Yihan Ma
Research expert covering e-commerce and FMCG in Greater China
Elderly consumers in China - statistics & facts
In 2022, China saw its first decline in population. With the birth rate plummeting in the past years, and a longer lifespan due to improvements in healthcare and living standards, China is now facing a major demographic challenge from its aging population. In 2020, around 17.8 percent of China's population was over 60 years old, and projections estimate that it will increase to over 40 percent by 2060. As a result, senior consumers are becoming an increasingly crucial segment of China's economy and consumer market.
Compared to younger generations, older adults in China are price sensitive. Their time and interest are better spent searching online for a cheaper bargain. Around 43 percent of the senior respondents from a 2022 Statista Global consumer survey stated that they were particularly interested in lower-priced smartphones. The online discounter Pinduoduo and Taobao Deals ranked among the most installed online shopping apps among those who were over 50 years old.
Another prominent trend amongst China's silver-haired in recent years was shopping events. A 2022 survey showed that, despite the inflation and pandemic, more than 73 percent of Chinese elderly took part in holiday shopping. In that year, middle-aged and senior users accounted for nearly half of Taobao's user increase during the Singles' Day sales.
China's silver-haired online surfers
The shopping behavior of China's senior population is deeply influenced by the country's rapidly changing technology landscape. In recent years, older people in China have become increasingly tech-savvy, embracing new products and services such as online shopping, mobile payment, and digital entertainment. As of 2021, there were more than 60 million active mobile internet users in China above 60 years old, nearly a quarter of the country's senior population. Instant messaging, e-commerce, and short video streaming were the most popular online activities among China's older adults.Compared to younger generations, older adults in China are price sensitive. Their time and interest are better spent searching online for a cheaper bargain. Around 43 percent of the senior respondents from a 2022 Statista Global consumer survey stated that they were particularly interested in lower-priced smartphones. The online discounter Pinduoduo and Taobao Deals ranked among the most installed online shopping apps among those who were over 50 years old.
Latest trends among senior consumers
The rising income and increasing consciousness of well-being have tremendous impacts on the elderly's consumption habits. In 2020, more than a fifth of elderly monthly spending went toward health and medical expenses, up from 13 percent in 2014. Products like functional food, dietary supplements, and medical devices are increasingly popular among the older generation in China. The majority of money spent on health-related expenses went toward dietary supplements and functional foods. In a 2022 survey, more than half of the senior consumers stated that they took nutrient supplements, and one in three confirmed that they increased the frequency of taking supplements after the COVID-19 pandemic.Another prominent trend amongst China's silver-haired in recent years was shopping events. A 2022 survey showed that, despite the inflation and pandemic, more than 73 percent of Chinese elderly took part in holiday shopping. In that year, middle-aged and senior users accounted for nearly half of Taobao's user increase during the Singles' Day sales.
