Table of Contents
Introduction
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- Definition
- Abbreviations
Executive Summary
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- The market
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- Figure 1: Best and worst case forecast value sales of clothing and footwear to over-55s, 2006-16
- Market factors
- Ageing population
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- Figure 2: Trends in the age structure of the UK population, 2006-16
- Britons are retiring later
- Over-55s reap financial rewards
- Engagement in fashion declines with age
- Waistlines expand with age
- The consumer
- Over-55s are seasonal shoppers
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- Figure 3: Frequency of buying clothes, February 2011
- Fashion styles and preferences mature with age
- Quality is a major selling point
- Replacement is the main driver of sales
- Over-55s are neglected by the fashion market
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- Figure 4: Attitudes towards buying clothes, by age group, February 2011
- Age reflects in shopping behaviour
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- Figure 5: Outlets where clothing has been purchased in the last 12 months, August 2011
- Marks & Spencer excels on quality
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- Figure 6: Reasons why over-55 consumers shop for clothes at Marks & Spencer, August 2011
- Value and convenience attract shoppers to supermarkets
- Low cost clothing is a double-edged sword
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- Figure 7: Top 15 least preferred outlets to purchase clothes at stores, by age group, August 2011
- Limited appeal of mid-market fashion outlets
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- Figure 8: Reasons why consumers do not shop for clothes at River Island and Topshop/Topman, August 2011
- What we think
Issues in the Market
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- How do over-55s feel about the clothes shopping experience?
- How can retailers encourage higher levels of expenditure from older consumers?
- What do over-55s look for when choosing new garments?
- Has there been any improvement to the fashion offering to older consumers?
- Is the way that over-55s dress changing?
- Where do over-55s like to shop and why?
Future Opportunities
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- Trend: Agelessness
- Trend: Extend my brand
Internal Market Environment
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- Key points
- Comfort and looking well-dressed are the top priorities
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- Figure 9: Trends in attitudes towards personal appearance among over-55s, 2011
- Enjoyment and spending declines with age
- Being fit and active is the main aim
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- Figure 10: Statements on personal care, by age groups, 2011
- Personal appearance is important
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- Figure 11: Statements on personal appearance, by age group, 2011
- Age influences clothes size
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- Figure 12: UK clothing sizes bought by women, by age, April 2011
- Four in ten over-55 men are plus-size
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- Figure 13: UK clothing sizes bought by men, by age, April 2011
- Over-55s becoming more technology- and internet-savvy
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- Figure 14: Frequency of making a purchase online, by demographics, 2010
Broader Market Environment
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- Key points
- Shifting age structure
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- Figure 15: Trends in the age structure of the UK population, 2006-11 and 2011-16
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- Figure 16: Trends in the over-55 age structure of the UK population, 2006-20
- Life expectancy climbs
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- Figure 17: Life expectancy of 55-year-olds, 2004-15
- Retirement age edges up
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- Figure 18: working status, by age and gender, 2011
- ABs to boost clothing sales
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- Figure 19: Forecast growth of the UK population, by socio-economic group, 2006-11 and 2011-16
- Tough trading conditions but light at the end of the tunnel
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- Figure 20: GDP, PDI, consumer expenditure and savings, at constant 2011 prices, 2006-16
- Turbulence in the eurozone and the UK economic recovery stagnates
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- Figure 21: Trends in GDP quarterly percentage change, Q1 2004-Q2 2011
- Consumer confidence remains in deep negative territory
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- Figure 22: Trends in consumer confidence, January 2008-September 2011
- Clothing inflation accelerates
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- Figure 23: Inflation in clothing and footwear, January 2006-August 2011
Strengths and Weaknesses in the Market
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- Strengths
- Weaknesses
Who’s Innovating?
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- Key points
- Retailers target the more mature shopper
- Shift towards older models
- Media aimed at older consumers
Competitive Context
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- Key points
- Solid growth of 10% between 2006 and 2011
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- Figure 24: Value sales of over-55 clothing and footwear, compared with all clothing and footwear, at current prices, 2006-11
Market Size and Forecast
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- Key points
- Value of over-55 clothing and footwear market reaches £5.7 million
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- Figure 25: Over-55s’ estimated expenditure on clothing and footwear, 2006-11
- The future
- Impressive growth of the over-55 fashion market
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- Figure 26: Best and worst case forecast value sales of over-55 clothing and footwear, 2006-16
- Factors used in the forecast
Retail Competitor Analysis
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- Key points
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- Figure 27: Leading clothing retailers, 2009/10
- Figure 28: Leading department stores, 2009/10
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- Figure 29: Specialist plus, tall and petite clothing retailers and selected mail order operators, 2009/10
Companies and Products
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- N Brown
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- Figure 30: Key financials for N Brown PLC, 2010-11
- CC
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- Figure 31: Key financials for Country Casuals Limited, 2009-10
- Bonmarché
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- Figure 32: Key financials of Bonmarché, 2009-10
- Cotton Traders
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- Figure 33: Key financials of Cotton Traders Limited, 2009-10
- House of Fraser
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- Figure 34: Key financials of House of Fraser, 2010-11
- Evans
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- Figure 35: Key financials of Arcadia Group Brands Limited, 2009-10
- Debenhams
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- Figure 36: Key financials of Debenhams PLC, 2009-10
- Marks & Spencer
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- Figure 37: Key Financials for M&S, 2010-11
- John Lewis
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- Figure 38: Key financials for John Lewis, 2010-11
The Consumer – Over-55s Clothes Buying Behaviour
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- Key points
- Making clothing last
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- Figure 39: Statements on clothing, by age groups, 2011
- Practical, personal and elegant
- Minimal demand for young styles
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- Figure 40: Over-55s’ statements on clothing, by gender, 2011
- The rising popularity of jeans
- Disinterest in designer clothing
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- Figure 41: Trends in statements on clothing among over-55s, 2006-11
The Consumer –Clothes Bought by Over-55s
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- Key points
- Over-55s are more reluctant shoppers
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- Figure 42: Purchasing of outwear in the last 12 months, by age and gender, 2011
- Casual attire shows the greatest age divide
- Marginal rise in menswear and womenswear purchases
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- Figure 43: Trends in purchasing outerwear in the last 12 months among over-55s, 2008-11
- Tops are the main buys for women whilst men prefer the basics
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- Figure 44: Purchasing of womenswear, by female over-55s in the last 12 months, 2011
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- Figure 45: Purchasing of menswear, by male over-55s in the last 12 months, 2011
The Consumer – How Often Over-55s Buy Clothes
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- Key points
- Over-55s are seasonal shoppers
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- Figure 46: Women’s frequency of buying clothes, by age group, February 2011
- Three in ten men rarely buy clothes
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- Figure 47: Men’s frequency of buying clothes, by age group, February 2011
The Consumer – Over-55s’ Attitudes Towards Clothing Styles Worn
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- Key points
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- Figure 48: Attitudes towards clothing styles worn, by age group, February 2011
- Women’s fashion styles mature with age
- Age influences men’s fashion choices
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- Figure 49: Attitudes towards clothing worn, February 2011
The Consumer – Over-55s’ Attitudes Towards Shopping for Clothes
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- Key points
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- Figure 50: Attitudes towards buying clothes, by age group, February 2011
- Ageism in advertising?
- Older consumers feel overlooked by fashion retailers
- Enjoyment in shopping declines with age
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- Figure 51: Attitudes towards buying clothes, by age group, February 2011
- Over-55 men mainly buy for replacement
- Over-55 women struggle with their size
- More over-55s are opting for quality over quantity
- Store loyalty is lower among over-55s
The Consumer – Where Over-55s Buy Clothes
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- Key points
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- Figure 52: Outlets where clothing has been purchased in the last 12 months, August 2011
- M&S is the top choice for over-55s
- Asda versus Tesco
- Matalan is the most popular value retailer
- A quarter shop at Debenhams
- Mid-market fashion retailers hold minimal appeal
The Consumer – Reasons Why Over-55s are Attracted to Certain Stores
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- Key points
- M&S triumphs on quality
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- Figure 53: Reasons why over-55 consumers shop for clothes at M&S, August 2011
- Value and convenience attract shoppers to supermarkets
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- Figure 54: Reasons why over-55 consumers shop for clothes at Asda and Tesco, August 2011
- Matalan and Primark provide value and choice
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- Figure 55: Reasons why over-55 consumers shop for clothes at Matalan and Primark, August 2011
- Debenhams’ wide selection of clothing draws in over-55s
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- Figure 56: Reasons why over-55 consumers shop for clothes at Debenhams, August 2011
- Shopping environment and staff
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- Figure 57: Over-55s who shop at certain stores because the shopping environment is pleasant and because the staff are friendly and helpful
The Consumer – Where Over-55s Prefer Not to Buy Clothes
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- Key points
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- Figure 58: Top 15 least preferred outlets to purchase clothes from, by age group, August 2011
- Primark falls down on quality
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- Figure 59: Reasons why consumers do not shop for clothes at Primark, August 2011
- TK Maxx can enhance its in-store environment
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- Figure 60: Reasons why consumers do not shop for clothes at TK Maxx, August 2011
- Quality is the main issue at Matalan and Peacocks
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- Figure 61: Reasons why consumers do not shop at Matalan and Peacocks, August 2011
- Quality deters from Tesco clothing
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- Figure 62: Reasons why consumers do not shop at Tesco, August 2011
- Youth-orientated mid-market fashion outlets overlook over-55s
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- Figure 63: Reasons why consumers do not shop at River Island and Topshop/Topman, August 2011
- Department stores over-priced?
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- Figure 64: Reasons why consumers do not shop at House of Fraser and John Lewis, August 2011
- Comparison of quality
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- Figure 65: Over-55 consumers who do not shop at certain retailers because the quality is not high enough
Appendix – Internal Market Environment
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- Figure 66: Trends in statements on personal care among over-55s, 2004-11
- Figure 67: Trends in statements on personal appearance among over-55s, 2004-11
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- Figure 68: Statements on personal appearance among over-55s, by demographics, 2011
- Figure 69: Statements on personal appearance among over-55s, by demographics, 2011
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- Figure 70: Statements on personal appearance among over-55s, by demographics, 2011
- Figure 71: Statements on personal care among over-55s, by demographics, 2011
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Appendix – The Consumer – Clothes Buying Behaviour
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- Figure 72: Trends in statements on clothing among over-55s, 2004-11
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Appendix – The Consumer – What Clothes are Bought?
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- Figure 73: Trends in purchasing outerwear in the last 12 months among over-55s, 2008-11
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- Figure 74: Purchasing of outwear in the last 12 months, by age and gender, 2011
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Appendix – The Consumer – Where Over-55s Buy Clothes
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- Figure 75: Outlets where clothing has been purchased in the last 12 months, August 2011
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- Figure 76: Main outlets where clothing is purchased, August 2011
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- Figure 77: Most popular outlets where clothing has been purchased in the last 12 months, by demographics, August 2011
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- Figure 78: Next most popular outlets where clothing has been purchased in the last 12 months, by demographics, August 2011
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- Figure 79: Other outlets where clothing has been purchased in the last 12 months, by demographics, August 2011
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- Figure 80: Outlets where clothing has been purchased in the last 12 months, by demographics, August 2011
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- Figure 81: Most popular main outlets where clothing is purchased, by demographics, August 2011
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- Figure 82: Next most popular main outlets where clothing is purchased, by demographics, August 2011
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Appendix – The Consumer – Reasons Why Over-55s are Attracted to Certain Stores
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- Figure 83: Reasons why consumers shop for clothes at Marks & Spencer, by demographics, August 2011
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- Figure 84: Reasons why consumers shop for clothes at Marks & Spencer, by demographics, August 2011
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- Figure 85: Reasons why consumers shop for clothes at Primark, by demographics, August 2011
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- Figure 86: Reasons why consumers shop for clothes at Next, by demographics, August 2011
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- Figure 87: Reasons why consumers shop for clothes at Asda, by demographics, August 2011
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- Figure 88: Reasons why consumers shop for clothes at Tesco, by demographics, August 2011
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- Figure 89: Reasons why consumers shop for clothes at Debenhams, by demographics, August 2011
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- Figure 90: Reasons why consumers shop for clothes at Matalan, by demographics, August 2011
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- Figure 91: Reasons why consumers shop for clothes at New Look, by demographics, August 2011
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- Figure 92: Reasons why consumers shop for clothes at H&M, by demographics, August 2011
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- Figure 93: Reasons why consumers shop for clothes at TK Maxx, by demographics, August 2011
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Appendix – The Consumer – Where Over-55s Prefer Not to Buy Clothes
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- Figure 94: Least preferred outlets to purchase clothes at, by demographics, August 2011
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- Figure 95: Further non-preferred outlets to purchase clothes at, by demographics, August 2011
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- Figure 96: Other least preferred outlets to purchase clothes at, by demographics, August 2011
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- Figure 97: Least popular least preferred outlets to purchase clothes at, by demographics, August 2011
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- Figure 98: Other non-preferred outlets to purchase clothes at, by demographics, August 2011
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- Figure 99: Other non-preferred outlets to purchase clothes at stores, by demographics, August 2011
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- Figure 100: Reasons why consumers do not shop for clothes at Evans, by demographics, August 2011
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- Figure 101: Reasons why consumers do not shop for clothes at Primark, by demographics, August 2011
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- Figure 102: Reasons why consumers do not shop for clothes at TK Maxx, by demographics, August 2011
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- Figure 103: Reasons why consumers do not shop for clothes at Dorothy Perkins, by demographics, August 2011
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- Figure 104: Reasons why consumers do not shop for clothes at CC (formerly Country Casuals), by demographics, August 2011
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- Figure 105: Reasons why consumers do not shop for clothes at House of Fraser, by demographics, August 2011
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- Figure 106: Reasons why consumers do not shop for clothes at Peacocks, by demographics, August 2011
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- Figure 107: Reasons why consumers do not shop for clothes at Matalan, by demographics, August 2011
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- Figure 108: Reasons why consumers do not shop for clothes at John Lewis, by demographics, August 2011
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- Figure 109: Reasons why consumers do not shop for clothes at River Island, by demographics, August 2011
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- Figure 110: Reasons why consumers do not shop for clothes at Topshop/Topman, by demographics, August 2011
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- Figure 111: Reasons why consumers do not shop for clothes at Tesco, by demographics, August 2011
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- Figure 112: Reasons why consumers do not shop for clothes at Wallis, by demographics, August 2011
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- Figure 113: Reasons why consumers do not shop for clothes at Asda, by demographics, August 2011
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