Brazil already has more than 33 million people aged 60 or older and is on track to become the country with the fifth-largest elderly population in the world. This demographic generates BRL 2 trillion annually, according to a study by the consulting firm Data8.

This economic potential is driven by both consumers and entrepreneurs in the so-called silver economy, a term referring to gray hair.

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To serve this demographic, business models must adapt to new demands. They seek better lighting in stores, clear signage, accessibility, welcoming service, and a simplified purchasing process. Entrepreneurs who offer these advantages tend to be preferred by older consumers, says Gilvany Isaac, national manager of the Senior Entrepreneurship 60+ program at the Brazilian Micro and Small Business Support Service (Sebrae).

“I believe the silver economy reflects the structural transformation of Brazilian society. Businesses that understand this shift and develop products aligned with it will not only tap into a growing market but also contribute to a more inclusive, sustainable development model focused on longevity,” says Isaac.

Retired banker João Gualberto de Almeida Teixeira belongs to the 70+ demographic. He stresses that what he misses most in customer service is attention.

“I’ve noticed that when you go somewhere, staff are often distracted, looking at other things, and don’t give you the attention you desserve - and, more importantly, need. It’s about being served attentively, that is, eye to eye. That’s fundamental,” says Teixeira.

Sectors

Among the sectors with the greatest potential for the 60+ demographic, Gilvany Isaac highlights health and wellness, such as specialized fitness centers. “This includes adapted training, personalized guidance, and a focus on functionality rather than just aesthetics.”

Another promising niche is telemedicine and remote health monitoring services. “Caregivers are also gaining significant traction, as they can operate as individual microentrepreneurs (MEIs) and obtain a National Registry of Legal Entities (CNPJ). This is increasingly important for families seeking the security of a formal contract, as well as for the caregivers themselves,” notes Isaac.

Another sector with significant potential to serve this population is tourism and leisure - especially companies that offer off-season packages with cultural itineraries and experiential travel. She also highlights financial services, such as planning for active retirement, as well as adapted housing.

“We’re talking about architectural and housing accessibility solutions that adapt homes to provide greater comfort for older adults,” she explains.

Isaac also notes a growing trend in e-commerce among consumers aged 60 and older. They are buying more online, but greater digital engagement is still needed, as this group remains the segment most frequently targeted by scams. There has also been a rise in computer and digital literacy courses aimed at this demographic.

Honey

Microentrepreneur João Lopes approached Sebrae Rio de Janeiro to learn how to structure his business to specifically serve the 60+ demographic. In June 2024, he launched Mel Mania, which sells honey. At 54, João saw a strong business opportunity in this segment.

“My target audience is entirely 60+. I have an 84-year-old customer who buys every month, almost like a subscription. The whole family consumes it, but he is the main buyer,” explains Lopes .

In addition to selling honey nationwide, the company provides free training to people with unused space for honey production. Lopes supplies equipment and support and then buys the honey from his partners. Mel Mania has already introduced 112 people to beekeeping.

“After going through Sebrae, I realized that I am a social entrepreneur, because my business has a positive impact on society. Anyone who buys my honey knows they are helping generate income for others,” he adds.

Training

In Rio de Janeiro, Sebrae is developing a project specifically aimed at serving older adults who wish to remain productive. Sebrae Silver Economy is in its third edition, and the next cohort will begin in May. In total, 144 people have already participated in the program.

The participants are predominantly women and come from a wide range of sectors.

“Many people are starting businesses in gastronomy, the creative economy, crafts, fashion, beauty, and consulting-related services,” explains project manager and Sebrae Rio de Janeiro analyst Juliana Lima.

Regarding senior consumers, Juliana Lima highlighted a rapidly expanding market, as aging in Brazil has evolved. “The profile of older adults has changed. Today, they no longer stay at home as they did in the past. They are active - they travel, date, study, and care about beauty and well-being.”

The Sebrae Silver Economy project works in partnership with other institutions, such as the Social Service of Commerce (Sesc) and the state government, to expand its reach. As of October last year, so-called senior entrepreneurs accounted for 16 percent of all business owners in the state of Rio de Janeiro.

“The population is aging more actively, but the market still presents barriers. Due to ageism in the formal workforce, seniors often turn to entrepreneurship to generate income,” adds Lima.

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