Over-50s Consumer- 2009 Edition

Over-50s Consumer- 2009 Edition

Adults aged 50 and over accounted for 34% of the total UK population in 2007. Official forecasts indicate that the number of UK residents aged 45 and over will increase by 7.7% between 2008 and 2013, meaning that the over-50s are an increasingly important group for companies to target.

This report takes an in-depth look at the lives of those aged 50 and over. In particular, it looks at the behaviour and attitudes of this important demographic group in relation to: health, diet and appearance; home, work and finance; and leisure time and holidays.

An exclusive consumer survey commissioned by Key Note for this report found that health is an important issue for the over-50s, with a significant minority of respondents agreeing that they worry `a lot' about their health. Appearance is also high on the list of over-50s' priorities, with the vast majority of respondents claiming to take pride in their appearance.

Looking after relatives is fairly common among consumers in this age group, with many respondents still having children living at home and/or regularly spending time caring for older relatives. Despite these responsibilities, few of those questioned had paid for help with their household chores.

The importance of holidays to this age group is highlighted by the fact that a significant minority agree that they take more holidays and short breaks now than they did 10 years ago. However, very few have been on a trip organised by a company that specialises in travel for those aged 50 and over.

Overall, respondents seem content with their quality of life, with more than half of those aged 50 and over telling Key Note that they are happier with their quality of life now than they were in their 20s and 30s.

Executive Summary

1. Introduction

REPORT FOCUS

DEFINITION

2. Strategic Overview

DEMOGRAPHIC BACKGROUND

Table 2.1: UK Resident Population by Age (000), Mid-Years 2004-2007

Table 2.2: UK Resident Population — Under-45s and Over-45s (000 and %), Mid-Years 2004-2007

Table 2.3: UK Resident Population — Over-50s by Sex and Age (000 and %), Mid-Year 2007

THE CONSUMER

3. Health, Diet and Appearance

ILLNESS

Table 3.1: Penetration of Self-Reported Long-Standing Illness in Great Britain by Sex and Age (%), 2006

CONCERN ABOUT HEALTH

PRIVATE HEALTHCARE

Table 3.2: Penetration of Private Health Insurance in Great Britain by Age of Insured Person (% of adults), March 2008

Table 3.3: Who Pays for Private Health Insurance in Great Britain by Age of Insured Person (% of adults), March 2008

OBESITY

Table 3.4: Penetration of Raised Waist Circumference† in Great Britain by Sex and Age (% of adults), 2006

PHYSICAL ACTIVITY

Table 3.5: Proportion of Adults in England Achieving the Physical Activity Guidelines by Age and Sex (%), 2006

EXPENDITURE ON FOOD

Table 3.6: Average Weekly Household Expenditure on Food and Non-Alcoholic Drink in UK Households Headed by Adults Aged Over 50 (£), 2006

CONSUMPTION OF FRUIT AND VEGETABLES

Table 3.7: Number of Portions of Fruit and Vegetables Consumed per Day by Sex and Age (% of adults), 2006

CONSUMPTION OF ALCOHOL

Table 3.8: Number of Units of Alcohol Consumed per Day† by Sex and Age (% of adults), 2006

ATTITUDES TOWARDS HEALTHY EATING

Table 3.9: Attitudes Towards Healthy Eating by Age (% of respondents), 2008

LOSING WEIGHT

Table 3.10: Proportion of Adults Who Are Dieting or Trying to Lose Weight by Age (%), 2008

IMPORTANCE OF APPEARANCE

MARKETING AND ADVERTISING

Table 3.11: Main Media Advertising Expenditure on Private Healthcare Insurance by Brand (000), Years Ending December 2007 and 2008

4. Home, Work and Finance

FAMILY

HOUSEHOLD CHORES

OWNERSHIP OF COMPUTERS

Table 4.1: Ownership of a Personal Computer at Home by Age (% of adults), March 2008

ACCESS TO THE INTERNET

Table 4.2: Penetration of an Internet Connection at Home by Age (% of respondents), 2007

USES OF THE INTERNET

Table 4.3: Selected Uses of the Internet in the UK by Age (% of adult Internet users), 2007

OWNERSHIP OF TELEVISIONS

Table 4.4: Household Ownership of Television Sets in Great Britain by Age (% of adults), March 2008

Satellite/Cable Television

Table 4.5: Household Ownership of Satellite/Cable Television in Great Britain by Age (% of adults), March 2007

OWNERSHIP OF MOBILE PHONES

Table 4.6: Household Ownership of Mobile Phones in Great Britain by Number of Phones Owned by Age (% of adults), March 2008

OWNERSHIP OF DIGITAL RADIOS

Table 4.7: Household Ownership of DAB Radios in Great Britain by Age (% of adults), March 2008

SPENDING MONEY

Table 4.8: Products/Activities on Which Consumers Regularly Spend Money by Age (% of respondents), 2008

DONATING TO CHARITY

Table 4.9: Proportion of Adults Making Charitable Donations of £5 or More in the Last 12 Months by Age (%), March 2008

Table 4.10: Proportion of Adults Making Charitable Donations of £5 or More in the Last 12 Months by Age and Amount (% of adults), March 2008

RETIREMENT AGE

Table 4.11: Ideal and Actual/Expected Retirement Age of Those Who Are Still Working and Those Who Are Retired (% of respondents), 2008

PENSIONS

Table 4.12: Penetration of Pension-Scheme Membership in Great Britain by Sex, Age and Type of Pension Scheme (% of adults), 2006

RETIREMENT INCOME

Table 4.13: Is Your Retirement Income Sufficient? (% of respondents), 2008

WORKING DURING RETIREMENT

Table 4.14: Do You Have a Paid Job Whilst Being Retired? (% of respondents), 2008

MARKETING AND ADVERTISING

Table 4.15: Main Media Advertising Expenditure on Pensions (£000), Years Ending December 2007 and 2008

5. Leisure Time and Holidays

LEISURE ACTIVITIES

Table 5.1: Leisure Activities Taken Part in at Least Once a Week by Age (% of respondents), 2008

ART EVENTS

Table 5.2: Attendance at Art Events in England in the Last 12 Months by Age (% of adults), 2005/2006

LISTENING TO THE RADIO

Table 5.3: Average Number of Hours per Week Spent Listening to the Radio in the UK by Age, Fourth Quarter 2008

EATING IN RESTAURANTS

Table 5.4: Penetration of Restaurant Visits in the Last 12 Months by Age (% of adults), March 2008

Table 5.5: Frequency of Eating in a Restaurant by Age (% of adults), March 2008

NUMBER OF HOLIDAYS TAKEN

Table 5.6: Number of Holidays or Short Breaks Taken in the Last 12 Months by Age (% of adults), March 2008

Table 5.7: Number of Holidays or Short Breaks Taken at Home and Abroad in the Last 12 Months by Age (% of adults), March 2008

USE OF SPECIALIST 50+ TRAVEL COMPANIES

MARKETING AND ADVERTISING

Table 5.8: Main Media Advertising Expenditure by Selected Holiday and Travel Brands (£000), Years Ending December 2007 and 2008

6. An International Perspective

THE WORLD'S AGEING POPULATION

Table 6.1: Proportion of the World Population Aged 50 or Over (%), 1996-2008

By Region

Table 6.2: Proportion and Forecast Proportion of the Population Aged 50 or Over and Aged 80 or Over by World Region (%), 2008, 2020 and 2035

By Country

Table 6.3: The World's 25 `Oldest' Countries (% of population aged 65 or over), 2008

7. PEST Analysis

POLITICAL FACTORS

ECONOMIC FACTORS

SOCIAL FACTORS

TECHNOLOGICAL FACTORS

8. Consumer Dynamics

OVERVIEW

Table 8.1: Attitudes Among Those Aged 50 and Over (% of respondents), 2008

CONCERN ABOUT HEALTH

I Worry a Lot About My Health

Table 8.2: I Worry a Lot About My Health (% of respondents), 2008

ATTITUDES TOWARDS APPEARANCE

I Take Pride in My Appearance

Table 8.3: I Take Pride in My Appearance (% of respondents), 2008

I Use Anti-Wrinkle Creams

Table 8.4: I Use Anti-Wrinkle Creams (% of female respondents), 2008

I Am Satisfied With the Range of Clothes Offered by High-Street Retailers to Those Aged 50 and Over

Table 8.5: I Am Satisfied With the Range of Clothes Offered by High-Street Retailers to Those Aged 50 and Over (% of respondents), 2008

FAMILY CIRCUMSTANCES

One or More of My Children Live With Me

Table 8.6: One or More of My Children Live With Me (% of respondents), 2008

I Regularly Spend Time Caring for Older Relatives

Table 8.7: I Regularly Spend Time Caring for Older Relatives (% of respondents), 2008

DOMESTIC CIRCUMSTANCES

I Pay Someone to Help With the Household Chores

Table 8.8: I Pay Someone to Help With the Household Chores (% of respondents), 2008

ATTITUDES TOWARDS HOLIDAYS

I Take More Holidays and Short Breaks Now Than I Did 10 Years Ago

Table 8.9: I Take More Holidays and Short Breaks Now Than I Did 10 Years Ago (% of respondents), 2008

I Have Been on a Holiday or Short Break Organised by a Company That Specialises in Travel for Those Aged 50+

Table 8.10: I Have Been on a Holiday or Short Break Organised by a Company That Specialises in Travel for Those Aged 50+ (% of respondents), 2008

QUALITY OF LIFE

I Am Happier With My Quality of Life Now Than I Was in My 20s and 30s

Table 8.11: I Am Happier With My Quality of Life Now Than I Was in My 20s and 30s (% of respondents), 2008

9. Company Profiles

AVIVA PLC (NORWICH UNION)

Structure and Product Information

Recent Developments

THE BRITISH UNITED PROVIDENT ASSOCIATION LTD

Structure and Product Information

Recent Developments

SAGA GROUP LTD

Structure and Product Information

Recent Developments

SCOTTISH WIDOWS PLC

Structure and Product Information

Recent Developments

SHEARINGS HOLIDAYS LTD

Structure and Product Information

Recent Developments

SIMPLYHEALTH GROUP LTD

Structure and Product Information

Recent Developments

10. The Future

DEMOGRAPHIC FORECASTS

Table 10.1: Projected UK Resident Population — Under-45s and Over-45s (000 and %), Mid-Years 2008, 2009, 2011 and 2013

Table 10.2: Projected UK Resident Population by Age (000), Mid-Years 2008-2013

11. Further Sources

Publications

General Sources

Government Sources

Other Sources

Key Note Sources