Digital Engagement - There is a notable digital divide among the elderly, with many lacking internet access due to various barriers, including education and technology familiarity [91][93]. - The COVID-19 pandemic has accelerated digital engagement among the elderly, with a significant increase in internet usage observed during this period [97].