The breakout news topic this year is undoubtedly AI and their future applications across different industries, but all technology originates from human needs. Ultimately, the purpose of tech development is still human-centric. With the integration of technologies like big data in brand marketing and AI algorithms, it seems easier to pinpoint and find the right audience and consumer segment. But is it really that simple? The success of brand marketing lies in converting potential consumers into paying ones; if a brand identifies its target audience but fails to capture them, then Gina believes this cannot be considered a success! 

The New Elderly and Second Life

A new term has recently emerged in the Chinese market: "New Elderly," referring to people aged 50 to 64 years old. This demographic represents a new generation of Chinese seniors embracing a fresh new perspective on life. They choose to live their "second life" according to their own desires, rather than relying on financial or emotional support from descendants traditionally. Similarly, in Taiwan, the 50-year-old demographic is considered middle-aged. Broadly speaking, the definition of "New Elderly" refers to a mature demographic entering their second half of life.

The New Elderly generation holds values vastly different from the post-war baby boomers. Unlike the generations before them, whom share the virtue of frugality and become more dependent on their children as they age, New Elders are a new generation that values independence and expects to manage their retirement on their own; this may stand as direct contradiction to pre-conceived notion of the middle-aged to elderly demographic, but it is pivotal for brand managers and departments to understand that past survey and consumer observations about the same demographic may not be reliable anymore. With the technological advancements of the internet and aviation, distance is no longer an issue. Whether through their mobile devices or travel by plane, the ways in which the New Elders wish to live their second life have drastically changed. This demographic is either entering retirement early or nearing retirement age, and being the generation that experienced economic boom globally, they have accumulated a solid financial foundation. Therefore, "lifestyle choice" is one of the most challenging decisions that the New Elderly generation faces, and this emerging market segment is the new essential market for products and services providers alike.


Internet and Sense of Community

According to a survey by Chinese media outlets, internet usage among this demographic is increasing annually. The ease of finding a sense of community online, particularly on platforms with diverse and interesting content like short videos, clips or reels, is of great interest. Word-of-mouth marketing, especially from peers, significantly influences their purchasing decisions. The segmentation of internet communities has increased rapidly, prompting Chinese platforms to design interfaces that are easy for the New Elders to use, thus boosting usage rates. "Stable retirement" has become a widely adopted concept among Chinese New Elders, with maintaining good health on their own being a top priority. Therefore, activities like hiking and mountain-climbing, as well as nutritional supplements, are becoming more common, thus directly increasing the market performance of health food and indirectly boosting sales of home exercise products. Given their focus on health, the tourism market has also seen heightened growth. It is evident that the New Elders’ attitude towards their "second life" is reshaping the consumer goods and services market.

The New Elderly generation adeptly uses mobile and electronic products primarily because they do not wish to be forgotten or excluded by their busy working descendants; their active learning of new tech products and social media platforms is driven by their need for family cohesion and a sense of being needed. 

Looking ahead globally, the New Elderly (aged 50-64) constitutes a large population, and not all of whom are retired; many are still actively engaged in the workforce, a situation mirrored in Taiwan. This age group remains vibrant, with some retirees pursuing second careers or new entrepreneurship/business ventures. For those still in the workforce, a great balance between work and leisure has become an absolute must. Both retirees and non-yet-retired New Elders share a common value of maintaining stability on their own, without needing help from their descendants, and both have cultivated their own social circles and environment. Amidst the fierce competition within the consumers’ goods and services market, how brands explore the New Elderly generation's fresh perspectives on their “second life,” and align their marketing efforts accordingly, is crucial to capturing a new market segment in the high-inflationary post-pandemic era.

[Special Column Blog Post by Brand Mentor Gina Chang]