[Senior Trends] The Golden Age of Taste... "How to Live for Myself"

Tolstoy once said, "Taste is the very essence of a person." The dictionary defines taste as "the direction in which one's desires are inclined," and it is also a unique style of each individual. In other words, it is about how I want to live, what I want to do, and what I like. Taste spans various areas, such as food and drink, things to see, and activities to enjoy. It can also change over time as one gains new experiences.

Taste is inherently personal. It begins with an individual feeling drawn to certain things and, through repeated learning and enjoyment, discovering their own preferences. In the era of mass production of a few standardized items, efficiency and uniformity were prioritized, which limited the range of products and services available for consumption. As a result, personalization of taste was only possible within a set framework. However, we now live in an age where small-batch production of a wide variety of goods is possible. Cross-border consumption has become commonplace. This shift has not only changed the consumer market itself but has also led to attempts by individuals to directly influence production.

As a result, the market for seniors' tastes is also opening up. The healthier and wealthier senior generation is actively seeking out sources of vitality to enrich their vibrant "third act" of life. This trend began in the early 2010s, when images of seniors checking off bucket list items like bungee jumping began circulating on social media, and TV programs such as "Grandpas Over Flowers" were planned and became successful. Consumption related to taste, which used to be limited to nostalgia for things only previous generations shared, is now expanding to include things that resonate across generations. Mega-hits like "Mr. Trot" have broadened the definition of taste to encompass anything that can be cherished, respected, and enjoyed. Examples include "Siso," a service curating hobbies and leisure activities for seniors; "Withple," which offers senior leisure experiences; and "Papanana Adventure," a platform supporting adventurous seniors.

In the popular webtoon "I'm a Fan, So What?" 77-year-old Soon-i asks, "What does it mean to live for myself?" The story follows a senior who, after a busy youth, finds herself feeling lethargic in her later years-until she unexpectedly becomes a fan of an idol group (a phenomenon called "deoktong accident," meaning to become a fan by chance, like an unexpected traffic accident), which brings her joy and a renewed sense of self. Previous generations of seniors viewed retirement as a time to wind down and prepare for the end of life, often sacrificing or yielding as parents or children and calmly organizing their affairs with family before death. Active seniors today are different. Various surveys and media data show that, despite anxieties about longevity, they invest in themselves through self-care, health management, and leisure activities. They also have a strong desire to continue learning.

The tastes of seniors are not much different from those of the MZ generation (Millennials and Generation Z). Seniors' preferences are as diverse as their numbers. From coffee and tea, soju and Makgeolli, to sports, music and film genres, games, interior design, fashion, and travel, a wide range of activities and changes are taking place. With relatively more time and financial resources, seniors are able to set influential trends. For example, Monaka, an old-fashioned snack that was nearly forgotten, became a top search term and a major driver of offline retail sales. Cruise travel companies have even tailored their payment systems to suit senior clubs, introducing not only installment payments but also savings plans to accommodate seniors who participate by pooling monthly fees. At BLB Lab, a senior health center run by a former national dance sport athlete, the sarcopenia prevention program is so popular that there is a waiting list for enrollment.

Moreover, "silver surfers" are emerging as taste influencers who lead market trends. Silver surfers are older adults who are financially independent and adept at using IT devices such as the internet and smartphones. After discovering new video content, they enthusiastically share it through social media platforms like Band and Instagram. Seniors, having developed their own likes and dislikes over a long life, often express even stronger individuality and more defined tastes than the MZ generation. Even in fashion, niche preferences such as modified hanbok are gaining popularity for their comfort, and the "granny look" is becoming younger and more widespread.

Consumption related to seniors' tastes could be a breakthrough for the stagnant domestic market. As tastes around the world become increasingly similar, the speed and scope of cultural exchange have expanded. Korean Wave (Hallyu) is also being rediscovered. At a recent youth entrepreneurship competition, a variety of senior-related business ideas were proposed, suggesting that Korea, at the forefront of the aging era, could create active senior taste services and products that become new growth engines and promising future industries. The 50s and 60s active senior generation possesses the most real assets and is highly motivated. They also have a strong inclination to spend for themselves. Life is lived only once-so to those who have worked hard, enjoy it to your heart's content!

Lee Boram, CEO of Third Age