Head of International Best Practices Analysis Department at the Gaidar Institute, Antonina Levashenko commented for Nezavisimaya Gazeta on the changing consumer patterns of different age groups and the growing importance of the older demographic for businesses.
According to the expert, young and older consumers form fundamentally different demand patterns, which requires companies to rethink their marketing and sales strategies.
“Young consumers’ spending is primarily focused on clothing, cosmetics, mobile communications, digital subscriptions, games, education, food delivery, and entertainment. Meanwhile, the 55+ generation requires entirely different strategies: they shop online less frequently and more often in physical markets,” noted Antonina Levashenko.
The expert emphasized that against the backdrop of an aging population, businesses will increasingly need to take into account the specific characteristics of the older audience—from preferred sales channels to communication formats and services. According to her, companies that can adapt their products and customer experience to the needs of this consumer group will gain additional competitive advantages.