Time to court Asia's gleaming silver dollar
With the market for seniors expected to boom from 2020, consumer companies could use Singapore as a base to capture opportunities.
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AT supermarket and convenience store tills, young shoppers fumble with cash - until a white-haired saviour appears. "So simple!", Uncle Sim exclaims, showing them how to live the cashless, contactless life with Visa payWave.
The fictional star of a video ad series, Uncle Sim is nevertheless very real. With his technoliterate ways and strong purchasing power, he is the face of a new wave of Asia's elderly.
According to a recent study by the Asia Pacific Risk Center, Asia is ageing faster than any other region in the world, with another 200 million people passing the age of 65 in the next decade or so. By 2030, there will be some 511 million elderly people in this region.
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