Fear of Ageing

Overview
Introduction
Part of the NCI series

FUTURE DECODED
This chapter details the opportunity that fear of ageing presents to manufacturers and retailers, consumers responses to fear of ageing and the market value of fear of ageing purchases
Fear of ageing is most common among twenty-somehitng and mid-lifers (35-49)
Fear of ageing breaks down into: financial insecurity; fear of physical deterioration; fear of loss of attractiveness; fear of being unable to cope with new situations
By 2007, fear of ageing purchases will be worth €30 billion

ACTION POINTS
Different age groups have different responses to fear of ageing. Manufacturers and retailers should be careful to provide solutions which are targeted to the specific problems facing each generation. The goal of age-driven marketing is to form a bond with the consumer that will last from the original concern over ageing until such time as the need for the product no longer exists. It is not enough just to present a functional solution to a problem - the consumer must also form bond with the product or brand such that it becomes an integral part of the new lifestyle. Consumers fear of ageing is greatest just before the event which is causing them concern - once it arrives and they are forced to deal with, it becomes a practical problem and consequently less worrying. The right time to target consumers with age-driven marketing, therefore, is not after they reach key lifestages, nor during, but just before.

APPENDIX
This chapter contains further data, research methodology and sources used in the report.

DATASETS
Table 1: Size of twenty-somethings (m) 1997-2007 and CAGR
Table 2: Number of middle aged (m) 1997-2007 and CAGR
Table 3: Students aged over 15 (m) in western Europe, 1997-2007 and CAGR
Table 4: Students as a percentage of 15-29 year-olds
Table 5: Career starters (m), 1997-2007 and CAGR
Table 6: Career starters as a percentage of 15-29 year olds, 1997-2007 and CAGR
Table 7: First-home buyers, 1997- 2007 and CAGR
Table 8: First time buyers as percentage of 20-29 year-olds, 1997-2007 and CAGR
Table 9: Menopausal women (m) 1997-2007 and CAGR
Table 10: Empty nesters (m) 1997-2007 and CAGR
Table 11: Andropause sufferers (m) 1997-2007 CAGR
Table 12: Retirees (m), 1997-2007 and CAGR
Table 13: Age-driven spending, by market sector (€m), 1997-2007 and CAGR
Table 14: Age-driven spending by country (€m), 1997-2007 and CAGR
Table 15: Per capita age-driven spending, by country (€) 1997-2007 and CAGR
Table 16: Age-driven personal care purchases (€m), 1997-2007 and CAGR
Table 17: Age-driven make-up purchases (€m), 1997-2007 and CAGR
Table 18: Age-driven skincare purchases(€m),, 1997-2007 and CAGR
Table 20: Age-driven facial care purchases(€m), 1997-2007 and CAGR
Table 19: Age-driven haircare purchases(€m), 1997-2007 and CAGR
Table 21: Age-driven fragrance purchases(€m), 1997-2007 and CAGR
Table 22: Age-driven alcohol spending (€m), 1997-2007 and CAGR
Table 22: Age-driven beer spending (€m), 1997-2007 and CAGR
Table 23: Age-driven spirit spending (€m), 1997-2007 and CAGR
Table 25: Age-driven ready meal spending (€m), 1997-2007 and CAGR
Table 26: Table of definitions
Figure 1: Twenty-somethings and the middle aged as a proportion of the overall population, by country and year
Figure 2: Life stages by level of targeting and impact on lifestyle
Figure 3: Students and new career starters as a percentage of 15-29 year olds, 2002
Figure 4: Age-driven reasons for saving money
Figure 5: Saving priorities for consumers concerned by their financial future
Figure 6: Consumer attitudes to the physical and mental effects of ageing
Figure 7: Consumers’ response to fear of physical decay
Figure 8: Consumer attitude to the physical signs of ageing
Figure 9: Age-driven changes to personal care spending
Figure 10: Consumers’ attitudes to age, approaching milestones and current milestones.
Figure 11: Attitudes to ageing between different age groups
Figure 12: Specific fears about age compared against age groups
Figure 13: The effects of fear of ageing on the likelihood of changing spending patterns for different age groups
Figure 14: The importance of feeling attractive for different age-groups
Figure 15: Action taken in response to fear of physical ageing, by age group
Figure 16: Level of saving by age group
Figure 17: Areas for saving money by age group
Figure 18: Targeting consumers by fear of ageing