Canada's senior citizens are not used to being the centre of attention, but as their numbers swell so does their value to businesses.

In 2004, there were 4.2 million Canadians 65 years and older. Next year there will be close to five million. While there are no figures on the overall economic impact of this demographic cohort, Statistics Canada says they spend about the same amount of their income - four per cent - on discretionary purchases as any other adult age group.

The days of thinking seniors are poor or have everything they need and want are long gone, says Gale West, a professor at Laval University in Quebec City and director of its consumer sciences department.

"They have more money than people think and they're willing to spend it," she says. "(Retailers) are waking up slowly to the fact that seniors are very big consumers today. They're astute and far more loyal than younger groups.

Ashley Fraser, Business Edge
Seventy-four-year-old Nedar Saparno receives hands-on Internet training at the Carlingwood branch of the Ottawa Public Library.

"Our culture's focus on youth is missing a valuable market segment," West adds.

Bonnie Baker-Cowan also has watched seniors become more discerning in her role as editor of 50Plus, the magazine published by the 400,000- member Canadian Association of Retired Persons.

"They're not afraid of trying anything, especially if it's fun. Our (February) cover story was about older people buying motorcycles. What does that tell you?" says Baker-Cowan, whose magazine has one million readers.

"I don't think it matters what aspect of seniors you talk about; they want more out of life and won't hesitate to do what it takes to get it," she says.

Nowhere is that more evident than in education. Health Canada's division of aging and seniors says retirees are heading back to school in droves, and estimates a 20-fold increase in registrations since 1999 - the International Year of the Older Person.

Ryerson University's LIFE (Learning is ForEver) Institute now teaches 2,000 seniors a semester, and that number is growing dramatically, says Sandra Kerr, the institute's director of seniors education programs.

"It always comes back to the attitude that the more you keep your brain active, the better life is," Kerr says. "This kind of empowerment is what we're seeing among a very large number of seniors and it translates directly into market forces."

The benefits of what is known as third-age learning were pioneered in 1975 at U.S.-based ElderHostel, which combined seniors' desire to travel with a thirst for learning.

Today, a large portion of company revenues come from such diversified programs as mountain climbing and archeological digs. The company offers 600 programs in Canada, which draw 8,800 participants.

"(Our business model) is driven by listening to older people to find out what they want, even if it isn't what you'd expect a grandmother to be doing," says ElderHostel spokeswoman Despina Gakapolous.

"I think this increase in adventure programs shows that seniors aren't satisfied with what's been available in the past."

Tailoring products to seniors' needs has huge commercial potential, especially as the leading edge of the Baby-Boom generation moves into its 60s over the next few years.

"Companies that are (prescient) enough to understand that older customers are important will do well because this generation is spending. It's also very demanding, and we're seeing some companies hire older consultants and change store layouts to attract older people," Laval's West says.

"Seniors have more time, but they don't like to waste it. Now they're saying: 'Give it to me straight and let me make my own decisions.' " That self-confidence is relatively new among consumers over 65 and it's a wave that is still building.

Daniel Saikaley, a financial consultant with CIBC Wood Gundy in Ottawa, has seen his older clients switch from one financial instrument to another, depending on risk factors they've learned to understand.

"They've become like any other investor. Right now, there's not a lot of risk-taking because of the way the markets are, but if that changes they won't hesitate to change with it," he says.

Saikaley writes about finance for OttawaSeniors.com and has seen his client base grow steadily because he's learned that seniors hate to be patronized.

"They're much more careful in selecting suppliers, coming in armed with issues they want addressed. They're asking more questions and if they don't get the right answers they'll go find someone else," he says.

The Internet may hold the most potential for those who believe that growing older does not mean doing less. While only about 12 per cent of seniors go online, the number has tripled since 1999, according to Health Canada's division of aging and seniors.

Known as Silver Surfers, they use the Internet for everything from sending e-mail and photos to grandchildren to meeting other singles. They also are contributing to the world's largest repository of family history - the Mormon Genealogical Database - where more than 70 per cent of Canadian input has come from those older than 55.

Industry Canada's Student Connections has helped thousands get online since the program started in 1997. Students are paid to teach seniors how to use the Internet at colleges and universities across Canada.

"The main reason is always 'I have to get online and see what it's all about,' " says Cory Kittel, Student Connections co-ordinator at Wilfrid Laurier University. "But once they know how to use the Net, they're shopping and researching and learning about security, just about everything younger people do.

"If we had space available, there would be way more (seniors) coming in," Kittel adds.

(Mike Levin can be reached at levin@businessedge.ca)