Retailers target grey spending power

Globally, those over 55 – dubbed the “silver segment” by Boston Consulting Group – will account for more than half the consumer spending growth in developed markets over the next two decades, according to the consultancy.

“As people get older their taste buds start going, so, in the US, Mexican food is doing well, not just among the Hispanic community,” says Nigel Bagley, director of customer relations at Unilever. “Older people want spicier tastes.”

Equally – like its peers in the world of face creams and body emollients – Unilever has added a “pro-age” line to its Dove personal care brand. But, as Mr Bagley says, this is about more than spices and wrinkle-busting.

“Easy to open packaging is key,” he says. “We have a lot of work to do on this. It is all a new area for us, it’s a new area for the whole industry.”