Today the developed world is in the early stages of a “grey-quake”.
Those over 60 constitute the fastest-growing group in the populations of
rich countries, with their number set to increase by more than a third
by 2030, from 164m to 222m. Older consumers are also the richest thanks
to house-price inflation and generous pensions. The over-60s currently
spend some $4 trillion a year and that number will only grow.
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McKinsey Global Institute calculates that pensioners in the rich world spend an average of
$39,000 on consumption compared with $29,500 for the 30-44 age group.
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