France's Seniors to Drive a €130 Billion Economy by 2030

France is witnessing a significant economic shift as its aging population emerges as a powerful consumer force. By 2050, over a third of the population will be aged over 60, a rise from one in five in 2000, according to INSEE data. This demographic transformation is expected to underpin the rapid growth of the "silver economy," projected to generate more than €130 billion by 2030.

Flavien Neuvy, director of the Cetelem Consumption Observatory, highlights seniors' expanding role as household consumption remains a primary growth driver. Their spending habits reveal a preference for price and quality, with most seniors favoring physical stores; notably, over 70% carry out their grocery shopping in supermarkets, and 26% never shop online. Nonetheless, online shopping is gaining traction among seniors, with 60% having made at least one online purchase in the past year — predominantly in categories like travel (43%), leisure (39%), and electronics (30%)."]

This trend is expected to intensify as today's middle-aged consumers—already accustomed to e-commerce—transition into senior status by 2050. Furthermore, 20% of seniors currently use artificial intelligence to guide their purchases, a practice likely to grow.

Seniors are also embracing responsible consumption, with 35% preferring to repair goods rather than replace them, and 30% showing interest in second-hand or refurbished products. Interestingly, 91% shop for pleasure and 88% for comfort, contrasting with younger generations who focus more on essential spending.

As the senior population grows, sectors like communication, wellness, and leisure stand to benefit, while segments such as alcohol, tobacco, clothing, and furniture may face challenges. Retailers must engage seniors during pivotal life stages, such as retirement relocations to sunnier regions, which spur significant purchasing activity. This shift necessitates brands and businesses understanding and adapting to the evolving consumption patterns of France's seniors to capture this growing market segment effectively.