In China’s aging population, the definition of retirement is changing. Daxue Consulting’s latest analysis reveals how the “Silver Economy” is moving from a societal challenge to a dynamic, multi-trillion-renminbi market of health, lifestyle, and digital demand.
Download our China Silver Economy Report here:
Key findings on China’s silver consumers:
- By 2040, China will have over 400 million citizens aged 60+. They form 28% of the population and a high-spending consumer bloc.
- Today’s retirees prioritize quality of life and are spending on travel, wellness, and leisure rather than just saving, with per capita output reaching RMB 46,333 per senior in 2024.
- 90% of seniors prefer to stay at home. This fuels demand for community-based services, meal delivery, and smart home solutions over nursing homes.
- Spending is shifting from treatment to prevention, boosting markets for functional foods, Traditional Chinese Medicine (TCM), and wearable health tech.
- Seniors are spending over 4 hours online daily. As such, platforms like Taobao are launching “Elder Mode” and dedicated shopping hotlines to capture their spending.
- Paid hobby courses and silver-haired influencers are booming, transforming community building and social connection into a premium service sector.
- The domestic silver tourism market is booming, driven by demand for slow-paced, wellness-focused group tours and nature retreats.
- Initiatives like Healthy China 2030 and the national elderly care system are creating a supportive framework for private sector growth in health and wellness markets.
