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- Taobao, the Alibaba-backed online retailer, has launched a customized version of its app for elderly users.
- China has 255 million people aged over 60, a largely untapped market potentially worth billions in revenue.
- The company recently began recruiting for two elderly workers to improve its app for older users.
- Nestle, IBM, and Apple have all begun targeting older consumers in China and Japan.
While most companies are still figuring out how to capture the millennial market, Taobao, the Alibaba-backed online retailer, has its focus set on China's growing population of senior citizens.
Last week the company launched an "elderly-friendly" version of its app that the company hopes will capture the attention of aging Chinese. There are currently 222 million people aged over 60 in China and, by 2020, that number is expected to hit 255 million— almost 20% of the country's population.
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