Valentina Duque
Marketing Manager
AMI
Two centuries compressed into two decades. That’s how fast Latin America’s demographic shift has moved — and the economic consequences are only beginning to sink in. The “Silver Economy,” driven by adults 55 and older, is no longer on the horizon. It’s already here.
But in this piece, we’re exploring a specific segment of the silver economy: the boomers, i.e. the people born between 1946 and 1964, who today are between 60 and 78 years old.
What is the true impact of Latin America baby boomers on consumption?
The labor force participation rate of adults aged 65 and older is growing at an annual rate of 10% through 2050.1 According to the IDB,2 the standard of living for older adults has improved over the past 20 years, with many of them joining the middle or upper class—an estimated 42% of older adults now fall into these socioeconomic strata.
The situation, however, varies significantly from country to country, with financially well-off older adults in Uruguay, Brazil, and Chile, in contrast to high levels of extreme poverty in Venezuela, Honduras, and Nicaragua.
30+ Years of Research That Reads the Room
AMI’s consumer studies are built on local context — the kind that turns demographic data into decisions your team can actually act on.
While Generation Z will be a dominant economic force in Latin America in the coming years, right now, the region’s baby boomers are having a significant economic impact. They will account for 25% of the population by 2050, whereas in the 1950s they made up barely 5%.3
In any case, the conclusion is clear:
Baby boomers have gone from being a marginal segment of the economic structure to becoming a cohort with direct influence on household spending. They have accumulated wealth, own their own homes, and have extended family responsibilities. Their economic role is amplified in every context, as they influence the purchasing decisions of their children and grandchildren.
4 Strategic Moves to Win Latin America’s Baby Boomer Consumer
The aging population not only alters the demographic pyramid, but also changes consumption patterns in key categories.
In our work providing clients with data and strategic guidance for this consumer profile, we found that winning LatAm boomer consumers requires three simultaneous perspectives, which happen to align with our market intelligence methodology:
- GROW: How opportunities develop
- MEASURE: How to measure true demand
- PROTECT: What risks must be anticipated in a region as unequal as Latin America
Within this framework, we’ve developed four key strategies for companies that wish to reach LatAm’s baby boomer segment—essentially a playbook they can run.
#1 Don’t Just Chase the Boomer Healthcare Boom — Map It First
The growing proportion of older adults in Latin America is driving the recurring use of checkups, medications, functional nutrition, and preventive services. However, AMI notes that this expansion is not occurring at the same rate across all markets: some countries show greater spending power, others a faster rate of adoption, and still others rely more on the private sector due to gaps in the public system.
The question here is not, “Is there an opportunity?” but rather, “In which subsegments and at what pace?” For many companies, this nuance determines whether they should enter the market, scale up, or adjust their prices and portfolios.
The Boomer Opportunity Looks Different in Every Market
AMI’s consumer insights pinpoint which subsegments are spending, at what pace, and where the private sector has room to move.
#2 Don’t Just Market Health and Wellness to Seniors — They Drive Spending Across the Home
Although aging may sound like a health issue, AMI identifies a cross-cutting effect: boomers make decisions—or exert decisive influence—on spending on food, education, household products, and convenience purchases. This alters the traditional consumer profile, as it positions adults over 65 as the household’s economic hub, rather than as isolated shoppers.
For companies—for example, in the consumer and FMCG sectors—this requires measuring not the individual, but the broader economic unit.
How Much of Your Market Do Boomers Actually Drive?
AMI’s Market Snapshot quantifies the boomer effect on your category — spending share, influence on household decisions, and growth by country.
#3 Anticipate New Financial Needs of Boomers Due to a Longer Working Life and Extended Consumption Cycles
The increase in life expectancy in Latin America does not occur in isolation from the economy. It extends the period of economic activity, planning, and use of services—especially financial and insurance services.
For companies, this opens up opportunities in insurance, savings, flexible retirement, and products that support financial independence. Furthermore, we’ve identified a key difference: boomers aren’t looking for the cheapest option, but rather the most stable and reliable one. They prefer products that reduce risk—not just cost—and offer the opportunity to build trust and loyalty toward pioneering brands or products.
However, it is necessary to assess the risk of vulnerable incomes, insufficient pensions, and actual purchasing power by socioeconomic level. Not all seniors can afford the same price, and companies that ignore this gap overestimate the market. For example, it is estimated that 60% of adults in Latin America over the age of 55 depend exclusively on their earned income, while, at age 65, that same 60% has access to both earned and unearned income.4
Latin America Is Not One Market. Your Data Shouldn’t Treat It Like One.
AMI’s regional market analysis breaks down boomer purchasing power, pension gaps, and spending behavior country by country.
#4: Fix the Friction First: High Digital Usage Doesn’t Mean High Digital Trust
The fact that a majority of adults aged 65 and older go online daily and use digital services does not mean they have fully embraced them. AMI has identified a recurring pattern: high usage, but limited trust. This affects e-commerce, mobile banking, payments, and subscription services.
For businesses, this also signals growth—but a limited one—since not all digital interactions lead to conversions. Furthermore, friction points can result in user churn if interfaces, workflows, and support aren’t optimized.
A Region That Must Be Viewed through a Different Lens
While we hope this playbook inspires you, it’s deliberately broad to convey the overall approach driven by available data on boomer preferences and behavior. However, every company will likely need a more custom approach that fits their product, target market and marketing resources.
Fortunately, that’s another area where we can help you.
Contact us for tailored market research that reveals the true scale of your opportunity in Latin America’s boomer market, or a multigenerational study that captures the full scope of consumer behavior and its impact on your business.
At AMI, we have conducted more than 600 consumer studies in Latin America, focusing on the three key areas that reflect the needs of any business:
- Grow: We identify where the real opportunities lie, which segments are driving expansion, and how to prioritize markets with the highest returns.
- Measure: We accurately assess the market size, analyze the consumer base, and evaluate the potential for adoption by country and socioeconomic level.
- Protect: We anticipate regulatory risks, economic pressures, and competitive shifts that could disrupt your strategy.
Sources
- Sosa, Z. (October 8, 2025). Panorama del envejecimiento en América Latina y el Caribe: desafíos y oportunidades. Seminario internacional sobre las oportunidades y desafíos del envejecimiento demográfico en Colombia y en América latina y el Caribe. CELADE, CEPAL. ↩︎
- BID. (2022). Envejecer en América Latina y el Caribe − Protección social y calidad de vida de las personas mayores. Data available for 2019. ↩︎
- Guitiérrez Henao, A. (2025). 2025-2035 – 10 Realidades del Consumidor Latinoamericado [Paper presentation]. II Seminario Internacional Quality & Materias Primas Expert 2025 ↩︎
- BID. (2022). Envejecer en América Latina y el Caribe − Protección social y calidad de vida de las personas mayores. Data available for 2019. ↩︎
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