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 5.6 million in 2020 and to over 10 million in 2050.
- Seniors are living longer. Since 1960, life expectancy at birth has improved by 11.3 years for males and 9.5 years for females. For Victorians aged 60 years in 2012, life expectancy for females is 86.4 years and males 83.2 years.
- 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.
You can also join the program and provide a discount to more than one million seniors now.