Research On Elders Consumable Market

In the 21 century, population aging has become one of the great challenges throughout the world. According to statistics, currently there are 68 countries around the world entered the aging society, and by 2050 this figure will reach 175, which will occupy 91.6% of the world. This trend is irreversible, the situation of young people in the past would not occur any more. According to the international definition of the aging society, C hina had entered the aging society as early as in 1999. And the speed of aging is rather fast, according to statistics, at the end of 2013, a number of elderly people aged 65 and above in C hina reached 131.61 million accounting for 9.67% of the total population. What’s more, with the second baby boom population(i.e. born in the mid-1960 s to the 1970s) starts to e nter old age, C hina will witness a phase of accelerated aging between 2020 and 2050. The demand of the elderly is also a corresponding rapid growth, the elderly market potential is very huge.Although the country’s aging market has achieved good results after a period of development, compared to the huge market demand, the market supply is far from adequate. According to the National Working Committee on Aging statistics, the demand of C hina’s elder market was 1 trillion in 2010, while the product supply on the market provided less than 100 billion,less than one tenth.According to forecasts, by 2020 the elderly market demands will reach 2 trillion, and it will get to 8 trillion in 2030.Compared with other groups, the elderly consumer has a special nature, such as consumer attitudes, the choice of shopping sites, information channels etc. That are very different from other consumer groups. The essay analyzed the current situation and problems of the senile market development through the research and development of foreign markets elderly, drawing outstanding successful experience abroad. Combined with the theory of consumer behavioral science, the essay provided theoretical guidance and practical recommendations for the enterprises, so they can find the most suitable for the products and services for old people in terms of product, price, promotion and sales channels. By developing the elder market’s strongly, it could not only ease the economic pressure caused by aging to a certain extent, but also promote consumption and improve the consumption rate, which has great significance to the long-term development of China’s economy.