As China's elderly population grows, shopping malls in Shanghai have actively adapted part of their services to cater to the needs and preferences of elderly consumers, tapping into silver-haired consumer market.
This trend reflects the city's efforts to enhance elderly care services amid the population aging. By the end of 2023, people aged 60 and older reached 5.68 million in Shanghai, representing a whopping 37.4 percent of the city's total population.
A shopping mall on the downtown Nanjing East Road pedestrian street has opened a dedicated club for senior citizens, offering a diverse range of activities from the operation of health workshops to traditional handicraft classes.
"I gain a lot every time I come here. I can participate in various club activities and also exchange knowledge and everyday life hacks with others," said Fu Meilin, an elderly resident.
The mall houses nearly 60 time-honored brands, along with dining and entertainment options suited to senior citizens.
Another business district in Shanghai's Putuo District has adopted a different approach, focusing on attracting retirees during weekdays while catering to younger shoppers on weekends.
Restaurants offer affordable off-peak meal deals priced under 100 yuan (about 13.88 U.S. dollars), attracting a large number of senior customers.
To ensure a convenient and enjoyable shopping experience for the elderly, many shopping malls have conducted age-friendly renovations, including providing comfortable seating areas, accessible restrooms, and consumer guidance services for the elderly shoppers.
Driven by the population aging, China's "silver economy" has shown vast growth potential, with the market currently estimated at around seven trillion yuan and projected to reach a 30 trillion yuan by 2035.
Shopping malls in Shanghai adapt to cater to growing 'silver economy'
U.S. stocks finished slightly higher on Monday, staging a late-session recovery as investors navigated a volatile landscape marked by a criminal probe into the Federal Reserve leadership.
The Dow Jones Industrial Average rose 86.13 points, or 0.17 percent, to 49,590.2. The S&P 500 added 10.99 points, or 0.16 percent, to 6,977.27. The Nasdaq Composite Index increased by 62.56 points, or 0.26 percent, to 23,733.9. Despite the positive close, the market experienced significant intraday turbulence, with the Dow dropping nearly 500 points at its session lows.
Nine of the 11 primary S&P 500 sectors ended in positive territory. Consumer staples and industrials led the gainers, rising 1.42 percent and 0.75 percent, respectively. Financials and energy were the primary laggards, declining 0.8 percent and 0.66 percent.
Market sentiment was initially shaken by an announcement on Sunday from Fed Chair Jerome Powell, who confirmed that federal prosecutors are investigating him over the Fed's multi-billion-dollar project to renovate its headquarters. Powell characterized the probe as an attempt by the Trump administration to compromise the Fed's independence.
Further weighing on the financial sector was a proposal by U.S. President Donald Trump to cap credit card interest rates at 10 percent for one year, which triggered a sell-off in banking stocks amid concerns over restricted lending and reduced profitability. Capital One shares plummeted 6.42 percent, while Citigroup, JPMorgan and Bank of America also recorded losses.
In contrast, retail giant Walmart led the Dow's advance, climbing 3 percent following news of its upcoming inclusion in the Nasdaq 100 index. The company also announced a strategic partnership with Google's Gemini AI to enhance the digital shopping experience.
Investors are awaiting Tuesday's release of the U.S. consumer price index for December 2025. Following last week's cooling labor market data, market participants increasingly expect the Fed to maintain interest rates at their current levels during the upcoming January meeting.
U.S. stocks close higher amid criminal probe into Fed chair Powell
