What interests our readers?
Everything! Just because you turn 50, or turn 65, doesn’t mean you stop living or consuming. Seniors are interested in travel, health, fitness, housing, fashion, anti-aging products and processes, retirement strategies and options, to name just a few. Don’t limit their experience - seniors of today are not like the seniors you may have grown up with.
Today’s seniors are active, vibrant, fun-loving and industrious people who are living life to its fullest. They are trekking through the Himalayas, pumping weights, running marathons, building and furnishing dream homes, starting businesses, buying designer fashions, and indulging in invigorating health spa experiences. They may be 65, but they feel and live like 50 year olds (or younger). They don’t see age as a limitation, it’s just a number...but they’ll take that senior discount, thank you very much! Don’t overlook this consumer group.
They have money and influence, love to experience new things, look for quality and appreciate good service.
50+ women spend more than 12 hours per week watching TV and more than 5 hours reading print newspapers or magazines, significantly more time than their daughters in Generation X and Y. They also read more magazine titles.
"Never before in history have seniors been looked upon as being such an important component of Canada's economic well being. If current trends continue, senior citizens will gradually dominate most markets over the next 30 years in Canada." - The Economic & Development Journal of Canada
Can you afford to ignore this market segment?
The fastest growing demographic in Canada...
- In 2000, 1 out of every 8 people in Canada was age 65 or older. By 2025, 1 in 4 Canadians will be over 60.
- In 2010 (the year of the Olympics), 60% of Canadians over 50 had a surviving parent.
- By 2016 at the latest, Canada will have far more seniors than children age 14 and under - a phenomena never recorded. This represents a 36% increase in ages 45+ from 2001 to 2016 and a 16% decrease in ages 0 to 44 from 2001 to 2016.
- How does this translate into locally in BC? The percentage of adults over 50 in 2013 was: 39% in Greater Vancouver, 58% in White Rock, 47% in Victoria, 54% in Nanaimo, 72% in Qualicum, and 59% in Courtenay.
The wealthiest demographic in Canada...
- Seniors and pre-seniors (50+) are responsible for more expenditures than any other group in Canada - over $35 billion a year.
- They control 55% of the nation's discretionary spending power.
- They have an income per capita that is 26% higher than the national average.
- They own 80% of the wealth in financial institutions.
- They own 50% of credit cards.
- They account for 80% of all luxury travel.
- They are the fastest growing segment on the Internet and spend more time online than teenagers.
- They travel more frequently than any other age group and stay longer: 46% travel by car; 42% travel for relaxation; 32% travel for adventure.
- They buy an average of 13 cars over a lifetime; of those, 7 are purchased after the head of the household turns 50
- They buy 41% of all new cars and 50% of all luxury cars.
- They purchase 25% of all toys.
- They purchase over half of women's apparel.
- They contribute to a 30% per year increase in anti-aging skin care products.
- They spend more money online than younger generations, especially clothing, home décor, health and beauty products and travel services
- They purchase more from catalogs, malls and department stores than younger generations.
- They are 70% more likely to own a second home or vacation home than the younger generations.
- They are the fastest growing demographic for health club memberships.
- They are the main contributors to a boom in boat sales.
- 88% donate to charity, and 30% are in the top donor category, contributing over 20% of the total value of all donations.
Active, healthy and living longer...
- Seniors spend 74% more on a typical vacation than other age groups.
- Membership in fitness clubs increased 266% from 1987 to 2001.
- Adventure tourism is increasing among 50+ travelers. Older people can be found riding elephants in India, horseback riding in Costa Rica and bungee-jumping in New Zealand.
- Older adults show a strong interest in the learning and personal growth opportunities that travel can provide.
- Less than 5% of the age 65+ population is in nursing homes. In the over 55+ age group, the figure drops to 1%.
- The average age on admission to a nursing home is 83 years old.