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China Has Great Potential in Tapping Market for Senior Citizens

  Xinhuanet China View

  China

  August 15, 2005  

China has a new and untapped marketplace waiting to be explored-its 140 million plus elderly population. 

The market for products targeted at the over-sixties crowd is "lagging behind", according to Li Baoku, president of China's Gerontology Development Foundation. Meanwhile, aging workers and employees are seeing significant rises in their incomes and pensions, as 45% of people aged 60-65 are still working. 

So far, the only elderly-tailored products in China are in the fields of medicine and tonics. 

However, China's demand for products for the elderly is estimated to be at 600 billion yuan (around US $74 billion), which evidently encompasses more than a few prescription pills. The supply for products targeted at the elderly, however, is scarce-only 100 billion yuan's (US $12.3 billion) worth of products was churned out in the last year.


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