Table of Contents
Scope and Themes
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- What you need to know
- Definition
- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
Executive Summary
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- Senior snapshot
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- Figure 1: Total US population by age groups, 2013 versus 2018
- Senior spending
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- Figure 2: Median household income, by average and seniors, 2012; median net worth of households, by under-35s and seniors, 2011
- The senior consumer
- Top plans for the next year include family time, a focus on health, and vacation
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- Figure 3: Seniors' top five plans for the next 12 months, October 2013
- Most seniors do not follow a budget, are cautious with finances; four in 10 feel secure
- Seniors’ purchase decisions driven by a variety of factors
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- Figure 4: Online seniors' top purchase considerations (“very important”), October 2013
- Seniors shop at preferred stores
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- Figure 5: Seniors’ select attitudes toward shopping, by age, May 2012-June 2013
- Independence, health, and family are seniors’ top concerns
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- Figure 6: Seniors' top five concerns for the future, October 2013
- Half of seniors use the internet at home; impact on use of traditional media
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- Figure 7: Impact of internet use on other media use, all versus seniors, May 2012-June 2013
- What we think
Issues and Insights
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- How powerful is senior spending and what are they buying?
- The issues:
- The implications:
- What is the impact of the internet and social media?
- The issues:
- The implications:
- What are the top concerns and key issues that seniors face today?
- The issues:
- The implications:
Trend Application
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- Inspire Trend: No Resting Place
- Inspire Trend: Immaterial World
Seniors by the Numbers
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- Key points
- One in seven Americans is a senior in 2013
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- Figure 8: Total US population, share by age, 2013
- More than one in five adults will be aged 65+ by 2018
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- Figure 9: Total US population by age, 2008-18
Demographic Characteristics of Seniors
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- Key points
- Senior women outnumber men, men’s life expectancy on the rise
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- Figure 10: US population, share and ratio of male/female by age group, 2013
- Most seniors aged 65-84 are married
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- Figure 11: Marital status, all versus seniors by age group, 2012
- Fewer than three in 10 seniors live alone
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- Figure 12: Family status and household relationship of seniors aged 65+, 2012
- Multigenerational living likely to increase among seniors
- Vast majority of seniors are White, diversity set to increase
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- Figure 13: Race/Hispanic composition of seniors, 2008, 2013, 2018
- About eight in 10 seniors are homeowners
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- Figure 14: Homeownership and mortgage holding, by age of reference person, all versus seniors by age group, 2011
- Where seniors live
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- Figure 15: Share of population aged 65+ by county, 2010
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- Figure 16: Change in population aged 65+ by county, 2000 versus 2010
- Six in 10 seniors have a high school diploma or less
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- Figure 17: Educational attainment, people aged 25 or older versus seniors by age group, 2012
Seniors’ Net Worth, Income, and Spending
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- Key points
- Median household income figures belie seniors’ net worth
- Half of seniors rely on social security for income
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- Figure 18: Median household income, by age of householder, 2012
- Seniors’ net worth far exceeds that of under-35s
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- Figure 19: Median net worth of households based on age of head of household, 2011
- About one in 10 seniors are impoverished – less than the general population
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- Figure 20: Household income distribution <$50K, by age of householder, 2012
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- Figure 21: Household income distribution $50K+, by age of householder, 2012
- Seniors’ household expenditures are about 80% compared to average
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- Figure 22: Top consumer spending categories’ share of annual expenditures, by age, 2011
- But, seniors’ annual expenditures exceed median household incomes
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- Figure 23: Median household income (2012) and average annual expenditures (2011), by age of householder
Innovations and Innovators
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- Vodka brand targets retirement communities with “Sobieski Silver”
- Services for seniors
- Silver spas
- Mather’s – More Than a Café keeps seniors connected
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- Figure 24: Mather’s – More Than a Café, 2013
- Innovative senior-living products rooted in technology
- Universal home design allows for aging in place
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- Figure 25: Interest in special home features, 2012 versus 2103
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- Figure 26: Interest in special function rooms, 2012 versus 2103
Marketing Strategies
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- Overview
- Messaging should portray seniors’ “feel age” – not “real age”
- You’re only as old as you feel …
- … but seniors aren’t just “old teens”
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- Figure 27: Taco Bell “We are young,” Super Bowl commercial, 2013
- Best practices for marketing to seniors
- Text elements
- Design elements
- Language elements
- Content elements
- Targeting
- Marketing channels: traditional and online
- Ge•ron•to•pho•bia (noun): a fear of old people; a fear of old age
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- Figure 28: Quaker Oats logo change, March 2012
- Figure 29: Betty Crocker portraits through the years, 1936-96
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- Figure 30: Cover images, What to Expect When You’re Expecting, 1988, 2002, 2008
- “Aging up” to depict challenges and solutions for the oldest seniors can be effective
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- Figure 31: Swiffer Dusters, “Morty, are you listening?” TV ad, July 2013
- Underlying messaging strategies
- Build trust
- Demonstrate an understanding of their values
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- Figure 32: Walmart, “Grandpa visit,” TV commercial, October 2013
- Don’t forget the packaging
- Color scheme and information overload
- Pack design
Living Situation and Financial Support
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- Key points
- Most seniors live with a spouse or partner, or alone
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- Figure 33: Who seniors live with, October 2013
- Younger senior men least likely to live alone
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- Figure 34: Who seniors live with, by gender and age, October 2013
- Partnered seniors have higher household incomes
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- Figure 35: Who seniors live with, by household income, October 2013
- Seniors more likely to provide than to receive financial support
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- Figure 36: Seniors providing/receiving financial support, October 2013
- More seniors have difficulty saying no to their kids
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- Figure 37: Seniors’ agreement that it is difficult to say no to their kids, by age, May 2012-June 2013
- Family is important to seniors
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- Figure 38: Seniors’ attitudes toward family time, by age, May 2012-June 2013
Plans and Life Events
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- Key points
- Family time and personal health top list of plans for the next 12 months
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- Figure 39: Seniors' plans for the next 12 months, October 2013
- Nine in 10 seniors plan to spend time with family over the next year
- Taking better care of personal health and exercise is a goal
- Half plan to travel, more than three in 10 plan to help take care of grandchildren
- Fewer than one in 10 plans to move to a different residence
- Demographic differences impact plans for the upcoming year
- Life events of the past 12 months
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- Figure 40: Seniors’ select life events of the past 12 months indexed to the average, by age, May 2012-June 2013
Budgeting, Attitudes toward Personal Finances
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- Key points
- Most seniors do not follow a budget
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- Figure 41: Seniors’ budgeting habits, October 2013
- Older seniors (aged 75+) are far less likely to follow a budget
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- Figure 42: Seniors’ budgeting habits, by gender and by age, October 2013
- Seniors more likely than the average to feel financially secure
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- Figure 43: Feels financially secure, by age, May 2012-June 2013
- Seniors are careful with their cash
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- Figure 44: Seniors’ select attitudes toward money and finances, by age, May 2012-June 2013
Purchase Considerations, Attitudes toward Shopping
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- Key points
- Seniors indicate a variety of factors impact their purchase decisions
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- Figure 45: Online seniors' purchase considerations, October 2013
- Product selection more important to younger seniors, service to older
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- Figure 46: Seniors’ select attitudes toward shopping, by age, May 2012-June 2013
- Seniors are sensitive to patronizing employees
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- Figure 47: Online seniors’ sensitivity to treatment by customer service representatives, by gender, age, household income, and survey method, October 2013
Concerns for the Future
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- Key points
- Three quarters of seniors concerned with independent living
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- Figure 48: Seniors' top concerns for the future, October 2013
- Opportunities in technology
- Healthcare and companionship
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- Figure 49: Comfort Keepers In-Home Care TV ad, 2013
- Construction
- Retail
- Family – children and grandchildren – are also top concerns
- More than four in 10 seniors are concerned with Alzheimer’s
- Demographic differences impact top concerns for the future
Technology, the Internet, and Social Media
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- Key points
- Half of seniors use the internet at home for activities other than email
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- Figure 50: Used the internet at home and work for something other than email in the last seven days, total versus seniors by age, May 2012-June 2013
- More than half of online seniors use internet for finance, games, and travel planning
- In memory of …
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- Figure 51: Online seniors’ use and interest in technology, October 2013
- About one in five seniors visit social networking sites
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- Figure 52: Visits or belongs to any social media/networking websites, total versus seniors by age, May 2012-June 2013
- Half of social media-using seniors visit these sites at least once a day
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- Figure 53: Frequency of visiting social media/networking websites, total versus seniors by age, May 2012-June 2013
Print Media Reading
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- Key points
- Seniors’ use of print media less impacted by internet use
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- Figure 54: Impact of internet use on other media use, total versus seniors by age, May 2012-June 2013
- Seniors enjoy newspapers and magazines
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- Figure 55: Attitudes and use of newspapers, total versus seniors by age, May 2012-June 2013
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- Figure 56: Attitudes and use of magazines, total versus seniors by age, May 2012-June 2013
- One in five seniors subscribe to a magazine specifically for seniors
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- Figure 57: Seniors who subscribe to senior magazines, by gender, age, household income, and survey method, October 2013
- Most popular magazines are carried by newspapers
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- Figure 58: Top 10 magazines read or looked at in the last six months and top 10 index, all versus seniors by age, May 2012-June 2013
Attitudes toward Advertising
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- Key points
- Seniors more negative than the average toward advertising in general
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- Figure 59: Attitudes toward advertising in general, and impact on shopping, total versus seniors by age, May 2012-June 2013
- Four in 10 seniors “annoyed” by TV ads; three in 10 mute commercials
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- Figure 60: Attitudes toward TV advertising and commercials, total versus seniors by age, May 2012-June 2013
- Seniors don’t want to be singled out in advertising based only on age
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- Figure 61: Seniors’ sensitivity to advertisements, by gender, age, household income, and survey method, October 2013
Diet and Health
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- Key points
- Seniors more likely to be watching their diet
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- Figure 62: Presently watching diet and reads product labels, all versus seniors by age, May 2012-June 2013
- Seniors focus on fiber, freshness and overall nutrition in foods
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- Figure 63: Attitudes and opinions about food, all versus seniors by age, May 2012-June 2013
- Breakfast is the most important meal of the day
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- Figure 64: Most important meal of the day, all versus seniors by age, May 2012-June 2013
- Half of seniors use health-monitoring devices
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- Figure 65: Use of health-monitoring devices in the last 30 days, all versus seniors by age, May 2012-June 2013
- Seniors more trusting – and more reliant on – doctor’s orders
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- Figure 66: Attitudes and opinions about food, all versus seniors by age, May 2012-June 2013
Leisure Time and Activities
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- Key points
- Seniors spend more than seven hours per day devoted to leisure
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- Figure 67: Average hours per day spent in primary activities, all versus seniors by age, 2012
- About one third of a senior’s day is devoted to leisure
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- Figure 68: Seniors’ share of time spent in primary activities, by age group, 2012
- Seniors spend about four hours per weekday watching TV
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- Figure 69: Average daily hours per day spent in leisure and sports activities, all versus seniors by age group, 2012
- Seniors more likely to engage in solo leisure activities
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- Figure 70: Past 12 month participation in leisure hobbies/activities, all versus seniors by age, May 2012-June 2013
Custom Segments – Pre-, Mid-, and Older Seniors
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- Key points
- Fewer than one quarter of pre-seniors (aged 50-64) surveyed live alone
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- Figure 71: Who seniors aged 50+ live with, by age group, October 2013
- Nearly six in 10 pre-seniors are providing financial support to householders
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- Figure 72: Online adults aged 50+ providing/receiving financial support, by age group, October 2013
- Pre-seniors are full of plans for the next 12 months
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- Figure 73: Online adults aged 50+ plans for the next 12 months, by age group, October 2013
- Purchase considerations are generally similar for pre- and mid-seniors
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- Figure 74: Online adults aged 50+ purchase considerations, by age group, October 2013
- In general, pre-seniors’ concerns are similar to seniors
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- Figure 75: Online adults aged 50+ top concerns for the future, by age group, October 2013
- Pre-senior women have the most concerns
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- Figure 76: Online adults aged 50+ top concerns for the future, by gender and age group, October 2013
- Pre-seniors conducting business online, fewer playing games
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- Figure 77: Online adults aged 50+ use and interest in technology, by age group, October 2013
Appendix – Other Useful Tables
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- Seniors by the numbers
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- Figure 78: Total US population by age, 2008-18
- Figure 79: Household income distribution, by age of householder, 2012
- Demographic characteristics of seniors
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- Figure 80: US population, share and ratio of male/female by age group, 2013
- Figure 81: Marital status, by age, 2012
- Figure 82: Family status and household relationship of people, all versus seniors by age group 2012
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- Figure 83: Educational attainment of people aged 25 or older, by age, 2012
- Seniors’ net worth, income, and spending
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- Figure 84: Median household income, by age of householder, 2012
- Figure 85: Household income distribution, by age of householder, 2012
- Figure 86: Share of average annual expenditures, by age of reference person, 2011
- Figure 87: Average annual expenditures, by age of reference person, 2011
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- Figure 88: Median household income (2012) and average annual expenditures (2011), by age of householder
Appendix – Other Useful Consumer Tables
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- Living situation and financial support
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- Figure 89: Who seniors live with, by gender and by age, October 2013
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- Figure 90: Who seniors live with, by gender and age, October 2013
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- Figure 91: Who seniors live with, by household income, October 2013
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- Figure 92: Who seniors live with, by online and offline survey sample, October 2013
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- Figure 93: Who seniors live with (online), by marital status, October 2013
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- Figure 94: Who seniors live with (online), by employment status, October 2013
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- Figure 95: Who seniors aged 50+ live with (online), by age group, October 2013
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- Figure 96: Attitudes toward family time and relationship with kids, all versus 55+ by age group, May 2012-June 2013
- Plans and life events
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- Figure 97: Seniors' plans for the next 12 months, by gender and by age, October 2013
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- Figure 98: Seniors' plans for the next 12 months, by gender and age, October 2013
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- Figure 99: Seniors' plans for the next 12 months, by household income, October 2013
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- Figure 100: Seniors' plans for the next 12 months, by online and offline survey sample, October 2013
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- Figure 101: Online seniors' plans for the next 12 months, by marital status, October 2013
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- Figure 102: Online seniors' plans for the next 12 months, by employment status, October 2013
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- Figure 103: Online adults aged 50+ plans for the next 12 months, by age group, October 2013
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- Figure 104: Life events of the past 12 months, by all and aged 55+, May 2012-June 2013
- Budgeting, attitudes toward personal finances
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- Figure 105: Attitudes toward money and finances, all versus aged 55+ by age group, May 2012-June 2013
- Purchase considerations, attitudes toward shopping
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- Figure 106: Attitudes toward shopping, all versus aged 55+ by age group, May 2012-June 2013
- Purchase considerations, attitudes toward shopping
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- Figure 107: Online seniors’ purchase considerations, by gender and by age, October 2013
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- Figure 108: Online seniors’ purchase considerations, by gender and age, October 2013
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- Figure 109: Online seniors’ purchase considerations, by household income, October 2013
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- Figure 110: Online seniors’ purchase considerations, by marital status, October 2013
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- Figure 111: Online seniors’ purchase considerations, by gender and age, October 2013
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- Figure 112: Online adults aged 50+ purchase considerations, by age group, October 2013
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- Figure 113: Online adults aged 50+ purchase considerations, by gender and age group, October 2013
- Concerns for the future
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- Figure 114: Seniors’ top concerns for the future, by gender and by age, October 2013
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- Figure 115: Seniors’ top concerns for the future, by gender and age, October 2013
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- Figure 116: Seniors’ top concerns for the future, by household income, October 2013
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- Figure 117: Seniors’ top concerns for the future, by online and offline survey sample, October 2013
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- Figure 118: Online seniors’ top concerns for the future, by marital status, October 2013
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- Figure 119: Online seniors’ top concerns for the future, by employment status, October 2013
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- Figure 120: Online adults aged 50+ top concerns for the future, by age group, October 2013
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- Figure 121: Online adults aged 50+ top concerns for the future, by gender and age group, October 2013
- Technology, the internet, and social media
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- Figure 122: Online seniors’ use and interest in technology, by gender and by age, October 2013
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- Figure 123: Online seniors’ use and interest in technology, by gender and age, October 2013
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- Figure 124: Online seniors’ use and interest in technology, by household income, October 2013
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- Figure 125: Online seniors’ use and interest in technology, by gender and age, October 2013
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- Figure 126: Online seniors’ use and interest in technology, by employment status, October 2013
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- Figure 127: Online adults aged 50+ use and interest in technology, by age group, October 2013
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- Figure 128: Online adults aged 55+ use and interest in technology, by gender and age group, October 2013
- Print media reading
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- Figure 129: Impact of internet use on other media use, all versus aged 55+ by age group, May 2012-June 2013
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- Figure 130: Attitudes and use of newspapers and magazines, all versus aged 55+ by age group, May 2012-June 2013
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- Figure 131: Magazines read or looked at in the last six months (part I), all versus seniors by age, May 2012-June 2013
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- Figure 132: Magazines read or looked at in the last six months (part II), all versus seniors by age, May 2012-June 2013
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- Figure 133: Magazines read or looked at in the last six months (part III), all versus seniors by age, May 2012-June 2013
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- Figure 134: Magazines read or looked at in the last six months (part IV), all versus seniors by age, May 2012-June 2013
- Attitudes toward advertising
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- Figure 135: Attitudes toward advertising, all versus aged 55+ by age group, May 2012-June 2013
- Leisure time and activities
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- Figure 136: Average hours per day spent in primary activities, by age – part I, 2012
- Figure 137: Average hours per day spent in primary activities, by age – part II, 2012
Appendix – Senior Associations
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