Summary of the 2023 Silver Economy Insights Report

Key Highlights:

1. User Growth and Engagement:
   • Silver economy users have reached 325 million, showing a 7.6% YoY increase, constituting 26.5% of the total internet population.
   • Per capita usage of apps and WeChat mini-programs continues to grow, reaching 127.2 hours, a 5.2% YoY increase.
   • The silver demographic is increasingly shifting to tier 1, new tier 1, and tier 2 cities, showing a 3.5% increase YoY.
2. E-commerce and Financial Activities:
   • Silver economy users exhibit higher stickiness in e-commerce, map navigation, comprehensive information, and financial services in tier 1, new tier 1, and tier 2 cities.
   • Online spending capacity has increased, with a rise of 1.6% in those capable of spending over a thousand yuan, and a 2.4% increase in mid-to-high-end consumption intentions.
3. Content Consumption and Online Behavior:
   • Silver users are contributing significantly to the growth of various industries, such as a 70% YoY increase in the online travel sector.
   • Short and long-form video platforms, comprehensive news platforms, and social commerce apps like Little Red Book and Bilibili are gaining popularity among silver users.
4. Technology Adoption:
   • Silver users are embracing smart living with a preference for domestic smartphone brands like Huawei and OPPO.
   • AIoT development is driving the integration of smart home devices, wearables, and smart cars, with over 40 million silver users engaging in smart home apps.
5. Health and Finance:
   • In the health sector, online medical platforms are gaining popularity, offering convenient and comprehensive services to the silver demographic.
   • Over 150 million silver users are engaging in digital transactions through payment and settlement apps.
6. Leisure and Entertainment:
   • The silver demographic is active in leisure and entertainment, with preferences for short videos, fashion content, and influencer-driven platforms.
   • Live streaming and interactive content are gaining traction among silver users.
7. Shopping Behavior:
   • Online shopping behavior is increasing, with silver users contributing significantly to platforms like JD.com, Huawei Mall, and Alibaba.
   • Silver users show a strong preference for certain product categories, such as alcoholic beverages and large household appliances.
8. Automotive Market:
   • The silver demographic is becoming a significant segment in the automotive market, with a notable preference for brands like Honda and Baojun.
   • New energy vehicles, especially from established brands, are gaining popularity among silver users.