Some 10% of the world's people have passed their 60th birthdays – and projected to number 22% by 2050. It's a silver-haired sector that represents a growing consumer base that's retiring richer than previous generations.

The elderly can no longer be classified as the poorest segment of consumers, particularly in developed economies, because the new generation of elderly consumers is better buffered against the effects of the slowing global economy and weak consumer sentiment.

They have accumulated more personal wealth. They tend to be less aggressive investors and so should have experienced less investment loss during the deleveraging process in the world's financial sector.........