From Delivery Apps and Shopping Malls to Skincare... The New Major Consumers: Senior Generation

Consumption Growth Rate of 50+ Surpasses 20-40s
Leisure Activities Increase from Coffee to Concerts and Skincare

The rate of increase in both online and offline consumption among the senior generation aged 50 and above has surpassed that of the 20-40 age group. They actively embraced online platforms, actively spending not only on food delivery applications (apps) but also on shopping malls, appearance, and health care.

According to an analysis by KB Kookmin Card of usage data across major online and offline sectors from approximately 20 million credit and check card members, the sales growth rate of customers aged 50 and above in offline major sectors as well as online and delivery app sectors was 17% last year compared to 2021, which is 6 percentage points higher than the 11% growth seen in the 20-40 age group. In particular, the sales growth rate for those aged 65-69 was 23%, and for those 70 and older, it was 25%, showing a trend of increasing sales with advancing age.

Specifically, among those aged 50 and above, the sales growth rate for online shopping malls was 38%, and for delivery apps, it was 37%, which is 25 percentage points and 30 percentage points higher, respectively, than the growth rates of the 20-40 age group. This indicates that the senior generation is actively embracing online platforms, as reflected in the sales figures. Especially in the case of delivery app usage, the sales growth rates for coffee/beverages and bread/pastry among those aged 65 and above increased by 109% and 111%, respectively, from 2021 to 2022. For the entire 50 and above age group, the increases were 92% and 68%, respectively.

Beyond the growth rates, the share itself was also significant. The sales share of online shopping malls and delivery apps for those aged 50 and above was 21% in 2022, up 3 percentage points from 2021. In contrast, the 20-40 age group saw a 3 percentage point decrease.

Investment in leisure-related sectors and appearance management areas such as plastic surgery clinics and skin care centers was also found to be active among the senior generation. In the skin care center sector, sales for those aged 50 and above increased by 14% last year compared to 2021. Among leisure-related sectors, the sales growth rate by age group for cultural viewing sectors such as concert halls was 137% for those aged 50 and above from 2021 to 2022, far surpassing the 84% increase for those under 50.

KB Kookmin Card stated, "As age increases, individuals become more meticulous about self-care, enjoy culture and leisure, and embrace digital environments, making active and smart seniors who actively consume in major online and offline sectors emerge as major players in the consumer market." They added, "Although the sales share is still lower than that of the 20-40 age group, it is expected to continue increasing. Therefore, we will continue to analyze consumption trends by detailed sectors for active seniors and provide useful information to related merchants and companies."

This content was produced with the assistance of AI translation services.