Economic Power of Brazil's 50+ Population Spurs New Business Opportunities
Brazil's growing 50+ demographic, representing substantial consumer power and entrepreneurship, is prompting businesses to rethink strategies to tap into this expanding market segment.
- • 27% of Brazil's population is over 50, projected to be 40% by 2044.
- • 50+ demographic consumption is expected to reach R$1.8 trillion in 2024, doubling in two decades.
- • 75% of older adults feel underrepresented in marketing; 45% say products don't meet their needs.
- • Companies like Prevent Senior are adapting, but Brazilian market still needs to catch up to global trends.
Key details
Brazil is witnessing a significant demographic shift with 27% of its population currently over the age of 50, a figure projected to rise to 40% by 2044, according to United Nations data cited in an InfoMoney article. This aging population, referred to as the "Silver Money" demographic, is expected to wield considerable economic influence, with consumption reaching R$1.8 trillion in 2024 and potentially doubling to R$3.8 trillion in two decades, representing 35% of private household consumption.
Despite this growing purchasing power, many older adults feel overlooked; 75% report feeling underrepresented in marketing campaigns, and 45% believe available products fail to meet their specific needs. Marcos Ferreira, founder of Silver Hub, emphasizes the urgent need for companies to adapt business strategies and structures to better serve and include this demographic, particularly as the workforce becomes increasingly multigenerational. Businesses such as Prevent Senior and MedSenior are already tailoring services to this group, while sectors like real estate are beginning to develop age-friendly housing.
Entrepreneurship is also rising among those over 50, with many starting ventures addressing challenges relevant to their peers. Cléa Klouri from Data8 highlights the necessity for Brazil's market to catch up with European examples where adaptation to aging consumers is more advanced. The article underscores that recognizing and capitalizing on the economic potential of Brazil's older population is critical for future business growth and societal inclusion.