Silver economy reimagined: Breaking stereotypes in marketing to seniors

When ayurvedic brand Dr. Vaidya's launched its Ageless Aspirations campaign in November 2023, it tapped into an underserved narrative: seniors pursuing entrepreneurial ventures and hobbies post-retirement. A 65-year-old launching an online handicrafts business captured the imagination of tier-1 and tier-2 city audiences, driven by insights revealing a 50% increase in digital learning among seniors during the pandemic. Garnering over two million views, the campaign shattered stereotypes of senior citizens as inactive or out of touch.

This sentiment echoes in the work of 65-year-old Meenakshi Menon, founder of GenS and GenSxty Tribe, platforms designed for senior citizens. These are not only senior-led—its executive director and founding investors are also over 60—but also challenges assumptions about ageing.

As Menon puts it, "Seniors are at the forefront of adapting to technological shifts. If they see value in something, they learn and adapt enthusiastically."

Meenakshi Menon, founder of GenS and GenSxty Tribe.

The silver economy is a fast-growing segment, with India’s senior population set to double from 156.7 million in 2024 to 346 million by 2050, according to a report by JLL and the Association of Senior Living India (ASLI). This demographic is financially powerful, digitally savvy, and increasingly independent—qualities that marketing campaigns can no longer afford to ignore.

From dependency to empowerment

The stereotype of seniors as dependent and averse to change is outdated. According to a National Statistical Office (2021) report, nearly 30% of Indian seniors actively contribute to their households. Meanwhile, GenS’ study with YouGov highlights a cohort that is health-conscious, financially aware, and eager for new experiences.

For example, 72% of seniors are passionate travellers, with 41% using apps for bookings. This is where travel agencies like KareVoyage for 50 Plus Wanderers step in. Shefali Jain started the company in 2016 to cater exclusively to this demography, organising group trips not just within India, but to far-flung places like the North Pole.

Amyn Ghadiali, country head—India of Gozoop Creative Digital, underscores this diversity, which many miss while thinking about the silver economy. "India’s senior population spans urban, rural, and cultural lines. Brands like Thomas Cook India have showcased spiritual tourism for southern seniors and adventure trips for urban retirees, reflecting their varied interests," he said. A 2023 Nielsen survey also noted growing interest in experiential travel among seniors in smaller cities.

Amyn Ghadiali, country head—India of Gozoop Creative Digital.

Brands are now waking up to this latent potential. In the financial sector, DBS Bank India launched DBS Golden Circle in 2024, a priority banking programme for customers over 60. This initiative reflects the growing need to provide services tailored to seniors’ unique financial and lifestyle requirements.

Senior citizens form a significant part of The Sleep Company’s (TSC) audience. To engage this demographic, the company leverages targeted print coverage in regional newspapers, which remains a preferred medium for this group, along with outdoor marketing campaigns.

Ripal Chopda, TSC’s chief marketing officer recalled one standout initiative, which was its wedding campaign. The brand encouraged parents to consider gifting SmartGRID mattresses as a practical and health-oriented gift for their children’s weddings. “This campaign resonated well with senior audiences, as it aligned with their aspirations of contributing meaningfully to their children's lives,” he added.

Challenging loneliness through connection

According to a survey by the Agewell Foundation, around 47.49% of elderly people in India experience loneliness. This issue is more prevalent in urban areas where nearly two-thirds of elderly people report feeling lonely.

Realising how a significant portion of senior citizens in India struggle with loneliness, in 2022, the late chairman emeritus of Tata Sons, Ratan Tata invested in Goodfellows, a startup that provides companionship to the elderly. Goodfellows was founded by Shantanu Naidu, who was Tata’s business assistant.

Brands have been highlighting this heart-tugging issue through campaigns. Senior living community operator, Columbia Pacific Communities, launched the #ReplyDontReject initiative for World Senior Citizen’s Day in 2021. In the campaign conceptualised by Famous Innovations, actor Boman Irani urges younger generations to view ‘Good morning’ or motivational message forwards from senior citizens as heartfelt attempts to seek attention and express that they miss them.

Goldmedal Electricals also took an empathetic approach with its 2023 New Year campaign. Conceptualised by FoxyMoron, the ad depicted volunteers revitalising an old-age home with the brand’s products and spending quality time with the residents. By highlighting senior loneliness, the campaign resonated emotionally while subtly promoting its offerings.

Digital fluency among seniors

Hearteningly contrary to the belief that seniors are wallowing in misery waiting for a call from their family, the truth is that they are openly embracing technology. The Internet and Mobile Association of India (IAMAI) reported in 2022 that 36% of Indian seniors are active online, primarily on WhatsApp, YouTube, and Facebook.

Campaigns like PhonePe’s regional-language tutorials for UPI transactions have successfully engaged this audience, with a 40% increase in app downloads among users aged 55 and above.

An advertising industry stakeholder highlighted the importance of accessibility. According to him, culturally aligned, accessible content can engage seniors effectively. “Simplifying digital experiences is key to overcoming apprehension,” he opined.

He cited the example of the BBDO-created Ariel India’s ‘Share the load’ from 2016. “It depicts a father watching his young daughter, who used to play house-house as a child, now struggling to manage her career, child and household chores, and apologises for not stopping her when she was a kid and telling her that certain things were not just her responsibility, but also that of her husband. This is relatable to many in his demography and it hits home,” he added.

Ripal Chopda, chief marketing officer, The Sleep Company.

TSC has recognised that senior citizens increasingly engage with digital platforms for entertainment, news, and information, with Facebook and YouTube being their primary preferences. Hence, it tailored its strategy to connect meaningfully with this audience. Its ad campaigns are strategically placed on YouTube, leveraging its video-based format for better engagement, and the company also maintains an active presence on Facebook to foster connections and provide relevant content.

To address potential technological challenges, TSC has simplified its communication and visuals, ensuring they are easy to understand and navigate. It also engages in direct communication through comments and messages, addressing queries promptly to build trust. “By focusing on accessibility, clear communication, and personalised support, we create a digital experience that is enjoyable and inclusive for senior citizens,” Chopda explained.

At the same time, marketing narratives that empower seniors while maintaining relatability resonate deeply. Life Insurance Corporation (LIC) ran a campaign featuring a retired teacher mentoring underprivileged students while pursuing her passion for art. The campaign struck a balance between highlighting her wisdom and showcasing her ongoing aspirations, resulting in a 22% increase in policy inquiries from the 60+ demographic.

Antara Senior Care, part of Max Group, has also focused on empowering seniors. Its recent campaign, Let Your Love for Life Never Age, depicts a senior couple enjoying life together, emphasising joy and quality of life. Rohit Khatua, executive vice president and head of marketing and communications at Antara, explained, "Our content reflects seniors’ evolving aspirations, portraying them as vibrant and empowered individuals."

Inclusive marketing for a diverse demographic

Brands are leveraging research to better understand senior consumers. For instance, GenS partnered with Ormax Compass to conduct live tests with seniors, ensuring user feedback shaped product development. Menon shared, "A senior once highlighted the need for financial education tailored to this audience. We partnered with experts to address this gap, creating interactive, easy-to-understand content."

Rohit Khatua, executive vice president and head of marketing and communications at Antara.

Antara employs a similar approach. It actively seeks feedback through surveys and focus groups to refine our offerings. According to Khatua, this dialogue helps it stay responsive to seniors’ evolving expectations.

Seniors are not a homogenous group, and marketing strategies must reflect their diverse lifestyles and aspirations. As Ghadiali noted, "Empowering seniors while keeping narratives relatable is essential in India, where family values and cultural relevance hold significant importance."

This approach extends to digital platforms. Khatua explained, "Our strategy includes user-friendly content, tutorial videos, and virtual self-care sessions. Platforms like WhatsApp and video calls help seniors stay connected with loved ones and engage meaningfully."

The growing silver lining

As India’s senior population grows, so does its influence. This demographic is actively rewriting the narrative of ageing, embracing travel, financial independence, and digital fluency. The challenge for brands lies in recognising their potential and creating campaigns that reflect their vibrancy and aspirations.

The silver economy represents an untapped goldmine for marketers—but only if they move beyond outdated stereotypes. Menon aptly sums up: "This generation knows how to appreciate a good opportunity. If they find value in it, they’ll adapt enthusiastically. If not, they’ll move on."

In an era where inclusivity and authenticity are paramount, brands that truly understand and celebrate the nuances of senior citizens will find themselves ahead of the curve—creating not just products and services, but meaningful connections that stand the test of time.