Puerto Rico Economic Pulse ©

December 2011: Inside Grandpa’s Shopping Cart

An analysis of what seniors buy, need, want, and entail

Demographers’ warnings have become true: the world is getting grayer. Cohorts of people aged 60 years and older are swelling at an unprecedented rate. They now account for 11% of the world population and for a larger chunk in PR with 20% of total population. An aging population brings challenges and opportunities. This trend exerts pressure on pension systems, health services, labor market, retail, entertainment, housing, and government services. Find out what is the profile of our seniors in PR and how their spending differs from other age groups. Their buying trends are usually dictated by a need to maintain an active lifestyle and this represents a great opportunity in the market. We often mention other countries as “new markets”, but the market for seniors should not be underestimated. The opportunity awaits entrepreneurs who can match what seniors want with the correct product. Let’s take a look at Grandpa’s shopping cart and future pressure on government for more services.