Better Business

Why businesses should pay more attention to mature consumers

A shop assistant puts shoes on a mannequin at a shopping mall selling luxury foreign brands, in Beijing February 20, 2013. Chinese shoppers account for one-fourth of all luxury purchases globally and last year surpassed U.S. consumers to become the world's top spenders on luxury goods, according to consulting firm Bain & Co. China has pledged to double household incomes over the coming decade in a bid to close a wealth gap so wide it threatens social stability. Although the proportion of extreme poverty has fallen over recent decades, about 12 percent of the country's 1.3 billion people still live on less than $1.25 per day, according to a 2013 United Nations report. Picture taken on February 20, 2103. REUTERS/Kim Kyung-Hoon (CHINA - Tags: BUSINESS SOCIETY WEALTH) mature consumers

Mature consumers already account for more than a quarter of global spending. Image: REUTERS/Kim Kyung-Hoon

Aparna Bharadwaj
Managing Director and Partner, Boston Consulting Group
Joanna Stringer
Managing Director & Partner, Boston Consulting Group
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Mature consumers already account for more than a quarter of global spending
Mature consumers already account for more than a quarter of global spending. Image: BCG
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The top 20% of mature consumers are happier, more active and less concerned about money than their peers
The top 20% of mature consumers are happier, more active and less concerned about money than their peers. Image: BCG
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