Senior-friendly toys fuel growth of China's silver economy

Senior citizens play wooden brain-training toys at an elderly care service center in Yunhe county of Lishui city, East China's Zhejiang province, Nov 10, 2023. [Photo/Xinhua]

HANGZHOU - Inside a senior care home, lively elders gathered around a tabletop hockey game, sharpening their minds and savoring the moment.

These brain-teasing games, once seen as children's play, are quickly becoming the latest craze among older adults.

As China's population ages rapidly, the once-overlooked market for senior-friendly toys is emerging as a new pillar of the booming silver economy.

For Guan Weijiang, a toy merchant in Yiwu, a bustling trade hub in East China, the shift is quite evident.

Over the past year, his online store has experienced a surge in demand for fitness and brain-training toys among older customers. Consumers aged 50 and above now make up 30 percent of his user base.

"Our two best-selling toys fall into the fitness and puzzle categories. They're not physically demanding, but they're fun and perfect for elderly users to exercise or pass the time," Guan said.

"There's actually quite a bit of overlap between toys for children and those for the elderly, as both help improve reflexes, grip strength and coordination. In fact, some children's toys can be easily adapted for seniors with just a few simple tweaks," Guan explained.

Recognizing the potential of senior-friendly toys as a promising niche, he decided to seize the opportunity. Within just three months of launching over 10 products designed specifically for elderly users, his shop's sales far exceeded expectations.

On one of China's leading e-commerce platforms, Taobao, searches for "senior-friendly toys" jumped 124 percent year-on-year, with transaction volumes increasing by over 70 percent. Consumers aged 55 and above now make up a growing proportion of buyers, and their purchasing frequency is accelerating.

Seeing the expanding market, an increasing number of toy manufacturers across China are shifting their focus to meet the demands of older consumers.

According to Cheng Xin from Taobao's toys and collectibles team, the platform is seeing a wave of new shops selling toys for the elderly, with some newly established and many others converted from former children's toy stores.

"Toys are no longer just for children or symbols of pop culture. They are lifelong hobbies that can bring joy and mental enrichment to consumers of all ages," Cheng said, adding that Taobao plans to launch a dedicated category for senior-friendly toys, along with tailored operational support for the segment.

The rise of senior-friendly toys is not only creating new consumer demand but also catalyzing transformations across traditional industries.

Yunhe county in Zhejiang province, widely known as China's "Wooden Toy Capital," stands out as a particularly striking example.

Building on decades of industrial experience, Yunhe is now integrating wooden toys with elderly care to develop an innovation-driven industry chain focused on cognitive wellness and entertainment.

The key to this transformation lies in shifting from "fun" to "function." So far, local manufacturers have developed over 200 wooden toys designed to improve hand-foot coordination and help slow memory loss among older adults.

According to Yin Qian, president of Zhejiang Mimi Zhikang Technology Co, the company has developed over 100 wooden puzzle toys that are both entertaining and mentally stimulating.

To enhance the cognitive and rehabilitative benefits of its products, the company collaborated with the Health Science Center (HSC) of Xi'an Jiaotong University and an Alzheimer's prevention group based in Shaoxing, Zhejiang province.

So far, the company has secured more than 30 patents and supplies products to over 500 elderly care institutions across the country.

Meanwhile, Yunhe is also eyeing international markets. In recent years, the county has expanded exports of its wooden toys to senior schools, nursing homes and community centers overseas.

"In 2024, our products were successfully exported to Germany, Japan, and other markets, where they've been warmly received by elderly users," Yin said.

In the first quarter of this year, the company's sales of elderly-oriented wooden toys rose 50 percent year-on-year.

According to the Ministry of Civil Affairs, China's elderly population is projected to grow by more than 10 million annually over the next decade. By 2035, the silver economy is expected to account for 9 percent of China's GDP, up from 6 percent today.

Data from market research firm iiMedia Research shows that China's elderly care industry reached 12 trillion yuan ($1.68 trillion) in 2023, up 16.5 percent year-on-year. The silver economy is projected to hit around 30 trillion yuan by 2035, accounting for about 10 percent of GDP.

The innovation in niche segments is opening up new avenues in the silver economy, according to Zhang Jinsong, secretary general of the Elder Education on Aging Committee of China Gerontological Society.

"The silver economy is poised to evolve from meeting basic needs to fulfilling aspirations for quality and enjoyment," he said. "That shift will unleash enormous potential."