Nowadays, most of the consumer market is in the young people’s market, but it has neglected that there is still such a large market waiting for us to deepen our cultivation. This market is the “silver-haired economy”. The silver economy is also known as the elderly industry and the aging industry. It is an industry dedicated to the consumption of the elderly due to the aging of the society.
With the deepening of global aging, the “silver economy” will become a very large market and even a new engine for economic development. If you still can’t imagine, let’s look at the Japanese example.
01 Create a differentiated experience to win the “Silver Hair Market”?
Club Tourism of Japan, which only does business for the elderly, makes a steady income of 10 billion yuan a year! What is its business model? Why is the business model of Club Tourism successful?
Club Tourism, through the establishment of the Institute of Tourism and Culture, uses paid lectures to provide learning experience courses on culture, music, songs, and dances from all over the world. It also opens a coffee shop business, which is actually a hobby salon and will host various activities, such as amateurs. Hobby courses and travel briefings, etc., meet the social, spiritual and cultural needs of the elderly. The travel centers in various regions also hold regular insurance seminars, mainly including medical insurance, life insurance, property insurance, and other categories to increase contact with customers. Points provide added value for the product.
At the same time, it is also quite characteristic in marketing. In addition to the common advertising and store methods, customer retention is mainly carried out through the publication of the member magazine “Friends of Travel”. Members can receive the “Friends of Travel” magazine for free every month. Club Tourism hires enthusiastic members as delivery workers, allowing them to distribute the magazine to members near their homes, relatives, friends and neighbors. Because this job is related to tourism and can earn some pocket money, it is very popular among silver-haired members. There are more than 8,000 volunteers active in Tokyo.
“Friends of Travel” has naturally become a link between Club tourism and users, creating a refined development model. This method not only reduces the transportation cost of “Friends of Travel”, but also increases the loyalty of users to Club Tourism, allowing them Sign up for travel itineraries more enthusiastically. By establishing a direct-to-user marketing channel, it penetrates into the user’s daily social activities, turning members into delivery men, and making use of the circle of acquaintances for social fission.
02 Examples of other silver hair economy in Japan?
2.1 Curves gym
It only accepts women, not men; it serves middle-aged and elderly women. The average age of members is 61 years old, among which the oldest user is as high as 101 years old. There is no mirror in the gym. There is no so-called private tuition fee, and all free guidance. This gym has more than 800,000 members. In 2016 alone, Curves’ net income was as high as 1.3 billion yuan. With 1760 branches, it is said that a new store opens every 4 hours on average.
2.2 AEON GG MALL
Shopping malls are generally a paradise for young people and children. But there is a shopping mall in Japan, and the elderly are rushing to go!
In GG MALL, everything is centered on the elderly. Elderly people sleep less and get up early in the morning. For this reason, GG Mall’s business hours are deliberately advanced two hours, and the door opens at 7 in the morning. GG Mall has insight that many elderly people have the habit of morning exercises, so a 45-minute fitness exercise class was organized for them in the morning for free. Organized by the staff of the mall, hundreds of senior citizens participate every day. Shopping, socializing, sports, learning courses, making crafts…contains various entertainment scenes. It is not only a shopping paradise for the elderly, but also a good place for their entertainment and socializing. Created an immersive consumer experience for the elderly, one-stop solution to the needs of the audience for eating, drinking and playing, subverting the outside world’s perception of shopping centers.
In fact, GG MALL sells products or services, it is a superficial phenomenon. Selling a healthy and optimistic lifestyle is its essence.
2.3 Japanese robot company Vstone
In order to make up for the lack of emotion of the empty-nest elderly, Japanese robotics company Vstone launched a baby robot-Hiro-chan (Hiro-chan), which aims to provide the elderly with a sense of emotional connection. There are no facial features on his face, although It’s not terrible, but there is always a strange feeling. According to the official statement, it can have a healing effect on the empty-nest old man.
Interestingly, Vstone found in product testing that even if A Kuan “has no” front face, he is still very popular.
2.4 Joyreha, a Japanese elderly sports prevention chain company
Joyreha mainly develops a set of more scientific nursing methods to prevent the aging of the body structure of the elderly and delay the entry into a disabled and semi-disabled state. The elderly users here are mostly semi-disabled, or elderly people with partial rehabilitation needs. The majority of them are elderly people aged 75 or even 80 years old. There are also many people who come here in wheelchairs. Joyreha Door-to-door shuttle service is also provided.
2.5 Japanese Karaoke Company-Manekineko
This Japanese karaoke company has more than 500 chain stores, and it is mostly elderly people during the day. However, this KTV is actually very interesting and its cost control is extreme. It’s not so much a KTV as it is a catering company. The food is very rich, Japanese food, Western food, pasta, all kinds of pasta and rice are very rich, but the price is very close to the people.
2.6 New Keio Department Store in Japan
New Keio Department Store is a shopping mall leaning towards mid-to-high end. There are a lot of elderly products, especially on the clothing layer, and the customer orders are relatively high-end. There are many categories of clothing for the elderly and shoes for the elderly. Clothing and shoes are differentiated in terms of style design, material selection, styles, marketing methods, etc., so that the elderly can enjoy the elegant fashion, which is very popular among the elderly.
03 Let’s take a look at which tracks are the opportunities for the outbreak of China’s silver-haired economy?
Following the “her economy” and the “single economy”, the “silver economy” is becoming the hardest new consumer power. It is not only an opportunity for businesses, but also the key to the expansion of domestic demand and promotion fees for the national economy.
Social and entertainment for the elderly have become the new blue ocean. With the rise of the Internet, more and more elderly people are gradually joining, and they spend a lot of time on the Internet. Nowadays, children spend very little time with their parents, and the loneliness of the elderly is getting stronger. A social platform is needed to balance this loneliness and release emotions. In recent years, the popularity of short videos has allowed silver-haired people to discover the ” New World “. In the head short video APP, a group of elderly Internet celebrities have emerged. Their optimistic, positive, and distinctive images have also found many silver-haired people here to find a sense of belonging.
The elderly are more inclined to keep pets. For the elderly who live lonely and need emotional comfort, keeping pets can also reduce social isolation, reduce boredom, inject vitality into ordinary life, and give the elderly a certain emotional attachment.
The elderly tourism market segment needs to be intensively cultivated. Although the market is vast, there are not many domestic products that are truly suitable for senior travel. For example, the so-called targeted products developed by some OTA platforms are mostly themes of “historical travel” and “healthy travel”, and the homogeneity is relatively serious, and the tourism consumption needs of the elderly have not been met.
The consumer market is not only limited to young people. The elderly group is an emerging demographic dividend. After reading the case of the silver-haired economy, what good business ideas do you have?
The pictures in the article are from the Internet
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