Grey Consumer

Published by: Key Note Publications Ltd

Published: May. 1, 2009 - 115 Pages

Table of Contents

Executive Summary

1. Introduction

BACKGROUND

DEFINITION

2. Strategic Overview

POPULATION STATISTICS

Table 2.1: The UK Population Aged Under and Over 45 Years (000), 1986-2006

Table 2.2: The UK Over-45 Population by Age (000), 1986-2006

Table 2.3: Life Expectancy at Birth in the UK by Sex (years), 1991-2006

Table 2.4: Life Expectancy at Age 65 in the UK by Sex (years), 2000-2006

INCOME

Table 2.5: Income and Source of Income in the UK by Age of Head of Household Reference Person† (£ and %), 2007

Figure 2.1: Income and Source of Income in the UK by Age of Head of Household Reference Person† (%), 2007

Table 2.6: Changes in Disposable and Gross Household Income in the UK by Age of Head of Household Reference Person† (£), 2004/2005 and 2007

EXPENDITURE

Table 2.7: Average Weekly Household Expenditure by Age of Household Reference Person† (£), 2007

Table 2.8: Average Weekly Household Expenditure by Age of Household Reference Person† (% of expenditure), 2007

CAR OWNERSHIP

Table 2.9: Household Car Ownership by Age (% of adults), Year Ending March 2008

Savings and Insurance

Table 2.10: Those Who Regularly Spend Money on Insurance Policies, and on Savings and Investments (% of respondents and over-45s), 2008

3. Home and Garden

INTRODUCTION

Table 3.1: Home Ownership by Tenure (% of respondents and over-45s), 2008

EXPENDITURE ON HOUSEHOLD FUEL

Table 3.2: Average Annual Household Expenditure on Electricity, Gas and Other Fuel by Age of Household Reference Person† (£), 2007

EXPENDITURE ON DIY AND HOME IMPROVEMENTS

Table 3.3: Average Annual Household Expenditure on Household Maintenance and Repair, and Alterations/Improvements by Age of Household Reference Person† (£), 2007

Table 3.4: Do-it-Yourself Activities Carried in the Home in the Past 12 Months by Age (% of adults), Year Ending March 2008

EXPENDITURE ON HOUSEHOLD GOODS AND SERVICES

Table 3.5: Average Annual Household Expenditure on Household Goods and Services by Age of Household Reference Person† (£), 2007

EXPENDITURE ON GARDENING

Table 3.6: Garden or Allotment Ownership by Age (% of adults), Year Ending March 2008

Table 3.7: Content of Gardens (% of adults and over-45s), Year Ending March 2008

Table 3.8: Average Annual Household Expenditure on Horticultural Goods, Garden Equipment and Plants by Age of Household Reference Person† (£), 2007

Table 3.9: Garden Items Bought in the Past 12 Months (% of adults and over-45s), Year Ending March 2008

MARKETING AND SUPPLIER ACTIVITY

4. Looking Good and Staying Healthy

INTRODUCTION

EXPENDITURE ON CLOTHING AND PERSONAL APPEARANCE

Table 4.1: Those Who Regularly Spend Money on Clothes (% of respondents and over-45s), 2008

Table 4.2: Average Annual Household Expenditure on Clothing and Footwear by Age of Household Reference Person† (£), 2007

Table 4.3: Average Annual Household Expenditure on Personal Care by Age of Household Reference Person† (£), 2007

HEALTH AND WELL-BEING

Expenditure on Medications

Table 4.4: Those Who Regularly Spend Money on Medications (% of respondents and over-45s), 2008

Vitamins and Supplements

Table 4.5: Vitamins and Other Supplements Taken in the Past 12 Months by Age (% of adults), Year Ending March 2008

Table 4.6: Type of Vitamins and Other Supplements Taken in the Past 12 Months by the Over-45s (% of adults and over-45s), Year Ending March 2008

Smoking

Table 4.7: Those Who Have Smoked Cigarettes in the Past 12 Months by Age (% of adults), Year Ending March 2008

Diet

Table 4.8: Average Annual Household Expenditure on Fresh Fruit and Vegetables (Excluding Potatoes) by Age of Household Reference Person† (£), 2007

Exercise

Table 4.9: Frequency of Taking Part in Sports and Leisure Activities (% of adults and over-45s), Year Ending March 2008

Table 4.10: Average Length of Participation in Sports and Leisure Activities (% of adults and over-45s), Year Ending March 2008

Table 4.11: Those Who Have Visited a Leisure Centre, Health Club or Gym in the Past 12 Months by Age (% of adults), Year Ending March 2008

MARKETING AND SUPPLIER ACTIVITY

5. Leisure and Holidays

INTRODUCTION

EXPENDITURE ON LEISURE GOODS AND SERVICES

Table 5.1: Average Annual Household Expenditure on Audio-Visual, Photographic and Information Processing Equipment by Age of Household Reference Person† (£), 2007

Table 5.2: Average Weekly Household Expenditure on Other Recreational Items and Equipment and on Pets by Age of Household Reference Person† (£), 2007

Table 5.3: Average Annual Household Expenditure on Newspapers, Books and Stationery by Age of Household Reference Person† (£), 2007

Table 5.4: Average Annual Household Expenditure on Recreational and Cultural Services by Age of Household Reference Person† (£), 2007

EATING OUT

Table 5.5: Frequency of Eating Out in Restaurants (% of adults and over-45s), Year Ending March 2008

Table 5.6: Types of Restaurant Visited in the Past 3 Months (% of adults and over-45s), Year Ending March 2008

HOLIDAYS AND TRAVEL

Table 5.7: Average Weekly Household Expenditure on Package Holidays by Age of Household Reference Person† (£), 2007

Table 5.8: Those Who Have had Any Holiday in the Past 12 Months by Age (% of adults), Year Ending March 2008

Table 5.9: Number of Family Members Who Went on Last Holiday by Age (% of adults), Year Ending March 2008

Table 5.10: Spending Plans for Holidays in the Next Year (% of respondents), 2008

Table 5.11: Cruise Taking Habits and Plans (% of respondents), 2008

MARKETING AND SUPPLIER ACTIVITY

6. PEST Analysis

POLITICAL FACTORS

ECONOMIC FACTORS

SOCIAL FACTORS

Table 6.1: People Living Alone in Great Britain by Sex and Age (% of age group), 1986/1987 and 2006

TECHNOLOGICAL FACTORS

Table 6.2: Those with a PC in their Household by Age (% of adults), Years Ending March 2005 and 2008

Table 6.3: Main User(s) of the Household PC (% of adults and over-45s), Year Ending March 2008

Table 6.4: How the Household PC is Used (% of adults and over-45s), Year Ending March 2008

7. An International Perspective

EUROPE

Table 7.1: Population in EU Countries by Age (% of total population), 2006

THE WORLD

Table 7.2: Percentage of the Population Aged 60 or Over, 65 or Over and 80 or Over in the World, Major Areas and Regions, 2007

8. Consumer Dynamics

INTRODUCTION

Demographic Profile

Table 8.1: Demographic Profile of Respondents (%), 2008

Summary of Findings

Table 8.2: Regular Purchases (% of respondents and over-45s), 2008

SPENDING ON LEISURE

Books, Newspapers and Magazines

Table 8.3: Those Regularly Spending Money on Newspapers and Magazines (% of over-45s), 2008

Books, CDs, Records and Tapes

Table 8.4: Those Regularly Spending Money on Books, and CDs, Records and Tapes (% of over-45s), 2008

Eating Out and Drinking in Pubs

Table 8.5: Those Regularly Spending Money on Eating Out and Drinking in Pubs (% of over-45s), 2008

SPENDING ON HOLIDAYS

Table 8.6: Those Regularly Spending Money on Holidays in the UK and Abroad (% of over-45s), 2008

SPENDING ON CLOTHES

Table 8.7: Those Regularly Spending Money on Clothes (% of over-45s), 2008

SPENDING ON HOME AND GARDEN

Table 8.8: Those Regularly Spending Money on Gardening and Home Improvements (% of over-45s), 2008

SPENDING ON MORTGAGE OR RENT

Table 8.9: Those Regularly Spending Money on Mortgage and Rent (% of over-45s), 2008

SPENDING ON FINANCIAL PRODUCTS

Table 8.10: Those Regularly Spending Money on Insurance Policies, and Savings or Investments (% of over-45s), 2008

SPENDING ON MEDICATIONS

Table 8.11: Those Regularly Spending Money on Medications (% of over-45s), 2008

9. Company Profiles

INTRODUCTION

AGE CONCERN AND HELP THE AGED

Corporate Strategy

Age Concern

Help the Aged

Profitability

Table 9.1: Financial Results for Age Concern Enterprises Ltd (£000), Years Ending 31st March 2006-2008

Table 9.2: Financial Results for Help the Aged (£000), Years Ending 30th April 2006-2008

Recent and Future Developments

SAGA GROUP LTD

Corporate Strategy

Profitability

Table 9.3: Financial Results for Acromas Holdings Ltd (£000), 19 Weeks Ending 31st January 2008

Recent and Future Developments

10. The Future

POPULATION FORECASTS

Table 10.1: Projected UK Population (000 and %), Mid-Years 2008-2013

Figure 10.1: Projected UK Population (000), Mid-Years 2008-2013

Table 10.2: Projected UK Population of Adults Aged 45 and Over by Age (000), Mid-Years 2008-2013

11. Further Sources

Publications

General Sources

Government Sources

Other Sources

Key Note Sources

Abstract

There are a number of social and demographic reasons behind the dramatic increase in the over-45 population, which grew from 21 million in 1986 to 24.7 million in 2006. It is well-known that the post-war `baby boom' — an increase in the birth rate that lasted from the mid-1940s to the early 1960s — has created a population `bulge' at each successive age group reached by those born during this period. As the `baby boomers' reach late middle age, the effect is compounded by an increase in life expectancy, which can be attributed to advances in healthcare and improved living conditions. This is a key factor explaining the large increase in the number of over-75s during the past 20 years.

Although the current state of the property market means that home ownership no longer offers quite the same level of financial security that it used to, it is still a good measure of prosperity. The years immediately after children have flown the nest can be a prime time for spending money on the home. Consumers tend to have more disposable income and may wish to make improvements to rooms such as kitchens and bathrooms, which may be showing signs of the wear and tear inflicted by family life.

Health and fitness has always been particularly important to the over-45s, especially as this is when a number of ailments associated with ageing (such as arthritis and heart problems) begin to make themselves felt. A newer phenomenon is the fact that this age group has become increasingly interested in their personal experience and are prepared to spend time and money on products and services that help them to `hold back the years'.

Older consumers tend to have more leisure time than younger ones, as well as having a generally higher disposable income (especially among those who are still in employment). This makes them an important target market for travel and leisure companies.

Key Note's exclusive consumer research revealed that there are relatively few major differences between the spending habits of adults over 45 and those of the population as a whole. The most noticeable discrepancies were in the area of leisure spending, specifically that they were much more likely than average to spend money on gardening, and considerably less likely to spend money on drinking in pubs.

Forecasts for the period mid-2008 to mid-2013 indicate that the number of over-45s in the UK population will continue to increase at a faster rate than the under-45s. Among the over-45s, the greatest growth will take place in the 65 to 69 age bracket, with the number of 60 to 64 year-olds predicted to decline during this period.

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