The Rising Influence of Rising Affluence

[DewDiligence]

(ABT)—Multinationals market to China’s “boomers”:

http://www.wsj.com/articles/tapping-chinas-silver-hair-industry-1421706643

Companies looking to make money off Chinese consumers have for years targeted lucrative niches like the young and the rich. Now many are eyeing a different market: the elderly.

…The companies are after…people born during a Mao Zedong-inspired baby boom that took the country’s population to nearly one billion people in 1980 from 542,000 in 1949.

…The boomers are now hitting old age: China’s over-65 population is projected to soar to 210 million in 2030 from 110 million, and by 2050 will account for a quarter of China’s total population…

…“What has us interested…is that half a billion people over the age of 60 will be living in China over the next 35 years,” said Scott White, president of Abbott’s international nutrition division.

…Abbott has spent the last six months setting up distribution in more than 11,000 retail outlets and pharmacies across China. For Lunar New Year, a prime gift-giving season, the Illinois-based company is stocking retail shelves with special gift sets of Ensure, a senior nutrition drink.