The Silver Swan: China’s most overlooked luxury client

In the relentless pursuit of Gen Z and millennials, the marketing world has turned a blind eye to one of the most lucrative consumer cohorts in China: the affluent retiree. Dismissed by many brands as a legacy segment, these individuals — predominantly women aged 60 and over — are, in fact, a powerful economic force. They are the “Silver Swans”: digitally savvy, brand loyal, and endowed with high disposable income and the freedom to spend it on themselves. While the industry chases youth, this mature audience represents a vast blue ocean of opportunity for luxury brands bold enough to reimagine their narratives around elegance, experience, and well-being. This generation, which witnessed China’s economic miracle firsthand, is now enjoying its fruits. Their consumption is not for social clout but for self-fulfillment, making them a uniquely stable and valuable customer base. Ignoring them is not just a missed opportunity; it's a strategic blunder. The profile of a power spender The stereotype of the frugal, homebound senior is dangerously outdated. China’s affluent Silver Swans are often former professionals, entrepreneurs, or spouses of high-net-worth individuals. They have accumulated wealth, paid off mortgages, and seen their children become independent. Importantly, their spending is increasingly focused on health, travel, retirement, and lifestyle-quality investments. According to the State Taxation Administration, in the first half of 2025, revenue from senior-oriented tourism services, sports and health services, and cultural and entertainment activities grew by 26.2%, 23.9%, and 20.7% year-on-year, respectively. This reflects a shift among the senior population from merely retiring to actively enjoying retirement, with a clear focus on personal fulfillment. Rich in both time and money, this group has the means and motivation to invest in their own happiness and well-being. The insight is clear: they represent a powerful market segment for brands willing to offer the right products and experiences. Curated companionship: The new luxury group travel For Silver Swans, luxury travel is less about isolation and more about curated companionship. They are driving a boom in high-end, small-group tours tailored to their pace and interests. According to leading travel platform Ctrip, bookings from China’s senior travelers (aged 60 and older) surged more than 22% in 2024 compared with the previous year, with 31% of seniors traveling twice as often as in 2019. The company launched its Old Friends Club last year, targeting those 50 and older, to cater to this growing demand for mid- to high-end travel. Typical itineraries include multi-day trips in Guizhou, Jiangsu and Hubei; winter “warmth tours” to Hainan; and classic routes across northwest China. All offer cultural exploration, local lifestyle experiences, and scenic engagement at a pace suited to the travelers. Groups usually number six to eight people, allowing seniors to enjoy the journey without feeling rushed. Silver Swan travelers are willing to spend tens of thousands of RMB per trip, with some spending up to 100,000 RMB annually ($14,050). They prioritize trips that are semi-independent or fully independent, avoid high-pressure shopping stops, and focus on wellness, deep cultural experiences, and scenic quality. For them, travel is not just a way to actively enjoy retirement but also a means to pursue personal interests and new social connections, reflecting a shift toward travel as an enriching pursuit rather than mere leisure. Investing in the self: Health tech and premium skincare The most significant allocation of the Silver Swan’s disposable income is towards longevity and self-preservation. This extends beyond basic wellness to include high-tech health solutions and nutritional supplements. Health tech wearables: Smart health devices, such as fall-detection bracelets, health monitoring watches, and intelligent trackers, are in high demand. These devices serve as essential tools for monitoring health, preventing accidents, and offering peace of mind for both seniors and their families. Data from Taobao and Tmall shows that from January to August this year, sales of smart bracelets and smartwatches with age-friendly functions increased by more than 200% and 350% year-on-year, respectively. Health and nutritional supplements: According to a 2025 report by iResearch Consulting, consumers aged 60 and older account for more than 50% of the nutritional supplement market. Bone and joint care products and cardiovascular health supplements, such as glucosamine and fish oil, generate 68% of market revenue. Supplements have shifted from being optional to essential, reflecting a proactive approach to disease prevention and overall wellness. Digitally native on their own terms The most common misperception is that this group is digitally disconnected. In reality, they are highly engaged online — just on their own terms. According to a June 2025 report from the China Internet Network Information Center (CNNIC), there are 161 million internet users aged 60 and above in China, with an internet penetration rate exceeding 52%. Data from QuestMobile shows that the average monthly internet usage time among seniors is 129 hours, with short videos accounting for roughly 35% of total usage time. While China’s seniors still use WeChat for family, they have also adopted Douyin and RedNote as platforms for their interests. On Douyin, they follow chefs, travel bloggers, and traditional opera performers. On RedNote, hashtags like “Retirement Life” (#退休生活) and “My Wellness Routine” (#我的养生日常) have millions of views, with Silver Swans proudly sharing their travel photos, skincare hauls, and culinary creations to gain social recognition and emotional fulfillment. Commercially, this demographic has enormous purchasing power on short-video platforms. Data from WeChat Channels shows that senior users’ sales GMV in 2025 increased by 200% year-over-year, with return rates of only 3%–6%, well below the industry average. This demonstrates that China’s seniors actively participate in the digital world, building social networks and creating new avenues for engagement and consumption. What this means for global brands To win the loyalty of the Silver Swan, brands must adopt a new playbook built on respect and relevance. Authentic representation in marketing: Move beyond tokenistic imagery. Feature mature, elegant brand ambassadors who reflect this cohort's sophistication. Campaigns should focus on themes of freedom, discovery, and well-earned enjoyment, not just family and grandchildren. Product design with intention: Develop products that cater to their needs. This means luxury travel with easier logistics, skincare with ergonomic packaging and focused efficacy, and apparel that blends classic elegance with comfort and technical fabrics. Community-led digital strategy: Engage them on their turf. Partner with mature KOLs on Douyin and RedNote who have built trust within this community. Create content that educates and inspires — masterclasses on art, history, or wellness — rather than just sells. Human connection in retail: Train staff to offer knowledgeable, respectful, and patient service. This cohort values human interaction and expertise. The store should be a place of consultation and connection, not a frantic retail frenzy. The bottom line The Chinese Silver Swan is redefining luxury in her image — one of experienced elegance, proactive health, and curated experiences. She represents a demographic dividend that luxury brands can no longer afford to ignore. In a market obsessed with the next big thing, her enduring value, loyalty, and spending power offer something truly rare: stability and sustained growth. The brands that will succeed are those that see her not for her age but for her acuity, her ambition, and her immense worth.

Sectors

Insights

Company

The Silver Swan: China’s most overlooked luxury client