The Silver Market Phenomenon

Prof. Dr. Cornelius Herstatt ist Leiter des Forschungs- und Lehrbereichs Technologie- und Innovationsmanagement an der Technischen Universität Hamburg-Harburg (TUHH).

The current shift in demographics - aging and shrinking populations - in many countries around the world presents a major challenge to companies and societies alike. One particularly essential implication is the emergence and constant growth of the so-called "graying market" or "silver market", the market segment more or less broadly defined as those people aged 50 and older. Increasing in number and share of the total population while at the same time being relatively well-off, this market segment can be seen as very attractive and promising, although still very underdeveloped in terms of product and service offerings. This book offers a thorough and up-to-date analysis of the challenges and opportunities in leveraging innovation, technology, product development and marketing for older consumers and employees. Key lessons are drawn from a variety of industries and countries, including the lead market Japan.

State-of-the-art innovation, product development, and marketing for aging customers