The phrase "the gray dollar" refers to the purchasing power of older adults who may be retired or on fixed incomes. Synonyms for this term include "silver spending power," "golden years wealth," and "elderly economic influence." These phrases emphasize the financial power and influence that older adults hold in the marketplace. Other terms that may be used to refer to this demographic include "senior consumers," "mature consumers," and "aging population buyers." Understanding the needs and preferences of this group is important for businesses and marketers who want to tap into this growing market. By recognizing the value of the "gray dollar," companies can develop strategies that cater to this influential group.