Three: The Future
When I began researching the Silver Economy, examples of effective communication with mature customers were scarce. While we are not yet in an ideal scenario, there is a growing number of marketers and creative campaigns aimed at reaching Silver customers.
During the last Super Bowl, mature actors were prominently featured in advertisements. Notable figures like Will Ferrell, Sylvester Stallone, and Alicia Silverstone tried to persuade U.S. customers to purchase subscriptions to platforms like Paramount+ and Rakuten, new cars from General Motors, Uber One, Booking.com, and more. Remarkably, mature actors were employed to promote new-economy brands, such as streaming platforms and e-commerce.
Japan, the world's oldest country, not only generates innovative ideas but also implements successful solutions in the Silver Economy. For instance, Tokyo was among the first cities to address the ecological issue of large quantities of adult diapers. While it may sound unconventional, the problem of non-decomposed diapers posed a significant health hazard. Tokyo resolved this problem by using them as a fuel source for power stations.
China has implemented a nationwide system to enhance the accessibility of key digital applications and websites for older citizens. By creating a common set of navigation icons, navigation rules, improving visibility, and other measures, they have made online interactions more user-friendly for older individuals. Notably, China has mandated these changes not only for government websites but also for popular e-commerce, travel, banking, health service apps, news, and entertainment platforms. This initiative aims to create the largest online Silver Economy in the world.
These examples are just the tip of the iceberg, as more are emerging every day. The Silver Economy is thriving, presenting both significant risks and opportunities for current market leaders, challengers, and newcomers.
Author: Wojciech Kowalczyk