Marketing to Over-55s - China - February 2017


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Mintel

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Three misconceptions about senior consumers: assuming they tend to live the old fashioned way and thus think less about improvement and would pay more for premium or advanced product features just because they can afford and not recognising the diversity of the senior consumers in terms of their values and pursuits.

Table of Content

OVERVIEW

What you need to know
Covered in this Report

EXECUTIVE SUMMARY
The consumer
Tapping the potential of Chinese seniors, beyond health
Figure 1: Activities on which over-55s like to spend more time in the next 12 months, December 2016
Yet to take actions for chronic health issues
Figure 2: Health issues and different solutions, December 2016
Healthy living is not considered to be difficult
Figure 3: Health belief and trust on online information, December 2016
Figure 4: Eating behaviours and preferred food choices, December 2016
Figure 5: Perception on nutrition, December 2016
Figure 6: Opinions about staying young, December 2016
Figure 7: Role of physical examinations, December 2016
Definition for “healthy food”: less is the best
Figure 8: Important factors to define a healthy food, December 2016
Healthy diet: routines and ingredients are both important
Figure 9: Ways to achieve a healthy diet, December 2016
Traditional channels remain the highest relevance
Figure 10: Changes in shopping channels in the past 12 months, December 2016
Conventional but more open-minded
Figure 11: Desired image to the outside world in word cloud, December 2016
Three types of seniors
Figure 12: Consumer segmentation based on their attitudes towards life, December 2016
What we think

ISSUES AND INSIGHTS
Working past retirement age to support the offspring
The facts
The implications
Caring for the senior’s emotional wellbeing
The facts
The implications
Accommodating to seniors’ special shopping habits
The facts
The implications
Marketing communications should target not only senior consumers but also their children
The facts
The implications

DEMOGRAPHIC OVERVIEW
Changing to a more complex demographic picture
A significant proportion of young seniors are not protected by pension
Figure 13: Pension situation, by age and gender. December 2016
A considerable number of seniors stay in the workforce after retirement
Figure 14: Working status, by age and gender. December 2016
Figure 15: Comparison of working status of women aged 55-59 between 2015 and 2016, December 2016
A strong desire to financially support their children
Women, the unfairer sex?
Figure 16: Monthly personal income, by gender, December 2016

THE CONSUMER – WHAT YOU NEED TO KNOW
Being healthy, and more importantly, active
Rising opportunity in metal health improvement
Seeking familiarity and value-for-money options
Going with the basics
Traditional ways of selling rule

LIFE PRIORITY
Health is the top priority
Figure 17: Activities on which over-55s like to spend more time in the next 12 months, December 2016
Fun does not belong only to youths
Active aging
No more good sleep
Working out is popular among seniors
Sophisticated Seniors tend to live for themselves
Figure 18: Interested activities in the next 12 months, by consumer classification, December 2016

HEALTH ISSUES AND SOLUTIONS
Physical pain is a key health indicator
Figure 19: Health issues, December 2016
Mental health is a ticking bomb
Not very active in seeking treatments
Figure 20: Measures taken to deal with health issues, December 2016
Figure 21: Percentage of sufferers who take no measures for health issues, December 2016
Figure 22: Percentage of sufferers who take medicine for health issues, December 2016
Figure 23: Taking health supplement for health issues, December 2016
Females are more sensitive to illnesses
Figure 24: Health issues, by gender, December 2016
Target certain diseases at an early age
Figure 25: Comparison of health issues in 2015 and 2016, by age, December 2016
Sophisticated Seniors are more health-conscious
Figure 26: Health issues, by consumer classification, December 2016

ATTITUDES TOWARDS DIETS AND WELLNESS
Not sweat over living healthily
Figure 27: Attitude towards health management, December 2016
Like to eat in and eat familiar food
Figure 28: Eating behaviours, December 2016
Just being familiar is not enough
Healthy diets beat all
Figure 29: Preferred food choices, December 2016
New meaning of “value for money”
Limited knowledge about nutrition
Figure 30: Perception on nutrition, December 2016
Sophisticated Seniors are more open to new health concepts
Figure 31: Perception on nutrition, by consumer classification. December 2016
Figure 32: Health management, by consumer classification. December 2016

ATTITUDE TOWARDS AGING
Polarised opinions about aging
Figure 33: Opinions about staying young, December 2016
“Transforming aging” group: old is not a word in my dictionary
Figure 34: Interested activities, by consumer classification, December 2016
Figure 35: Perception on healthy eating, by consumer classification, December 2016
Figure 36: Perception on nutrition, by consumer classification, December 2016
Figure 37: Healthy eating habits and beliefs of transforming aging group when comparing to embracing old age group, December 2016
“Embracing old age” group: happy with traditional, familiar ways
Figure 38: Life meaning and priority, by consumer classification, December 2016
Figure 39: Perception on healthy eating, by consumer classification, December 2016
Figure 40: Healthy eating habits and beliefs, by consumer classification, December 2016
A big impact of traditional culture and values on Sophisticated Seniors’ view on aging
Figure 41: Attitudes towards aging, by consumer type, December 2016

HEALTHY DIET CLAIMS
Preferences are quite similar
Figure 42: Important factors to define a healthy food, December 2016
Less is the best
Natural beats organic
Slowness and moderation equal safety
Calorie concept is not widely accepted
Provenance does not make a big difference
Differences among demographics
Sophisticated Seniors are less into “added/more” claims

HEALTHY EATING HABITS
Freshness is the key to achieve healthiness
Figure 43: Ways to achieve a healthy diet, December 2016
A good eating habit is of great importance
Impact of gender, age and income
Sophisticated Seniors don’t have any special tricks to eat healthily

PURCHASE CHANNELS
Supermarket and food markets are the key channels
Figure 44: Changes in shopping channels in the past 12 months, December 2016
Most desired features of retailers: location and value
Online channels got potential
Figure 45: Trust on online information, December 2016
Sophisticated Seniors are more open to modern ways of shopping

IDEAL IMAGE
Intend to hide from the crowd
Figure 46: Desired image to the outside world in word cloud, December 2016
Living in the other people's eyes
Figure 47: Desired relationship with other people, December 2016
Desired images are different between genders
Sophisticated Seniors want to have a versatile life, rather than be more noticed and known

PSYCHOGRAPHIC OVERVIEW
Have a positive view on their lives
Figure 48: Any agreement (including strongly agree and agree) with the statement about attitude towards current life, December 2016
Figure 49: Strongly agree and agree on the statement that “it's a proud thing to stay healthy at my age”, by grandchild’s age, December 2016
Will gradually adopt new things
Figure 50: Any agreement (including strongly agree and agree) with the statement about acceptance to new things, by gender, age and monthly household income, December 2016
Conflicting behaviour in give their children more leeway
Figure 51: Any agreement (including strongly agree and agree) with the statement about expectation on children, December 2016
Polarised attitudes towards money spending
Figure 52: Any agreement (including strongly agree and agree) with the statement about future financial plans, December 2016

CONSUMER SEGMENTATION
Three types of over-55s
Figure 53: Consumer segmentation based on their attitudes towards life, December 2016
New experience seekers (??????): from anti-aging to smart aging
Figure 54: Acceptance to new things, by consumer segment, December 2016
Figure 55: Attitude towards current life, by consumer segment, December 2016
Figure 56: Expectation on children, by consumer segment, December 2016
Figure 57: Future financial plans, by consumer segment, December 2016
Tradition followers (?????): my children’s wellbeing matters most
Struggling thrivers (?????): tired of matching up to the changes
Figure 58: Expectation on children, December 2016
Figure 59: Perception on finance management of struggling strivers, December 2016
Sophisticated Seniors tend to be New Experience Seekers
Figure 60: Consumer segmentation based on their attitudes towards life, by consumer type, December 2016

APPENDIX – METHODOLOGY AND ABBREVIATIONS
Methodology
Abbreviations

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