|
|
Consumer Uncertainty 2003Published by: Datamonitor Published: Sep. 24, 2003 - 46 Pages Table of ContentsTABLE OF CONTENTS CHAPTER 1 INTRODUCTION 7 CHAPTER 2 THE LIFE STAGES 8 Defining life stages 8 CHAPTER 3 TWENTY-SOMETHINGS: PREPARE FOR TAKE-OFF 10 Financial attitudes 10 Market size 11 The key life events 12 Higher or further education 13 Starting a permanent job 16 Buying a house 19 Co-habitation/marriage 22 CHAPTER 4 MID-LIFERS: HOPING FOR A SMOOTH LANDING 26 Financial attitudes 26 Market size 27 Key life events 28 Emptying the nest 28 Retirement 30 Planning for the family’s future 34 CHAPTER 5 CONCLUSIONS 37 Twenty-somethings 37 Mid-lifers 37 Action points 38 CHAPTER 6 APPENDIX 41 Supplementary data 41 Research methodology 43 Further reading 43 Datamonitor Reports 43 Do you need further information? 45 Datamonitor financial services consulting 45 FS writing team 46 LIST OF TABLES Table 1: Size of twenty-somethings (18-29 year olds), 1997-2007, million 12 Table 2: Students aged over 15 in western Europe, 1997-2007, million 13 Table 3: Students as a percentage of 15-29 year-olds 14 Table 4: Career starters, 18-24 year olds, 1997-2007, million 17 Table 5: Career starters as a percentage of 18-24 year olds, 1997-2007 17 Table 6: First-home buyers, 1997- 2007, million 20 Table 7: First home buyers as a percentage of 20-29 year-olds, 1997-2007 20 Table 8: Average age of marriage, and percentage ever married aged 20-24, by country 23 Table 9: Number of mid-lifers (35-49 year olds), 1997-2007, million 28 Table 10: Empty nesters, 1997-2007, million 29 Table 11: Retirees, 1997-2007, million 31 Table 12: The most important factor influencing the choice of student account/provider 41 Table 13: Financial decision making amongst co-habiting 18-29 year olds 41 Table 14: Saving for retirement 42 Table 15: “I’m afraid I won’t have enough money to retire” 42 Table 16: “How important is it for you to plan for your family's future at your death or disability?” 42 Table 17: “I’m afraid my family will be financially insecure when I die” 43 LIST OF FIGURES Figure 1: Twenty-somethings and mid-lifers as a proportion of the overall population, by country and year 9 Figure 2: Twenty-somethings are reasonably concerned but are putting very little by 11 Figure 3: Most students choose their student bank account due to experience with a provider 15 Figure 4: Students and new career starters as a percentage of 15-29 year olds, 2002 18 Figure 5: Financial decision making amongst co-habiting 18-29 year olds 24 Figure 6: Older consumers are far more concerned about financial insecurity and save a greater proportion of their income 27 Figure 7: By middle-age most consumers have begun planning for retirement 32 Figure 8: I’m afraid I won’t have enough money to retire 33 Figure 9: The importance of planning for the family’s future in case of death or disability 35 Figure 10: I’m afraid my family will be financially insecure when I die 36 Figure 11: Targeting consumers at key life stages 39 AbstractIntroduction:Consumers review their financial situations frequently during their lives. However, there are certain life stages when the need to reassess one’s financial situation becomes far more pronounced. At these time consumers become uncertain, looking for solutions to their problems. Targeting consumers at these life stages therefore provides significant opportunities to acquire new and loyal customers. Scope: * Detailed analysis of consumer uncertainty at key life stages within the twenty-something (18-29 years) and mid-lifer (35-49) age groups * Key data on market sizes in 7 leading European countries: France, Germany, Italy, The Netherlands, Spain, Sweden, UK plus forecasts to 2007 * Essential implications and action points for financial services companies looking to target these key consumer groups * European wide surveys of consumers in key age groups to determine the variations in international experience Report Highlights: Financial concerns plague twenty-something consumers because they suffer a conflict between wishing to enjoy their youth and their hard-earned money, and the pressure to save responsibly. Marketing to younger consumers should therefore take into account the insecurity caused by these pressures. For mid-lifers financial insecurity is a serious concern due to greater financial commitments such as mortgages, families and impending retirement. However, they also want to be able to enjoy the fruits of their labor. Marketing should therefore focus on the financial concerns of planning for the future and indulging oneself to the fullest extent. Financial uncertainty is driven by key events in life, but it is at its peak before the events occur - consumers adapt rapidly to new situations once they happen. The right time to target consumers with age-driven marketing, therefore, is just before these stages when consumers are most open to marketing that offers solutions to their problems. Reasons to Purchase: * Identify the current and potential size of key consumer segments then increase market share by pinpointing and targeting consumers ready for change * Improve the relevance of marketing through an appreciation of consumer needs * Use Datamonitor's analysis to enhance your product offering to suit the precise needs of these consumer groups. Get Full Details About This Report >> |
|
|||
|
About MarketResearch.com
|
||||