Hong Kong’s silver generation is defying stereotypes. And brands that fully understand this group will uncover a goldmine of opportunities to win new and valuable customers.
The outdated notions about people aged 50 and above in Hong Kong that need to be retired are: They’re low-budget spenders and digital laggards.
In fact, the latest research on Hong Kong’s silver generation shows they hold significant spending power, are digitally fluent, and actively seek online content to enhance their wealth and health. And they’re emerging as a key customer segment in Hong Kong that brands cannot afford to overlook.
In 2024, the silver generation’s average monthly retirement spending rose by 7%. And the expenses of higher-spending retirees, which stood at HK$23,670 a month, exceeded the average worker’s monthly salary of HK$20,800.
This group is also a sizable demographic in Hong Kong, comprising 47% of its population. And it's set to make up the mainstream as the median age in Hong Kong trends towards 50 by 2030, based on the Hong Kong Census and Statistics Department’s population projections.
To help you better understand and engage with this audience segment, here are three insights about their digital behaviours, consumer needs, and interests. These insights, drawn from a Google survey and external market research, can help you hone your strategies for winning this group of customers.
1. The silver generation embraces digital platforms and formats
Digital fluency is high among people aged 55 and above in Hong Kong, 85% of whom use smartphones. Their participation in the digital economy is also rising fast.
It’s expected that 87% of people aged 65 and above will go online in 2025 for information searches, entertainment, shopping, and mobile payments, up from 56% in 2018.
And YouTube is a platform the silver generation turns to, with 65% of audiences aged between 45 and 59 increasing their viewing time on it, more than any other age group.
That’s because Hong Kong viewers agree YouTube has the most diverse content and is the No. 1 place for them to go deep with what they love.1 Additionally, ads in videos play a crucial role in helping 80% of Hong Kong viewers make purchase decisions.2
Our research also shows the silver generation watches content in both long and short formats on YouTube. This busts yet another stereotype — that this generation doesn’t share in the interest which youth have for YouTube Shorts. The fact is, 69% of viewers aged 55 and above who watch YouTube also engage with short-form videos.3
To raise awareness of your products and services among Hong Kong’s silver generation and engage with them meaningfully, use multiformat ads on YouTube and multichannel marketing campaigns.
For example, campaign management tools like Display & Video 360 (DV360) can help you reach this audience segment cost-effectively. With its extensive coverage of media channels, DV360 lets you choose where your video ads show up for viewers across the digital channels where they’re most engaged, including YouTube, connected TV, display and audio, all while on the same budget.
You can also be highly relevant in your reach by using packages of ad inventory for DV360, curated to meet the silver generation’s interests in financial planning and health.
2. They seek reliable retirement information online
The silver generation, like other age groups in Hong Kong, is increasingly seeking retirement information online. The growing interest is driving a 33.4% rise in searches related to “retirement” since 2020.4
They’re also using financial service apps and platforms, with 80% of older adults managing investments or insurance on such platforms.
But they do not easily part with their money when offered online services or products. Privacy, fraud, and cybersecurity concerns have led people aged 55 and above in Hong Kong to cite “a lack of trust” as the top barrier to adopting digital services, be it in areas like wealth advisory or telehealth.
That’s why brands need to prioritise building trust with Hong Kong’s silver generation customers. One way your brand can win these customers’ confidence is with ads on Google Search, which APAC users say is the No. 1 most trusted platform and the top platform where they look to find information.5
That “trust transference” effect also explains why YouTube is the top social media platform used by Hong Kong adults to access financial insights, with 78% saying they do so. And on YouTube, viewers turn to reputable creators, whom they consider to be voices of authenticity. So increase your brand’s credibility and engagement with the silver generation by collaborating with creators who share trusted retirement-related content on YouTube.
3. They value health and will spend on it
Health is the thing that people in Hong Kong, including the silver generation, value most,6 as our research shows.
And that’s no surprise. People in Hong Kong have the world’s highest life expectancy of 85.4 years and 74% of them want to take steps to ensure personal health.7 The silver generation is also less price-sensitive than other age groups in Hong Kong when buying items like vitamins and supplements.8
But they fall behind the general population in certain aspects of caring for their health. For example, just half of people aged 55 and above take vitamins and supplements every day, compared to 2 in 3 people across all age groups who do so.9
Brands can make it easy for the silver generation to prioritise their health by highlighting the efficacy of their health products and the quality ingredients used. These two factors are the top considerations for people aged 55 and above when selecting vitamins and supplements.10
Health brands can also drive consideration of their products by engaging the silver generation’s interest in health-related content on YouTube, which 72% of viewers aged 55 and above watched in the past month.11
To optimise your reach and marketing ROI on YouTube, make your campaigns highly relevant to silver generation viewers. Have your ads show up for health-related content that they’re watching, or topics or keywords that they’re interested in. You can also use YouTube Select lineups to place your ads alongside the most popular and relevant videos for these viewers.
Hong Kong’s silver generation is in their golden age of consumption. And your brand can win these valuable customers through relevant content on digital platforms that build trust by using multiformat, multichannel campaigns.
Contributors: Kristy Wong, Industry Manager, Google HK; Rachel Chan, Product Marketing Manager, Ads Marketing, Google HK & TW
