Retailers target wealthy “urban grannies”

/ Courtesy of M Public

By Rachel Lee

The country’s fashion and beauty firms are benefitting from the advent of a new consumer group known as “urban grannies” _ sophisticated women in their 50s and 60s.

The buzzword refers to women who spend a great deal of time and money on themselves as a reward for looking after their grandchildren, a task often left to grandmothers here.

According to GS Homeshopping, the country’s largest home-shopping company, about 40 percent of purchases made by urban grannies are in fashion and accessories, followed by beauty products and health foods.

Even a few years ago, women in the age group were more likely to spend their money on childcare products and food, industry insiders say.

“From last year, local retailers have started to come up with a variety of products targeting urban grannies’” a local fashion company spokeswoman said.

For instance, premium beauty brands such as La Mer and Sisley are increasingly popular among the group despite their notoriously high prices.

“Our main customers have long been 30- and 40-something women, but more women in their 50s and 60s have taken a fancy to our anti-aging products, such as eye creams, over the last year,” said a spokeswoman for Noesa, a luxury cosmetic line based in Germany and France.

Industry experts say more fashion and beauty firms will roll out new products targeting women in this age group.