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Japan's older women gain spending power, Sex and drugs - and financial risk
International Herald Tribune SATURDAY, SEPTEMBER 3, 2005 Japan's older women gain spending power Japan's massive but slow-growing consumer market is likely to be led powerfully by women in their 70s or older, who are wealthy, energetic and eager to spend, according to a new report by MasterCard International. The credit card issuer predicted that older Japanese women would command about $313 billion in spending power by 2013. While the possession of wealth in Japan is highly concentrated among senior citizens in general, senior women tend to live longer, stay healthier, and have more extensive social networks than their male counterparts, making them more likely to spend. Already, more and more products and services are designed with this segment of consumers in mind, according to the study. These include takeout restaurants, health spas and continuing education centers. "The growth of demand for services will be limited only by business's ability to innovate," the report said. Takayo Yamamoto, research director at Hakuhodo Institute of Life and Living, said she had noticed spas and beauty salons targeting "not-so-young female clients" and home improvement services that allow empty nesters to redesign homes to make the internal layout more spacious. "There are hidden business opportunities everywhere," she said. "Services that allow people to enjoy quality, comfort and value will be in great demand." MasterCard dubs this newly emerging consumer group "silver aristocrats" and says they will take center stage in the consumer market in the coming decade. Another group of big spenders is made up of younger single women in their 30s and 40s who are marrying late or not at all because more of them are financially independent. Free from traditional household tasks and child-rearing responsibilities, they have the time and the cash to devote to hobbies and activities, the report said. In fact, Yamamoto said some services were being designed with both groups in mind. "There are services that work on the mother-daughter concept," she said, like travel packages for older and younger women.
by alfayoko2005
| 2005-09-03 09:26
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