The silver generation is becoming increasingly popular in the 21st century (Getty Images)
One of the greatest advances of the 21st century is the increase in life expectancy. According to the United Nations, the population is growing by four months a year, and it is estimated that by 2036 there will be more people over the age of 60 than under the age of 10. Furthermore, by 2050, half of the population will be over 50 years old.
These international numbers were shared by Guillermo Oliveto, consumer expert and CEO and founder of consulting firms W and Alma Trends, during a panel entitled “Silver Generations Over 50” at the Latin American Silver Economic Forum. It was taken into account in the presentation of the report made. It was held yesterday at Palacio Libertad (formerly CCK) in Buenos Aires.
Mr. Oliveto presented the latest figures on the impact of the +50 generation on the consumer market, highlighting the relevance of the global spending of the Silver generation, who have increased purchasing power and prefer products and services tailored to their needs. .
“The Silver Generation, which includes the Silent Generation, Baby Boomers, and Generation X, makes up 25.5% of the world’s population and generates 40% of global consumption. Yet their influence on the market has proven to be extremely important, yet too much focus has been placed on centenarians and millennials, while the potential of the silver generation has been ignored. “There are,” Oliveto said.
Oliveto shows one of the elaborate graphics that shows the weight of today’s silver generation.
As mentioned earlier, the silver generation or “silver generation” today accounts for 40% of global consumption (worth $23 trillion, making it the third largest economy in the world). That’s not all. +50 will reach 44% of the world’s population by 2030 and 50% by 2050. In Argentina, they already account for 35.5% of the total population.
“If we look at the statistics, we see that the share of silver in our country’s consumption is high, over 35% across all categories,” the CEO said, adding that this generation will continue to drive industries such as tourism, health and technology. He emphasized that it is being rebuilt. , in addition to promoting new business models.
The rise of the current silver or +50 generation
Another phenomenon that is occurring in different parts of the world is that as people live longer, birth rates are falling more and more, Argentina being no exception. Around the world, life expectancy is increasing by four months a year, but birth rates are decreasing by 40%. He also revealed that this is a determining factor in the purchasing power of this silver generation in the domestic market.
“A new longevity means a shift in mindset in how we think, live and buy. And the influence of this new generation is not limited to classic categories, but cuts across all consumption. ,” Oliveto said.
Junk food vs. health, food and longevity, processed foods and natural foods (Illustrated image information magazine)
Mr. Oliveto emphasized the difference between trends and fashion: “Trends are often confused with fashion. The trends of the last few years or even decades have been vibrations.” In this sense, he suggests that age is redefined as an attitude and a lifestyle, a resignation to longevity. Emphasized macro trends. “Age breaks the classical chronology and becomes a trace,” he explained.
And he identified four key trends emerging from this new longevity.
From Old to Bold: “New longevity is vitality.” This is a concept that advocates activity, dynamism, and energy in the most advanced stages of life. “It takes a long time to grow young, Pablo Picasso said. Today, the new longevity is one with vitality, vitality, vitality, vitality,” Oliveto said, adding that “years are no longer a burden. “It is valued and valued.” New longevity leads to new opportunities. From anti-age to pro-age: The view of old age changes from a “if you’re not aging, you’re dead” mentality to one that emphasizes action. as an irreplaceable asset. The new longevity is a combination of experience and charm, ‘wise sensuality’ The new trend is to embrace your age and live to the fullest (Getty Images).
“Today, we see top brand beauty and cosmetics companies using over 50 models to promote their products.Today, beauty has no age limit. It is recognized with the idea of celebrating every year. More than perfection, what is needed now is a period of perfection. Therefore, new longevity is a wise experience. emphasized.
The silver economy, on the one hand, focuses on economic activities that respond to the needs, interests and demands of older people, such as health, well-being, adapted technology and leisure services. And on the other hand, it promotes the financial independence of the silver generation (over 50 years old), allowing older people to remain active, productive and key contributors to the market.
“Humans have spent 100 years making a living, but this challenges us to rethink the way we live and consume,” Oliveto concluded.
Global statistics on the world’s population and its share in consumption
The next panel, “Third World Economies Will Revolutionize Consumption: New Opportunities for the Silver Generation,” reinforced the concepts raised by Mr. Oliveto.
Renowned marketing and communications leaders discuss the impact of the silver generation on the global economy and how this generation will redefine the marketplace. Journalist Monica Gutierrez highlighted the change in expectations about life: Would you like to believe that the average lifespan can reach 100 years? ” Based on this premise, experts agreed that increasing longevity is changing the consumption and behavior of this generation.
Nadine Pavlovsky, Marketing Leader at SEF, explained the lack of specific information regarding silver marketing in Latin America and the need to leverage the purchasing power of this group, which accounts for 37% of consumption in the region. “Only 15% of companies do so,” he said. There are also products designed for silver. ”
Ariel Hajmi, CEO of Kantar IBOPE Media, emphasized that the silver generation is one of the most important demographics in the use of digital media and streaming platforms. In a similar vein, María Laura Amoros, marketing manager at Despegar.com, highlights that 40% of sales come from this generation, and Leonel Piraino from Banco Provincia says that 38% of his portfolio is silver. It has been revealed that it belongs to the department.
The silver generation is gaining more and more presence and importance in the market (Freepik)
Finally, Maite Iglesias of L’Oréal, CEO of Wines of Argentina, spoke about the impact of overall health on well-being and the importance of visualizing stages such as menopause. ) Magdalena Pesce emphasized the important role of the silver generation. Focusing on wine consumption and wine tourism, he said this sector is becoming the main focus of the wine industry. Based on this premise, experts agreed that increasing longevity is changing the consumption and behavior of this generation.
Nadine Pavlovsky, Marketing Leader at SEF, explained the lack of specific information regarding silver marketing in Latin America and the need to leverage the purchasing power of this group, which accounts for 37% of consumption in the region. “Only 15% of companies do so,” he said. There are also products designed for silver. ” Ariel Hajmi, CEO of Kantar IBOPE Media, highlighted how the silver generation is one of the most important segments in the use of digital media and streaming platforms. In a similar vein, María Laura Amoros, marketing manager at Despegar.com, highlights that 40% of sales come from this generation, and Leonel Piraino from Banco Provincia says that 38% of his portfolio is silver. It has been revealed that it belongs to the department.
