IN POPULAR AMERICAN show on Netflix Grace and Frankie, a retired cosmetics baron and a hippie artist are forced to live under the same roof when they get to know that their husbands are in love and want to get married. The series goes on to show how the two septuagenarians navigate life independently. Not only do they go for indulgent holidays and steamy dates, they also launch their business venture, Rise Up, to make hydraulic-powered toilet seats for the elderly.
Though the show is a comic interpretation of Grace and Frankie’s adventures and misadventures, for marketers, it is smartly-woven around an important cohort of consumers — the senior citizens — a $7-billion market in the US. The nascent market is now booming in millennial-obsessed India as well.
Around 120-million Indians, according to a Deloitte report are above 55. The figure is estimated to rise to around 300 million by 2050, accounting for 20 per cent of the overall population. Spending by senior citizens is predicted to increase from $100 billion in 2020 to almost $1 trillion by 2030. What makes this cohort lucrative is their high disposable income and willingness to spend on themselves.
Spending Power
Of the 120-million elders, about 40 million stay in urban areas, and over 50 per cent of them have the ability to spend ₹40,000-50,000 a month. With a bank balance to boast about, they are as aspirational as the millennials. From financial services to personal care products and from hospitality to gadgets and even real estate, companies are increasingly beginning to tailor-make products for these consumers.
Bu hikaye Business Today dergisinin July 25, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today dergisinin July 25, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
"Moving to cloud helped us grow❞
What was the problem you were grappling with?
She's Got Time
MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP
RISING STAR
PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.
Building on a Legacy
WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.
LEADER IN INNOVATION
AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.
WAITING IN THE WINGS
Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025
A DECENT PROPOSAL
IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?
Women and the STEM Bias
EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.
ROCKET WOMEN
WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.
ONE STEP FORWARD
THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.