Ageing Trends in Japan (and why it affects us) part 2#

Ageing trends in Japan (and why it affects us) part 2#

In my previous blog, I discussed the macro effects of an ageing population in Japan.  Now I will focus on the micro level and how this will affect the individual consumer.  This is designed to be a learning tool for other societies as well since what happens in Japan can very well be a leading indicator to what happens in other societies.  Here are some examples of how elderly trends are transforming consumer purchases. 

Eating out:  Elderly people like to eat out, but are less likely to spend a great deal of money on meals.  The trend has been for high end but affordable restaurants.  a chain of restaurants run by Value Create is serving up top-end French and Italian food designed by “super chefs” in a bistro environment. (Japan Pulse)

Food: the ageing population is focused on preserving their health through food, they are particularly concerned about hypertension prevention and improvement in their blood glucose levels.

Value purchase: “As the aging society proceeds, elderly people are re- evaluating such retailers like convenience stores that sell small packaged foods” said Fujiwara. “The elderly people buy things that have value even if the price is high. They are the group which has that financial power.” (Bloomberg)

Shopping environment:  Ageing shoppers are forcing retailers to retool their businesses. Daiei, based in Tokyo, is slowing escalators to two- third of the speed of regular ones and employing lighter shopping carts using aluminum at some stores. (Bloomberg)

Exercise:  Hobbies for elderly but active women are hiking mountains and going fishing. These women begin their pursuits by buying all the latest fashionable equipment for the respective activities at specialty sports stores.  Marathon running is a sport which is very common among elderly citizens and requires special running attire and paraphernalia

Tomato diet:  A diet fad surfaced in 2012 with the appearance of the tomato boom. It was kicked off by the publication of a study that appeared to indicate consuming large amounts of tomato juice would help alleviate metabolic syndrome.  The trend has slowed down but was still quite popular. 

Adult Diapers:   The market for adult diapers is growing in Japan and is expected to continue for some time.  Companies can focus on adult diapers which are comfortable and less obvious in order to capture market share and establish a successful brand.

Transportation:  Automobile driving is designed for people with average reflexes.  Elderly people drive less due to poor eyesight and reflexes.  Japan is focusing on bus services for elderly people to public transportation.  Some suggestions have also been to slow down the time that doors close on subways to accommodate seniors. 

 Social gatherings:  Increased efforts to include elderly in social events will be important.  Elderly people value families so technology to enable more family interaction will be important.  Some 180,000 Japanese live in “Alzheimer Group Homes” and about 2 million (the majority with some dementia) regularly attend adult day care — far higher numbers for these services than in any other country.

Beverages:  A popular drink in Japan among older people, and among the 30 to 40 year old demographic, was a drink called Mets Cola by Kirin which helps reduce the absorption of fat.

(photo by dantada on Morguefile)