Marketing to Over 55s - December 2012

INTRODUCTION
Definitions
Provinces of China
EXECUTIVE SUMMARY
The uncertainties of growing old
Figure 1: Concerns for the future, October 2012
Security in home ownership
Figure 2: Current type of residence, October 2012
Financial planning for retirement
Figure 3: Financial planning for parents’ retirement, October 2012
Keeping healthy and active in retirement
Figure 4: Comparing life after retirement with life before, October 2012
Spending habits in retirement
Marketing to China’s seniors
Figure 5: Attitudes towards retirement, October 2012
What we think
THE UNCERTAINTIES OF GROWING OLD
Key issues
Who are China’s elderly?
Adults turning 80 in 2015
Adults turning 70 in 2015
Adults turning 60 in 2015
The tradition of filial piety
The elderly population is growing
Figure 6: Decline in birth rate and increase in gender imbalance over 20 years, 1992-2011
Figure 7: The population of the over-60s in China, 2000, 2005, 2010 and 2015
Financial security is a primary concern
Figure 8: Apartment ownership, by age and gender, October 2012
Figure 9: Home ownership status, by age, October 2012
Figure 10: Apartment ownership, by age and gender, October 2012
Figure 11: Monthly savings rate, by demographics, April 2012
Leaving the workforce
Figure 12: Planned age of retirement, October 2012
Figure 13: Planned age of retirement, by gender and age, October 2012
State pensions in China
Figure 14: China’s urban and rural population aged 60 and over, main source of support, November 2008
How many pensioners have little or no support?
Figure 15: Concerns for the future, October 2012
What it means
SECURITY OF HOME OWNERSHIP
Key issues
Property is the best form of investment
Figure 16: Current type of residence, October 2012
Who owns and who rents?
Figure 17: Current living situation of parent(s), October 2012
Figure 18: Current living situation, by demographics, October 2012
Figure 19: Current living situation, by demographics, October 2012
Downsizing of homes at retirement
Figure 20: Number of bedrooms in home, October 2012
High home ownership in retirement
Figure 21: Ownership status of current residence, October 2012
Crowded house – living with the extended family
Figure 22: Relationship of people living in the residence, October 2012
Choosing where to live after retirement
Figure 23: Expected living arrangements after retirement, October 2012
Figure 24: Current residence compared to pre-retirement, October 2012
What it means
FINANCIAL PLANNING FOR RETIREMENT
Key issues
Financial planning for retirees high on the agenda
Figure 25: Investment planning, October 2012
Younger adults start financial planning early
Figure 26: Investment planning, October 2012
Planning for parents’ retirement
Figure 27: Financial planning for parents’ retirement, October 2012
Health concerns dominate future planning by retirees
Figure 28: Concerns for the future, October 2012
Figure 29: Current financial situation, October 2012
Public health insurance cover remains inadequate
Financial planning of retirees focuses on health and savings
Figure 30: Retirement-related investments made, October 2012
What it means
KEEPING HEALTHY AND ACTIVE IN RETIREMENT
Key issues
Who pays for elderly parents’ medical expenses?
Figure 31: Who pays for parents’ medical expenses, October 2012
How much do retirees continue to rely on others for healthcare cover?
Figure 32: Who pays for retirees’ medical costs, October 2012
How do Chinese elderly stay active?
Figure 33: Activities in retirement, October 2012
Combating loneliness in retirement
Figure 34: Help given by parent(s) in care of child(ren), October 2012
Retirees taking more time to enjoy themselves
Figure 35: Activities taken up since retirement, October 2012
What adults hope to do when they retire
Figure 36: Expected activities after retirement, October 2012
What it means
SPENDING HABITS IN RETIREMENT
Key issues
Where do elderly Chinese shop?
Figure 37: Type of store visited for main weekly or top-up grocery shopping, October 2012
What foods do elderly Chinese buy?
Figure 38: Main type of food products purchased compared with before retirement, October 2012
What non-food products do elderly Chinese buy?
Figure 39: Main type of non-food products purchased compared with before retirement, October 2012
Discretionary spending by elderly Chinese
Figure 40: What extra money is spent on, October 2012
What it means
MARKETING TO CHINA’S SENIOR CITIZENS
Key issues
Getting on with retirement
Figure 41: Attitudes towards retirement, October 2012
Advertising needs to speak to elderly consumers
Figure 42: Attitudes towards retirement, by age group, October 2012
The leisure time of elderly Chinese
Figure 43: Leisure activities, by frequency, October 2012
Level of activity diminishes with age
The elderly Chinese seeking fun in the sun
Figure 44: Holiday travel undertaken in the past 12 months, October 2012
What products are aimed at elderly Chinese?
Shifting attitudes in advertising to China’s elderly
Changing perceptions about what it means to be elderly
Elderly Chinese online
What it means
APPENDIX – THE UNCERTAINTIES OF GROWING OLD
Figure 45: Reasons for retiring, October 2012
Figure 46: Most popular reasons for retiring, by demographics, October 2012
Figure 47: Next most popular reasons for retiring, by demographics, October 2012
Figure 48: Concerns for the future, October 2012
Figure 49: Most popular concerns for the future, by demographics, October 2012
Figure 50: Next most popular concerns for the future, by demographics, October 2012
APPENDIX – SECURITY OF HOME OWNERSHIP
Adults aged 20-49
Figure 51: Current living situation, October 2012
Figure 52: Current living situation, by demographics, October 2012
Figure 53: Number of bedrooms in home, October 2012
Figure 54: Number of bedrooms in home, by demographics, October 2012
Figure 55: Home ownership status of household, October 2012
Figure 56: Ownership status of household, by demographics, October 2012
Figure 57: Household composition, October 2012
Figure 58: Household composition, by demographics, October 2012
Figure 59: Retirement status of parents, October 2012
Figure 60: Retirement status of father, by demographics, October 2012
Figure 61: Retirement status of mother, by demographics, October 2012
Figure 62: Current living situation of parent(s), October 2012
Figure 63: Most popular current living situation of parent(s), by demographics, October 2012
Figure 64: Next most popular current living situation of parent(s), by demographics, October 2012
Retired adults
Figure 65: Current type of residence, October 2012
Figure 66: Most popular current type of residence, by demographics, October 2012
Figure 67: Size of current residence, by number of bedrooms, October 2012
Figure 68: Size of current residence by number of bedrooms, by demographics, October 2012
Figure 69: Ownership status of current residence, October 2012
Figure 70: Most popular ownership status of current residence, by demographics, October 2012
Figure 71: Next most popular ownership status of current residence, by demographics, October 2012
Figure 72: Relationship of people living in the residence, October 2012
Figure 73: Relationship of people living in the residence, by demographics, October 2012
Figure 74: Current residence compared to pre-retirement, by type of residence and location, October 2012
Figure 75: Current residence compared to pre-retirement, by type of home, by demographics, October 2012
Figure 76: Most popular current residence compared to pre-retirement, by location of home, by demographics, October 2012
APPENDIX – FINANCIAL PLANNING FOR RETIREMENT
Adults aged 20-49
Figure 77: Financial planning for parents’ retirements, October 2012
Figure 78: Financial planning for parents’ retirements, by demographics, October 2012
Figure 79: Help given by parent(s) in care of child(ren), October 2012
Figure 80: Most popular help given by parent(s) in care of child(ren), by demographics, October 2012
Figure 81: Next most popular help given by parent(s) in care of child(ren), by demographics, October 2012
Figure 82: Financial planning for parents’ healthcare, October 2012
Figure 83: Long-term life insurance for parents’ healthcare, by demographics, October 2012
Figure 84: Private health insurance for parents’ healthcare, by demographics, October 2012
Figure 85: Private critical illness insurance for parents’ healthcare, by demographics, October 2012
Figure 86: Private savings plan for parents’ healthcare, by demographics, October 2012
Figure 87: Other investment plan for parents’ healthcare, by demographics, October 2012
Figure 88: Planned retirement age, October 2012
Figure 89: Planned retirement age, by demographics, October 2012
Figure 90: Investment/planned investment for future security, October 2012
Figure 91: Invest/plan to invest for future security, by demographics, October 2012
Figure 92: Long-term life insurance for future security, by demographics, October 2012
Figure 93: Private health insurance for future security, by demographics, October 2012
Figure 94: Private critical illness insurance for future security, by demographics, October 2012
Figure 95: Private savings plan for future security, by demographics, October 2012
Figure 96: Other investment plan for future security, by demographics, October 2012
Figure 97: Ownership of investments as potential source of retirement funds, October 2012
Figure 98: Ownership of investments as potential source of retirement funds, by demographics, October 2012
Retired adults
Figure 99: Current financial situation, October 2012
Figure 100: Most popular current financial situation, by demographics, October 2012
Figure 101: Next most popular current financial situation, by demographics, October 2012
Figure 102: Retirement-related investments made, October 2012
Figure 103: Long-term life insurance investments made, by demographics, October 2012
Figure 104: Private health insurance investments made, by demographics, October 2012
Figure 105: Private critical illness insurance investments made, by demographics, October 2012
Figure 106: Private savings plan investments made, by demographics, October 2012
Figure 107: Other investment plan investments made, by demographics, October 2012
APPENDIX – KEEPING HEALTHY AND ACTIVE IN RETIREMENT
Adults aged 20-49
Figure 108: Who pays for parents’ medical expenses, October 2012
Figure 109: Who pays for parents’ prescription medicines, by demographics, October 2012
Figure 110: Who pays for parents’ hospital fees, by demographics, October 2012
Figure 111: Who pays for parents’ dental fees, by demographics, October 2012
Figure 112: Who pays for parents’ transport to and from doctors, hospital, treatments etc, by demographics, October 2012
Figure 113: Who pays for parents’ cost for traditional Chinese medicine, by demographics, October 2012
Figure 114: Who pays for parents’ therapy costs, by demographics, October 2012
Figure 115: Expected living arrangements after retirement, October 2012
Figure 116: Type of home living arrangements after retirement, by demographics, October 2012
Figure 117: Location of home living arrangements after retirement, by demographics, October 2012
Figure 118: Expected activities after retirement, October 2012
Figure 119: Most popular expected activities after retirement, by demographics, October 2012
Figure 120: Next most popular expected activities after retirement, by demographics, October 2012
Figure 121: Other expected activities after retirement, by demographics, October 2012
Retired adults
Figure 122: Who pays for medical costs, by type of fees, October 2012
Figure 123: Who pays for prescription medicines, by demographics, October 2012
Figure 124: Who pays for hospital fees, by demographics, October 2012
Figure 125: Who pays for dental fees, by demographics, October 2012
Figure 126: Who pays for transport to and from doctors, hospital, treatments etc, by demographics, October 2012
Figure 127: Who pays for traditional Chinese medicine, by demographics, October 2012
Figure 128: Who pays for therapy costs, by demographics, October 2012
Figure 129: Comparing life after retirement with life before, October 2012
Figure 130: Most popular comparing life after retirement with life before, by demographics, October 2012
Figure 131: Next most popular comparing life after retirement with life before, by demographics, October 2012
Figure 132: Other comparing life after retirement with life before, by demographics, October 2012
Figure 133: Activities taken up since retirement, October 2012
Figure 134: Most popular activities taken-up since retirement, by demographics, October 2012
Figure 135: Next most popular activities taken-up since retirement, by demographics, October 2012
Figure 136: Other activities taken-up since retirement, by demographics, October 2012
APPENDIX – SPENDING HABITS IN RETIREMENT
Figure 137: Main type of store visited for main weekly, or occasional top-up grocery shopping, October 2012
Figure 138: Most popular main type of store visited for main weekly grocery shopping, by demographics, October 2012
Figure 139: Most popular main type of store visited for top-up shopping, by demographics, October 2012
Figure 140: Next most popular main type of store visited for top-up shopping, by demographics, October 2012
Figure 141: Level of consumption of different products since retirement, October 2012
Figure 142: Level of consumption since retirement of fresh fruit and vegetables, by demographics, October 2012
Figure 143: Level of consumption since retirement of meat, by demographics, October 2012
Figure 144: Level of consumption since retirement of seafood, by demographics, October 2012
Figure 145: Level of consumption since retirement of dairy, by demographics, October 2012
Figure 146: Level of consumption since retirement of prepared/convenience foods, by demographics, October 2012
Figure 147: Level of consumption since retirement of baked foods, by demographics, October 2012
Figure 148: Level of consumption since retirement of snack foods, by demographics, October 2012
Figure 149: Level of consumption since retirement of confectionery, by demographics, October 2012
Figure 150: Level of consumption since retirement of soft drinks, by demographics, October 2012
Figure 151: Level of consumption since retirement of alcoholic drinks, by demographics, October 2012
Figure 152: Level of consumption since retirement of cosmetics, by demographics, October 2012
Figure 153: Level of consumption since retirement of toiletries, by demographics, October 2012
Figure 154: Level of consumption since retirement of household cleaning goods, by demographics, October 2012
Figure 155: Level of consumption since retirement of small electrical appliances, by demographics, October 2012
Figure 156: Level of consumption since retirement of large electrical appliances, by demographics, October 2012
Figure 157: Level of consumption since retirement of consumer electronics, by demographics, October 2012
Figure 158: Level of consumption since retirement of pharmaceuticals, by demographics, October 2012
Figure 159: Discretionary spending, by type of product or service, October 2012
Figure 160: Most popular discretionary spending, by type of product or service, by demographics, October 2012
Figure 161: Next most popular discretionary spending, by type of product or service, by demographics, October 2012
APPENDIX – MARKETING TO CHINA’S SENIOR CITIZENS
Figure 162: Holiday travel undertaken in the past 12 months, October 2012
Figure 163: Most popular holiday travel in Asia undertaken in the past 12 months, by demographics, October 2012
Figure 164: Frequency of spending leisure time, by type of leisure activity, October 2012
Figure 165: Frequency of eating out at a restaurant, by demographics, October 2012
Figure 166: Frequency of spending leisure time by going to the cinema, by demographics, October 2012
Figure 167: Frequency of spending leisure time by watching TV/DVD, by demographics, October 2012
Figure 168: Frequency of spending leisure time by visiting a cultural venue, by demographics, October 2012
Figure 169: Frequency of spending leisure time by attending live sports events, by demographics, October 2012
Figure 170: Frequency of spending leisure time by visiting a zoo/wildlife park, by demographics, October 2012
Figure 171: Frequency of spending leisure time by going to the theatre/musical/opera, by demographics, October 2012
Figure 172: Frequency of spending leisure time by playing games, by demographics, October 2012
Figure 173: Frequency of spending leisure time by doing DIY/home improvement, by demographics, October 2012
Figure 174: Frequency of spending leisure time by tending your own garden/allotment/grow own fruit and vegetables, by demographics, October 2012
Figure 175: Frequency of spending leisure time by using a public leisure centre, by demographics, October 2012
Figure 176: Frequency of spending leisure time by travelling, by demographics, October 2012
Figure 177: Frequency of spending leisure time by going shopping, by demographics, October 2012
Figure 178: Frequency of spending leisure time by visiting friends or relatives, by demographics, October 2012
Figure 179: Frequency of spending leisure time by study/learning new skills, by demographics, October 2012
Figure 180: Frequency of spending leisure time by doing recreational exercises, by demographics, October 2012
Figure 181: Frequency of spending leisure time by visiting a day centre, by demographics, October 2012
Figure 182: Attitudes towards retirement, October 2012
Figure 183: Most popular attitudes towards retirement, by demographics, October 2012
Figure 184: Next most popular attitudes towards retirement, by demographics, October 2012