Packaging firm Tetra Pak has published a consumer study that highlights the opportunities open to food and beverage firms when targeting the senior market, i.e. those aged 60 and over.
Describing this group as the 'fastest-growing consumer group in the world', the report is the latest edition of Tetra Pak’s annual Consumer Generations Whitepaper series, which analyses consumers by their age, needs and spending habits. The report states that the spending power of seniors is set to rise to $10 trillion by 2020.
“Seniors spend 20% of their income on food and beverages," said Libby Costin, VP of global marketing at Tetra Pak. "They have more disposable income than previous generations, and are poised to become one of the most important consumer groups over the next decade, with a total spending power of US $10 trillion by 2020. This creates a huge opportunity for manufacturers to respond to their needs.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.
