Grey Power: Business finally Waking up
There’s money to be made out of an ageing population, according to a new report by Bank of America-Merrill Lynch.
“Investors would be wise to look to the companies that will provide the goods and services that an older demographic will demand in the coming years,” reports Eryk Bagshaw in the Financial Review.
This will come as no surprise to our members, as we know FiftyUps are often overlooked by business despite being Australia’s best customers.
For many businesses FiftyUps are lower risk, more loyal, more reliable and even better looking (just checking you’re still reading) than younger demographics.
And with more than 50 per cent of Australia’s household wealth it’s surprising corporate Australia haven’t done more to offer the products and services FiftyUps deserve.
The research by the Bank of America highlights a number of areas that could benefit from an ageing population including pharmaceuticals, healthcare, financial services and travel.
We’ve known for years Australia’s population is ageing, due to greater life expectancy and declining birth rates. With families having fewer children and people living longer 1 in 3 Australians are now aged 50 and over, according to recent census data.
Here at the FiftyUp Club we welcome any business investment geared towards supporting FiftyUps and we will continue to advocate for our 80,000 strong membership so they can get better products and services. The products and services they deserve.
