As China’s population continues to age, the silver economy is emerging as one of the country’s most promising economic drivers. Currently valued at nearly $982 billion USD and contributing 6% to the nation’s GDP, the sector holds immense potential for growth[1]. By 2035, China’s silver generation is expected to surpass 400 million people. [2][3] This demographic shift presents vast opportunities for businesses to cater to their evolving needs. But how can businesses adapt to this growing market, and who will lead the way in unlocking its full potential?
A Changing Landscape: Urbanization and Digital Proficiency
The rapid urbanization of China’s silver generation has significantly reshaped their consumption patterns and lifestyles. Today, a substantial portion of older adults live in urban areas, where they enjoy better access to infrastructure, healthcare, and digital technology. Unlike previous generations, many of today’s seniors are embracing digital tools to enhance their daily lives.
With 153 million internet users in China are aged 60 and above, China’s silver generation represents 10.4% of the country’s total online population[4]. This growing digital presence has transformed older adults into a powerful consumer group in the e-commerce space. Platforms like JD.com and Taobao have seen substantial growth in transactions from this demographic, with spending by seniors on JD.com increasing by 238% compared to 2019[5]. This trend is further fuelled by rising disposable incomes, often driven by pensions and the appreciation of real estate values, which give seniors greater financial freedom to explore new consumption avenues.
Health, Wellness, and Leisure Take Center Stage
Health and wellness are central to the spending priorities of China’s silver generation. As individuals age, they tend to focus more on maintaining a higher quality of life. Post-pandemic, this focus has only intensified, with seniors taking proactive steps toward disease prevention, regular health checkups, and investing in health and wellness products.
In 2023, the health supplement market in China reached a valuation of $45.5 billion USD, with a robust annual growth rate of 8.43%[6]. Beyond supplements, the fitness sector has seen a surge in popularity, particularly among older adults. Equipment tailored to their needs, such as Xiaomi’s electric treadmills, has become a staple in many households. These treadmills prioritise safety features, including anti-slip surfaces, easy-to-use controls, and adjustable speeds, making them ideal for elderly users who wish to remain active without compromising their safety.
Retirement Reforms and Evolving Spending Habits
China’s decision to gradually raise the retirement age by 2025[7] is set to reshape the silver economy further. With older adults staying in the workforce longer, their spending patterns are expected to evolve to reflect the demands of a more active lifestyle. Wellness programs, health supplements, and leisure activities tailored to working seniors are likely to see heightened demand.
Convenience-oriented products have already made significant inroads among this demographic. For instance, powdered milk has seen a surge in popularity, driven by its nutritional value and convenience, with sales rising by 57% since 2023[8]. As lifestyles become busier, products that combine practicality with health benefits are set to thrive in this market.
The Role of Digital Technology in Redefining Senior Lifestyles
The silver generation’s embrace of digital technology extends far beyond e-commerce. Social media platforms and apps have become vital tools for seniors to stay connected, learn new skills, and access entertainment. Recognizing the unique needs of this demographic, many platforms have developed senior-friendly versions with features such as larger text sizes, simplified home screens, and intuitive navigation to make the online world more accessible[9]. This digital integration offers businesses unique opportunities to engage directly with older consumers, using targeted marketing campaigns to address their specific needs and preferences. From health-monitoring wearables to online fitness classes, technology is playing an increasingly central role in enhancing the lives of Chinese seniors, bridging generational gaps and fostering a more inclusive digital ecosystem.
The Rise of Experiential Consumption
In addition to material goods, experiential consumption is gaining traction among the silver generation. Travel, cultural activities, and group classes focused on hobbies or wellness are becoming increasingly popular[10]. Businesses that offer curated experiences tailored to older adults, such as wellness retreats, guided tours, or art classes, stand to benefit greatly from this trend. Moreover, these activities align with the growing cultural emphasis on active aging[11], which promotes staying engaged and fulfilled in later years.
Opportunities for Businesses in the Silver Economy
China’s silver economy represents a dynamic and multifaceted market with vast growth potential. Understanding the evolving needs and priorities of this demographic is crucial for businesses looking to succeed in this space. From health-conscious products and digital innovations to leisure-focused experiences, the opportunities are as diverse as the population itself.
Contrary to stereotypes, China’s silver generation is adapting rapidly to technological and societal changes, supported by companies designing solutions specifically for their needs. Senior-friendly versions of apps and products have encouraged their openness to new consumption trends and willingness to explore innovative products and services, making them an indispensable segment of the market. Businesses that can anticipate and respond to these shifts will be well-positioned to lead in this thriving sector, unlocking both economic value and social impact.
[1] https://time.com/6555949/china-silver-economy-aging-population-plan/
[2] https://www.reuters.com/world/china/china-rolls-out-plan-tackle-growing-issue-dementia-2025-01-06/
[3] https://english.news.cn/20250102/92d63633a4a940568a46868a420470df/c.html
[4] https://jingdaily.com/posts/chinas-hyper-online-elderly-to-spend-750-billion-by-2035-how-can-brands-tap-in
[5] https://jdcorporateblog.com/jd-com-report-chinas-silver-generation-adopts-youthful-shopping-trends/
[6] https://www.china-briefing.com/news/chinas-health-supplements-market-trends-and-opportunities-for-businesses
[7] https://english.news.cn/20250102/92d63633a4a940568a46868a420470df/c.html
[8] https://www.yicaiglobal.com/news/chinas-demand-for-milk-powder-for-middle-aged-elderly-people-rises
[9] https://jdcorporateblog.com/jd-com-report-chinas-silver-generation-adopts-youthful-shopping-trends/
[10] http://en.people.cn/n3/2023/1229/c98649-20116376.html
[11] https://www.aarpinternational.org/initiatives/aging-readiness-competitiveness-arc/china
