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Empty Nesters 2005Published by: Datamonitor Published: May. 25, 2005 - 74 Pages Table of ContentsTABLE OF CONTENTS CHAPTER 1 EXECUTIVE SUMMARY 3 Hot topic 3 The future decoded 3 Action points 4 CHAPTER 2 THE FUTURE DECODED 14 Introduction 14 TREND: Empty Nesters are a rapidly growing group 15 The number of Early Empty Nesters is growing fastest 16 Empty Nesters change their attitudes and behaviors 17 TREND: Empty Nesters’ expenditure is growing faster than their income 19 Empty Nesters’ incomes vary a lot according to age 19 Empty Nesters are spending more on CPGs 22 Empty Nesters’ per capita food budgets increase 23 Spending on alcohol is limited by health concerns 24 Empty Nesters want to look and feel “good for their age” 25 INSIGHT: Empty Nesters are becoming more experimental and self-indulgent 26 An increase in free time leads to more frequent socializing 26 American Empty Nesters are growing more experimental faster than Europeans 29 INSIGHT: Empty Nesters are increasingly concerned about their health 35 Empty Nesters can address health problems through diet 36 Empty Nesters are more likely to buy organic and fresh products 38 Empty Nesters place more value on taste than on health when making food choices 38 INSIGHT: newly-found spare time means that convenience is less important for Empty Nesters 40 Increased control of their time reduces the need for convenience 40 Conclusions 43 CHAPTER 3 ACTION POINTS 44 Introduction 44 Target Empty Nesters’ attitudes, not their age 44 Use marketing campaigns to shift the “center of gravity” 44 Use ageless marketing to target Empty Nesters 46 Communicate effectively with Empty Nesters 49 Do not patronize Empty Nesters and avoid stereotyping 49 Messages should be clear, straightforward and above all honest 50 Use positive advertising when targeting Late Empty Nesters 53 Focus on certain channels to reach Empty Nesters 54 Use partnership marketing to increase brand appeal 55 Develop partnerships with third parties to promote trust 56 Target Empty Nesters with healthy, high quality and convenient products 58 Target Empty Nesters with convenient products to facilitate their lifestyle 58 Convenient products must provide a quality food experience 59 Encourage Empty Nesters to trade up for special occasions 60 Special occasions require high quality products 60 There are two basic relevant types of special occasion 60 Target Early Empty Nesters’ consumption at work 61 CHAPTER 4 APPENDIX 63 Supplementary data 63 Definitions 73 Research methodology 73 Relevant links 74 How to contact experts in your industry 74 LIST OF TABLES Table 1: Empty Nesters as a percentage of all Seniors, 1999-2009 15 Table 2: Number of Empty Nesters in Europe and the US (m), 1999-2009 17 Table 3: Early Empty Nesters' disposable income as a percentage of the national average, 1999-2009 20 Table 4: Late Empty Nesters' disposable income as a percentage of the national average, 1999-2009 20 Table 5: Annual per capita disposable income of Empty Nesters (€ & US$), 2004-2009 21 Table 6: Empty Nesters' overall spending on groceries, drinks at home and personal care (€bn & US$bn), 2004-2009 22 Table 7: Empty Nesters' annual per head spending on groceries, drinks at home and personal care (€& US$), 2004-2009 23 Table 8: Empty Nesters' annual per head spending on food (€ & US$) 2004-2009 24 Table 9: Empty Nesters' annual per head spending on alcohol (€ & US$) 2004-2009 25 Table 10: Empty Nesters' annual per head spending on personal care (€ & US$) 2004-2009 26 Table 11: Consumer survey: ‘How much more or less have you used your home for entertaining in the past year?’ 29 Table 12: Consumer survey: ‘How much more or less have you tried food and drinks that you haven't tried before in the past year?’ 30 Table 13: Consumer survey: How much do you agree with the following statement: ‘I live for today and not for tomorrow’ 32 Table 14: Consumer survey: ‘How much more or less have you sought more excitement and sensations in your life?’ 33 Table 15: Consumer survey: ‘How much more or less have you spent money on experiencing new things rather than buying more products in the shops in the last year?’ 34 Table 16: Consumer survey: ‘How important to you is improving your health through your diet?’ 37 Table 17: Consumer survey: ‘How much do you agree with the following statement: ‘Taste is more important than health when choosing food and drinks’ ‘? 39 Table 18: Consumer survey: ‘How important are time-saving products and services to you?’ 41 Table 19: Consumer survey: ‘How much more would you be ready to spend on time-saving products and services?’ 42 Table 20: Consumer survey: ‘How much do you trust health-boosting claims made by food and drink manufacturers?’ 51 Table 21: Consumer survey: ‘How much more would you be prepared to pay for an ethical or socially responsible food, drink or personal care product?’ 58 Table 22: Empty Nesters in Europe and the US (m), 1999-2009 63 Table 23: Late Empty Nesters in Europe and the US (m), 1999-2009 64 Table 24: Early Empty Nesters' annual household spending on groceries (€ & US$), 1999-2009 64 Table 25: Late Empty Nesters' annual household spending on groceries (€ & US$), 1999-2009 65 Table 26: Early Empty Nesters' annual per capita spending on alcohol at home (€ & US$), 1999-2009 66 Table 27: Late Empty Nesters' spending on alcohol at home (€ & US$), 1999-2009 67 Table 28: Early Empty Nesters' spending on personal care (€ & US$), 1999-2009 68 Table 29: Late Empty Nesters' spending on personal care (€ & US$), 1999-2009 69 Table 30: Annual per capita disposable income for Early Empty Nesters (€ and US$), 1999-2009 70 Table 31: Annual per capita disposable income for Late Empty Nesters (€ and US$), 1999-2009 71 Table 32: Consumer survey: ‘How much more would you be prepared to pay for a green energy tariff?’ 72 Table 33: Definitions of terms used in the report 73 LIST OF FIGURES Figure 1: In the US, Early Empty Nesters are particularly valuable, earning considerably more than their European counterparts 19 Figure 2: Empty Nesters’ social lives increasingly take place outside the home 28 Figure 3: American Empty Nesters are becoming more experimental than their European counterparts 30 Figure 4: European Empty Nesters in particular want to live for the moment 31 Figure 5: European Empty Nesters are hungrier for excitement 32 Figure 6: Empty Nesters’ desire for new experiences is not always matched by their readiness to spend accordingly 34 Figure 7: Empty Nesters believe that diet is crucial to their health 36 Figure 8: Empty Nesters place taste above health properties 39 Figure 9: Time-saving products and services are less important to Empty Nesters 40 Figure 10: Empty Nesters are less willing than other Seniors to pay more for convenience 42 Figure 11: Target Seniors by shifting the “center of gravity” in marketing campaigns from their chronological age to their desired age 45 Figure 12: Ageless images from the New Balance marketing campaign 49 Figure 13: Empty Nesters are less inclined to trust manufacturers’ health claims 51 Figure 14: Images used in the Dove “Real Beauty” campaign appeal to Empty Nesters 53 Figure 15: Most suitable communication channels for targeting Seniors 55 Figure 16: Partnership marketing alters the image of brands and can make them more appealing to Empty Nesters 56 Figure 17: Many Empty Nesters are willing to spend money on ethically produced goods 57 Figure 18: Products that provide convenience and quality experiences 60 Figure 19: American Empty Nesters are willing to pay more for green energy tariffs than Europeans 72 AbstractIntroductionBy 2009, there will be 181m Empty Nesters in Europe and the US, representing 75% of all over 50s. In 2004, they spent US$698bn on food, drinks and personal care, and this is forecasted to grow by 2.5% a year over the next five years. Empty Nesters are keen to enjoy the newfound freedom afforded them by greater control of their time, increased disposable income and decreased responsibilities. Scope Comprehensive dataset covering Empty Nesters' expenditure on food, drinks and personal care, the size of the group and income. An in-depth exploration of new and emerging need states, attitudes and behaviors determining Empty Nesters' future consumption behavior. Actionable recommendations to capitalize on the consumer trends and insights relevant to Empty Nesters Highlights By 2009, three quarters of all Seniors in Europe and the US will be Empty Nesters, consumers aged over fifty years whose children have left the home. In absolute terms, this means that there will be 181 million Empty Nesters in Europe and the US in five years' time. On average, 54% of European and American Empty Nesters claim that in the past year they have tried new types of food and drinks. European and American Empty Nesters do however show different propensities to experiment, with 49% and 58% respectively claiming to have experimented with new foods over the past year. 35% of Empty Nesters agree that taste is a more important factor than health when choosing food and drink, compared to on average 33% of other Seniors. Reasons to Purchase Understand the growing and emerging need states of Empty Nesters that will drive their spending on goods and services over the next five years Learn how to target Early and Late Empty Nesters more effectively thanks to in depth consumer surveys Increase sales by developing products, branding strategies and marketing messages which meet the specific needs and attitudes of Empty Nesters Get Full Details About This Report >> |
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