The seniors market is the fastest growing consumer segment in Australia. Now that the first wave of baby boomers is turning 65, the number of Victorian Seniors Card holders is on an upward trajectory.
Here are some facts highlighting the potential of the seniors market.
- There are more Australian seniors than ever. In 2010, 4.2 million Australians were aged 60 and over, this is projected to rise to over 10 million in 2050.
- Seniors are living longer. Since 1960, life expectancy at birth has improved and it continues to increase, with a boy born today expected to live to 80.9 years and a girl to 85.0 years, according to the figures released by the Australian Bureau of Statistics (ABS) in November 2020.
- In 2009 in Victoria life expectancy for males was 79.7 years and females was 84.1 years. In 2019 that was 80.7 years for males, and 85 years for females.
- Today an Australian male aged 50 years can expect to live another 32.9 years, and a female another 36.3 years. This is longer than life expectancies at birth, as most 50 year olds have successfully made it through the first several decades of life.
- They are wealthy. The over-55s account for 21 per cent of Australia’s population. However, they head up households that already own an astounding 39 per cent of the nation’s household wealth, as well as accounting for 25 per cent of all disposable income available for consumption.
- Seniors spend more on travel, entertainment, white goods, new cars, healthcare, furniture, gardening products, and food and beverages than any other age group.
- They are active online, with more than 50 per cent of over-55s using the internet at least once a day.
- They like to travel, accounting for over 20 per cent of all domestic tourism expenditure in Australia.
Join the Victorian Seniors Card program
See Marketing Opportunities to discover how you can communicate with Victoria’s Seniors Card holders and Seniors Business Discount Card holders through direct mail, electronic direct mail, online advertising and in-person marketing.
You can also join the program as a participating business and provide a discount to more than one million seniors now on our Discount Directory.