Table of Contents
Executive Summary
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- Demographic analysis
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- Figure 1: Demographic profile of the over-55s, February 2012
- Future plans
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- Figure 2: Future plans, by retirement status, February 2012
- Financial comfort in retirement
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- Figure 3: Current financial situation, by retirement status, February 2012
- Techno phobia?
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- Figure 4: Technology usage, by age, February 2012
- Finances dictate shopping choices
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- Figure 5: Attitudes towards shopping, by current financial situation, February 2012
- Demand for age-appropriate products stifled by lack of choice
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- Figure 6: Attitudes towards advertising and shopping, by age, February 2012
Future Opportunities
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- Trend: Power of one
- Trend: Retired for hire
Market Trends
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- Key points
- Population trends
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- Figure 7: Trends in the structure of the UK population aged 55+, 2012 and 2017
- Lifestage
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- Figure 8: Lifestage of the over-55s, February 2012
- Age of retirement
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- Figure 9: Proportion of UK adults leaving the labour market, by gender and age, April to June 2011
- State pensions
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- Figure 10: Proportion of UK pensioners on different percentages of Basic State Pension, September 2010
- Household savings
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- Figure 11: Total household savings, by age of head of household, UK, 2006/08
Demographic Overview
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- Key points
- Demographic analysis
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- Figure 12: Demographic profile of the over-55s, February 2012
- Household income
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- Figure 13: Gross household income of the over-55s, February 2012
- Home owners less worried about finances
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- Figure 14: Home and car ownership, February 2012
- Car ownership high amongst the over-55s
- ACORN group
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- Figure 15: ACORN group, February 2012
Reasons for Retiring
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- Key points
- Reasons for retiring
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- Figure 16: Reasons for retirement, February 2012 and February 2011
- Men are more financially prepared for retirement
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- Figure 17: Biggest reasons for retirement, by gender, February 2012
Future Plans
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- Key points
- Couples make more plans
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- Figure 18: Future plans, by retirement status, February 2012
- Is an active lifestyle affordable?
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- Figure 19: Number of things over 55s are planning to do in the coming year, February 2012
- Activity drops off with age
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- Figure 20: Future plans, by age, February 2012
- Retirees are staying active
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- Figure 21: Future plans, by reasons for retirement, February 2012
- Staycations still popular
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- Figure 22: Holiday plans, by retirement status, February 2012
Current Financial Situation
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- Key points
- Peace of mind in retirement
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- Figure 23: Current financial situation, by retirement status, February 2012
- No time to think about savings
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- Figure 24: Breakdown of aggregate saving where head of household is aged 50-64, UK, 2006/08
- Over-55s spend extra income on their appearance
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- Figure 25: How extra money is spent, April 2012
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- Figure 26: Marks & Spencer Spring and Summer 2012 images from collections for women and men, April 2012
- Empty nest encourages higher spend
Technology Use and Internet Activities
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- Key points
- Barriers to technology adoption
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- Figure 27: Selected technology products owned, by age, February 2012
- Techno phobia?
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- Figure 28: Technology usage, by age, February 2012
- Over-55s cushion decline in newspaper readership
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- Figure 29: Internet usage and daily newspaper readership, February 2012
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- Figure 30: Daily newspaper readership, by age, February 2012
- Focus on practical activities online
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- Figure 31: Online activities, by age, February 2012
Changes in Spending Habits
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- Key points
- Homeward bound
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- Figure 32: Changing in spending habits, February 2012
- Tesco’s rivals catching up
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- Figure 33: Supermarkets used for main grocery shopping, February 2012
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- Figure 34: Supermarkets used for main grocery shopping, by household income, February 2012
Attitudes Towards Shopping
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- Key points
- Focus on the familiar
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- Figure 35: Attitudes towards shopping, by retirement status, February 2012
- Finances dictate shopping choices
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- Figure 36: Attitudes towards shopping, by current financial situation, February 2012
- More deals in urban centres
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- Figure 37: Attitudes towards shopping, by current financial situation, February 2012
- Demand for age-appropriate products stifled by lack of choice
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- Figure 38: Attitudes towards advertising and shopping, by age, February 2012
Over-55s Typologies
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- Key points
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- Figure 39: Consumer typologies, February 2012
- The Lean Means (40%) – 7.3 million adults aged 55+
- Who are they?
- The Prosperous Adventurers (35%) – 6.3 million adults aged 55+
- Who are they?
- The Family-Oriented (25%) – 4.5 million adults aged 55+
- Who are they?
Appendix – Reasons for Retiring
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- Figure 40: Reasons for retirement, by demographics, February 2012
- Figure 41: Reasons for retirement, by pensioner age, February 2012 and February 2011
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- Figure 42: Future plans, by reasons for retirement, February 2012
- Figure 43: Repertoire of future plans, by reasons for retirement, February 2012
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- Figure 44: Holidays, by reasons for retirement, February 2012
- Figure 45: Current financial situation, by reasons for retirement, February 2012
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- Figure 46: Attitudes towards shopping, by reasons for retirement, February 2012
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Appendix – Future Plans
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- Figure 47: Most popular future plans, by demographics, February 2012
- Figure 48: Next most popular future plans, by demographics, February 2012
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- Figure 49: Repertoire of future plans, February 2012
- Figure 50: Reasons for retirement, by repertoire of future plans, February 2012
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- Figure 51: Holidays plans, by repertoire of future plans, February 2012
- Figure 52: Current financial situation, by repertoire of future plans, February 2012
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- Figure 53: Attitudes towards shopping, by repertoire of future plans, February 2012
- Figure 54: Most popular holidays, by demographics, February 2012
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- Figure 55: Next most popular holidays, by demographics, February 2012
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Appendix – Current Financial Situation
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- Figure 56: Current financial situation, by demographics, February 2012
- Figure 57: Reasons for retirement, by current financial situation, February 2012
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- Figure 58: Future plans, by current financial situation, February 2012
- Figure 59: Repertoire of future plans, by current financial situation, February 2012
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- Figure 60: Holidays, by current financial situation, February 2012
- Figure 61: Changes in spending, by current financial situation, February 2012
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- Figure 62: Attitudes towards shopping, by current financial situation, February 2012
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Appendix – Changes in Spending Habits
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- Figure 63: Changes in spending, February 2012
- Figure 64: Spending on home food, by demographics, February 2012
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- Figure 65: Spending on eating out and takeaways, by demographics, February 2012
- Figure 66: spending on alcoholic drinks, by demographics, February 2012
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- Figure 67: Spending on personal care and healthcare products, by demographics, February 2012
- Figure 68: Spending on clothing and accessories, by demographics, February 2012
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- Figure 69: Spending on electronic equipment, by demographics, February 2012
- Figure 70: Spending on mobile phone, by demographics, February 2012
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- Figure 71: Spending on entertainment/leisure, by demographics, February 2012
- Figure 72: Spending on home and garden, by demographics, February 2012
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- Figure 73: Spending on transport, by demographics, February 2012
- Figure 74: Spending on housing, by demographics, February 2012
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- Figure 75: Spending on holidays, by demographics, February 2012
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Appendix – Attitudes Towards Shopping
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- Figure 76: Most popular attitudes towards shopping, by demographics, February 2012
- Figure 77: Next most popular attitudes towards shopping, by demographics, February 2012
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Appendix – Over-55s Typologies
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- Figure 78: Demographics, by target groups, February 2012
- Figure 79: Reasons for retirement, by target groups, February 2012
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- Figure 80: Future plans, by target groups, February 2012
- Figure 81: Holidays, by target groups, February 2012
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- Figure 82: Current financial situation, by target groups, February 2012
- Figure 83: Changes in spending, by target groups, February 2012
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- Figure 84: Attitudes towards shopping, by target groups, February 2012
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