The importance of the senior economics
The human population is showing an ageing tendency worldwide, both in developed and developing countries. Silver economy (a term invented and often used by the European Union) is expected to affect almost every segment of the whole economy in the near future. Senior consumers do not create a homogenous consumer group. Due to the generation differences within the group, silver consumers do not have homogenous motivations, and react differently to impacts before or during purchase. Within the European Union, the most important demographic change is the ageing of the society. Silver economy represents a continuously widening age group that creates a new segment, characterised by special demands and priorities.

Beyond the ones shown in Figure 1., new economic sectors are foreseen to turn towards senior people. It is clear that the population of older than 65 years old people already represent a huge market segment with all its unexploited opportunities. In the case of elderly people, the right to well-being is just as significant as in case of other segments. In a previous study, I have defined the market segment of senior people as the total economic activity of the older than 65 years old age group, including all related products and demands that will result in spending.
Silver economy is a niche economics segment. Results of my previous research also confirm that the consumption habits and preferences of the elderly are different. Consumer habits and consumer preferences are not necessarily reflected by the actual choices of people. Actual consumer decisions are affected by several factors. Buyers decide upon their previous personal experiences, cultural habits, inner personal values, the usefulness of the product/service, their available income and prices. The amount of spendable financial assets and the price of the product/service limit the freedom of choice. Thus, this limited demand, determined by the available spendable income will define the terms of remunerative demand and consumer
Nowadays, the recognition of the importance of healthy living has become a fashionable trend among the elderly. The active members of the senior society tend to be consciously active, both physically and mentally. According to research results, this generation is foreseen to pursue physical and mental harmony, and therefore is likely to be approached with a high rate of empathy. Regarding the ageing of the human body, it is important to clarify that some of the processes inevitably affect all human beings. Gerontology experts state that the ageing of the human body is a normal biological process. It is not necessary that ageing should come with illness or any pathological lesions. However, it is important to point out that some negative biological or environmental changes can increase the risk of diseases and/or accidents. By environmental changes, we mean all factors that can influence the everyday life of the elderly (see Fig. 2.).

Personal characteristics, personal life situations, social status, the availability of social services, physical conditions, the accessibility of healthcare services and economic circumstances together define the comfort zone of the elderly. When the combination of all factors are in a positive harmony, we can talk about successful ageing.
I think that we agree that senior/silver economy represents a continuously widening age group that creates a new economics segment, characterised by special demands and priorities. In fact that could be a good opportunity as well…
