[Jeon Youngsoo's Population Prism] What Do 'These Days Adults' with Money, Health, and Leisure Buy?

Professor Jeon Young-su, Graduate School of International Studies, Hanyang University

Bandai, a global toy maker, successfully overcame the population shock. As estimated, the decline in birth rates means a reduction in the size of its main customers (children). This leads to market contraction and deteriorating performance. As demographic changes became more pronounced, the sense of crisis intensified. The solution was to shift the customer base from 'children to the elderly.' Something was urgently needed to connect 'elderly + toys.' Attention was focused on preventive healthcare for modern adults. The experiment worked. They persuaded the market with the concept of anti-aging by enhancing physical and mental strength through toys. Calories were even displayed to emphasize exercise effects. The size was increased to fit adult hands, and the instruction manuals were enlarged to accommodate presbyopia. Marketing the toys as something to enjoy with grandchildren stimulated even the demand driven by the love for descendants. Delicate lifestyle observations and a change in perspective succeeded in discovering new desires.

One pillar of the currently spotlighted successful models in Japan’s super-aged society is the senior industry. Twenty years of failure experiences contributed to this. Besides Bandai, there are many cases. The famous travel agency HIS is also practically supported by modern adults. This focus on adult customers helped them overcome competition with the major rival JTB. The starting point was breaking stereotypes. They began to shed the young image centered on the active population, especially the youth generation. The layout of the travel agency’s main sales tool, flyers, was changed to be more adult-customer-friendly. This was because comprehensive and detailed flyers with all kinds of information could not persuade adult customers. While the active population prefers comprehensive information, elderly customers are different. They prefer many blank spaces, fewer words, and emphasis on features, which was reflected in the marketing.

Bandai of Japan, famous for Gundam plastic models
Population changes due to declining birth rates
Reduced main customers and heightened crisis
'Toy assembly = Anti-aging'
Crisis overcome by targeting elderly marketing

In Japan, modern adults are the trend. This is the result of a changed adult market with disposable income and purchasing power developing faster than in Korea. Korea is also expected to soon see the mass emergence of a new type of modern adults completely different from the previous generation. Focusing only on caregiving and medical care is problematic. Introverted and closed elderly lifestyles have no place. The main consumers are driven by new adult consumption. The hint has emerged. The changed baby boomers began entering age 65 from 2020. This marks the full-fledged start of modern adults. They reject being sidelined after retirement and remain as middle-aged and active consumption leaders, driving the domestic market. Modern adults aim for 'economic power + physical strength + time availability' rather than 'aging + short stature + unemployment.'

There are quite a few success stories. Life patterns change as people age. New markets open up from these subtle changes. A representative trend is the desire to spend mornings actively. Sports and leisure facilities are proactive. They open earlier to accommodate early morning activities. Table tennis centers (Uptitakgu Station) offer lessons from the morning. Traditional music and piano schools in residential areas also strengthen services to suit morning-type modern adults. Bowling alleys (Round One) offer discounts from 5 to 8 a.m. on weekends and holidays, confirming demand from modern adults. Karaoke venues (Fukuoka Karaoke) respond with a 400 yen marketing price for full-time use from 6 a.m. to noon. Discount tickets including breakfast priced at 690 yen sell out after release. The popular gyudon chain also targets morning demand, offering tailored menus for breakfast during morning walks. Buffet chains (Coco’s) differentiate weekday and weekend prices to encourage weekday visits by modern adults, responding with fresh dishes like handmade bread.

The market and corporate responses are active. This is the birth of a 'new adult market' that breaks fixed ideas. They analyze modern adults not only for quantitative growth in customer size but also for qualitative changes. Since the consumption scale of the new adult market reaches 60%, it cannot be overlooked. Looking ahead, the strategy is to lead the culture driven by new adults and target overseas markets facing massive demographic changes. Most companies have established specialized departments to study modern adults, and some experiment with large-scale advertising and differentiated business models to gain market advantage. The general approach can be summarized as △ excluding existing elderly keywords such as senior, retirement, second life △ presenting the sense of 'life starts now' to give hope for the future △ enhancing communication effects by using famous peers to present new adult models.

Travel agency HIS also focuses on adult customers
Less text and emphasized features more effective than complex, detailed flyers

Korean baby boomers entering age 65 this year
Higher economic power than previous adults
Birth of a 'new adult market' breaking stereotypes

So, what consumption points do new adults care about? Related keywords generally include three-generation communication, shared luxury for couples only, rapid increase in online (computer, mobile phone, etc.) use, worry-free financial life, husband’s exclusive trust in wife, excellence in dietary habits (expectation and satisfaction of three meals a day), current health and future disease anxiety, strong desire for intergenerational exchange, male dreams after retirement, maturity with sense, improved marital relations, shift from saving elderly to investment consumption, trend from light eating to meat consumption. At the same time, they are emerging as media senders, social contribution elders, creators of lifestyle from quiet old age, shifting travel from sightseeing spots to wife-prioritized free style, and moving from caregiving anxiety to caregiving prevention. Other new phenomena of modern adults include changing from doting grandparents to grandchild friends, self-expression of middle-aged and elderly women, rejection of senior identity, and filial piety gifts as family dining. These few newly highlighted keywords alone confirm the changed consumption orientation of modern adults.

Korea is still behind. There are few notable experiments or models related to modern adults. However, momentum is expected to build gradually. From 2020, the emergence of modern adults will become full-fledged. Although the start is modest, looking at the distinctly changed middle-aged consumption, the leadership and potential of modern adults are significant. This is not the old elderly struggling with a relative poverty rate approaching 50%. They are a large, wealthy, healthy, and diversified new demographic group. The broad baby boomer generation (born 1955?75, 17 million people) has already entered their mid-60s, the retirement age. They receive substantial national pensions under full conditions and will steadily enter age 75 by 2030. Increasing contact frequency with these modern adults and modifying and expanding business models accordingly is not optional but essential. It is a strong foundation for survival and growth.

There are attempts. AK Plaza (Bundang branch) recently opened a dedicated study club for senior customers, the first in the department store industry. With sales from customers aged 50 to 70 approaching 40%, they established the 'Beautiful Life School' where people learn from and teach each other. After launching courses in psychology, Japanese, Western art history, registrations have been increasing. Sales effects have also been realized, with average purchase amounts of students higher than general members. Lotte Department Store, which failed with a silver edit shop, succeeded in a turnaround by reading the psychology of modern adults who want to look young and slim, offering body-shaping jeans. The content was silver, but the packaging was replaced with youthfulness, which worked. Another case (Efluvi) evolved senior-exclusive products like magnifiers and eyeglass cords by adding unique designs, transforming functional items into fashion items and eliminating the old image, successfully capturing the preferences and sensibilities of modern adults. Thus, modern adults are steadily being discovered and spread. The day when a big market opens in Korea is not far off.