Chance to tap into ‘silver market’ in China
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With its rapidly ageing population, China offers the world’s largest “silver market” – and trade shows are seen as the best way for foreign companies to start to tap into these consumers.
About one third of the Chinese economy is now “silver”. There are more than 220 million people 60 years and older – more than the populations of France, Germany and the UK combined. This is set rise to 480 million by 2050 – about a quarter of the world’s elderly.
This growing consumer segment has greater spending power, more leisure time and improved lifestyles, according to Intex Shanghai, which is the lead organiser for the annual ChinaAid exhibition, which will have its 17th edition at Shanghai New International Expo Centre (SNIEC) from June 8 to 10.
Managed by the Shanghai Ageing Development Center, the show is supported by the Ministry of Civil Affairs of the People’s Republic of China and such organisations as the China National Committee on Ageing. Other organisers include the Shanghai Municipal Committee on Ageing, China Silver Industry Association and the Shanghai Health Industry Development Association.
Offering promotional and networking opportunities for businesses seeking a foothold in China, the show has had 66 per cent growth over the past three years.
Questions & Answers
Q.How large is China's 'silver market' currently, and how is it expected to grow?
How large is China's 'silver market' currently, and how is it expected to grow?
Currently, the 'silver market' accounts for about one third of the Chinese economy, with over 220 million people aged 60 and older. This segment is projected to reach 480 million by 2050.
Q.What advantages do older Chinese consumers offer businesses looking to enter this market?
What advantages do older Chinese consumers offer businesses looking to enter this market?
This growing consumer group possesses greater spending power, more leisure time, and improved lifestyles. Trade shows are considered the most effective way for foreign companies to engage with them.
Q.Which organisations support the ChinaAid exhibition?
Which organisations support the ChinaAid exhibition?
The exhibition is managed by the Shanghai Ageing Development Center and supported by the Ministry of Civil Affairs of the People’s Republic of China, the China National Committee on Ageing, and others.
Q.What has been the recent growth of the ChinaAid exhibition?
What has been the recent growth of the ChinaAid exhibition?
The ChinaAid exhibition has experienced significant growth, showing a 66 per cent increase over the past three years. It offers promotional and networking opportunities for businesses.
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