Age-friendly measures could boost senior spending by 146 pc: survey

A survey conducted by The Hong Kong Polytechnic University revealed that implementing enhanced age-friendly measures could increase consumption willingness among elderly individuals by 1.46 times.

The university interviewed 3,000 individuals aged 50 and above between December and March regarding their purchasing behavior and satisfaction levels in an age-friendly environment.

The result, released on Monday, found that food and dining accounted for the highest proportion of their consumption expenditure at 37 percent, followed by housing expenses at 20 percent.

It also highlighted that satisfaction with elderly-friendly measures offered by local merchants was generally below 25 percent.

Meanwhile, the survey revealed that the group’s consumption willingness would increase by 26 percent if key factors of age-friendly business practices—including environment, staff attitude, marketing strategy, and products and services—were improved.

It shows that consumption willingness could increase to 2.46 times the original level when all four measures were enhanced together, with staff attitude having the most significant impact.

In addition, Under Secretary for Labour and Welfare Ho Kai-ming noted that Hong Kong had recorded 2 million residents aged 60 or above as of last month. 

He emphasized that successfully meeting seniors' expectations would considered benevolent governance while failing to fulfill their needs could impose a significant burden on Hong Kong society.