We often hear about the youth market being the future. But here’s a reality check: the present — and the fastest growing demographic with purchasing power — is aged 55 and up.
In South Africa alone, over 9 million people are now aged 60 or older — a number projected to increase significantly by 2050 (Stats SA, 2022). And this is not your stereotypical “pensioner.” Today’s over-55s are online, financially active, and making informed decisions about their health, travel, lifestyle, and spending.
Yet many brands and service providers still treat this group as static, disengaged, or too niche to cater to. That’s a missed opportunity.
They’re Online and Paying Attention
Contrary to outdated assumptions, the senior population is increasingly digital-savvy. According to the Digital 2024 South Africa report by DataReportal, internet penetration among older South Africans is steadily rising. On our own Pensioners Forum & Deals Facebook group, with over 64,000 active members, we see daily engagement from retirees browsing deals, debating news, and sharing tips — often more actively than younger users.
They’re Consumers With Clout
A 2023 report from Nielsen revealed that boomers outspend millennials in key categories like groceries, travel, and health products. In a post-COVID world, they are prioritising quality of life — and are willing to spend on services, experiences, and products that match their needs.
They’re Not All the Same
It’s time to retire the idea that the senior market is a monolith. Today’s over-55s range from fit and adventurous early retirees to those managing chronic conditions and seeking affordability. Some are tech enthusiasts. Others are value hunters. The only constant? Change.
So What Should Businesses Do?
- Start Listening: Platforms like Pensioners Forum give real-time insight into what matters to today’s older South Africans.
- Rethink Your Marketing: If your messaging still pictures a frail pensioner in a rocking chair, it’s time to update your visuals — and your approach.
- Offer Real Value: Many seniors are on fixed incomes but still willing to support businesses that make an effort to serve them honestly and respectfully.
- Engage Where They Are: Facebook, community forums, and local events remain key touchpoints.
In Conclusion
Things are moving quickly in the senior space. Standing still isn’t a strategy — it’s a risk.
The good news? There’s still time to adapt, engage, and build lasting relationships with a powerful consumer group that’s not slowing down anytime soon.
Article by: Angela Watkins
Sources:
- Stats SA, “Mid-year population estimates 2022”
- DataReportal, “Digital 2024: South Africa”
- Nielsen, “Boomers: Powerful and Often Overlooked” (2023)
If you would like to reach our 64,000+ active members across our Facebook group, page, website, and Instagram contact us now at: talkhere@pensionersforum.co.za or complete the following form and we will get back to you
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