TOKYO - Women in their 70s are a powerful force in the Japanese consumer market. Free from the burdens of mortgages, child rearing and education expenses, they have more time and money to spend on food, fun and new experiences.
Japan has 14 million women aged 70 and over, making up about 10 per cent of the total population, and there are about 40 per cent more women than men in this age group.
Hey, big spenders
According to a recent survey of family income and expenditure conducted by the Statistics Bureau of the internal affairs ministry, women 70 and over spend an average of 6,749 yen (about S$75) on a skirt, more than 50 per cent higher than the average and the highest among all age groups.
The flagship store of Mitsukoshi, one of Japan's oldest department stores, is located in a historical shopping district of Nihonbashi, close to the ritzy Ginza area. In September, the store set up Re-Style Lady, a concept space targeting senior women. Its products range from walking sticks to reading glasses to fashion items specially selected for seniors. Re-Style Lady is a modified version of a similar space in sister store Isetan, which caters to women in their 30s and 40s.
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