The wealth and revenues of the over 65's in Europe is over €3tr.
The 50+ age group has more discretionary income than any other demographic.
Declared revenues of the over 65's in Ireland is €6.6bn.
The over 50's account for 75% of the wealth in the EU and account for half of all consumer spending.
Despite their wealth and level of consuming spending only 10% of marketing campaigns target the over 50's.
The over 50's market will be 1/4 of the worlds population by 2015
Across Europe, over 50s are joining gyms at a faster rate than any other age group.
The Business of Ageing Partnership is a not-for-profit initiative involving a number of members of the Ageing Well Network – www.ageingwellnetwork.ie – Intel, IBM, Chambers Ireland, Amarach Research as well as Stillwater Communications and Animo Television.
The Ageing Well Network is an independent leadership network, funded by Atlantic Philanthropies, which brings together the heads of organisations across the private, public and voluntary sectors, who between them have the authority and influence to realise a shared vision
“An
The Network is not an advocacy body, and does not lobby or take up public positions. Instead, it operates as a ‘think tank’, a knowledge community of experts and opinion formers, coming together to explore critical issues and share expertise among those who are in a position to influence
Its meetings allow members to test and debate ideas, access the latest research and policy developments from
To make
Traditional policy responses have dwelt on the escalating costs of healthcare for older people, stereotyping them as frail and dependent, although most lead healthy and active older lives, requiring some support but not major medical intervention or long-term care. This fast growing cohort of older people in our communities offers a ‘demographic dividend’ with potential benefits for the whole of society.
The network seeks to explore new approaches to addressing these challenges in ways that places the needs and preferences of older people at the heart of decision making. But it also seeks to ‘flip’ the ‘burden of ageing’ paradigm to identify the opportunities and show how they can be exploited.
One such obvious area is business. The projected growth in the older consumer market, their wealth and purchasing power and their changing needs and preferences open up important new opportunities for businesses in the global market. So too does the need of our health and care service providers for new technologies and devices to cope with the expected growth in demand.
The Business of Ageing Partnership believes that businesses in Ireland are well placed to respond to these opportunities but to do so they need a deep understanding of what those needs and preferences are and how best to address them.