Table of Contents
Executive Summary
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- The market
- The senior population continues to grow
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- Figure 1: Trends in the age structure of the UK population, 2013-23
- Obesity rates highest amongst older adults
- Mental health awareness continues to rise
- Over two thirds of over-55s are smartphone users
- Over-65s boast strongest financial situation
- The consumer
- Third age careers
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- Figure 2: Things the over-55s feel too old to do, by age, June 2018
- Promoting health in advertising
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- Figure 3: Factors the over-55s find most engaging in advertising, by age, June 2018
- Stuck in their ways?
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- Figure 4: Most common stereotypes about the over-55s, June 2018
- A preference for in-store shopping
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- Figure 5: Online vs offline activity preferences of the over-55s, June 2018
- 55-64s shop around
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- Figure 6: Bargain-hunting behaviours of the over-55s, by age, June 2018
- A more relaxed state of being
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- Figure 7: Changes in character as people have got older, June 2018
- What we think
Issues and Insights
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- Open to diversity
- The facts
- The implications
- Engaging with senior health
- The facts
- The implications
The Market – What You Need to Know
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- The senior population continues to grow
- Obesity rates highest amongst older adults
- Mental health awareness continues to rise
- Over two thirds of over-55s are smartphone users
- Facebook proves most popular social media platform
- Over-65s boast strongest financial situation
Market Drivers
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- Overview
- The senior population continues to grow
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- Figure 8: Trends in the age structure of the UK population, 2013-23
- Health and wellbeing
- Health problems accompany rising life expectancy
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- Figure 9: Life expectancy at age 65 (years), by gender, England, 1991-93 to 2012-14
- Urging seniors to be more active
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- Figure 10: Body mass index (BMI), by age, England, 2016
- Mental health awareness continues to rise
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- Figure 11: Screengrab of over-55s included in Lloyds Bank’s ‘Get the Inside Out’ campaign, February 2018
- The growing problem of loneliness
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- Figure 12: Age UK Kitchen Kings initiative, October 2017
- Tech usage
- Over two thirds of over-55s are smartphone users
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- Figure 13: Personal technology product ownership, all vs over-55s, April 2018
- Facebook proves most popular social media platform
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- Figure 14: Recent social media network usage, by age, April 2018
- Finances
- Over-65s boast strongest financial situation…
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- Figure 15: Trends in how respondents would describe their current financial situation, by age, June 2018
- …while 55-64s see their finances squeezed
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- Figure 16: Young adults aged 20-34 living with their parents, 1997-2017
The Consumer – What You Need to Know
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- Third age careers
- Ageless style
- Premium travel options for older travellers
- Promoting health in advertising
- Financial pressures drive engagement with special offers
- Open to diversity
- A “tech-shy” reputation
- Online holiday market
- A strong preference for in-store grocery shopping
Am I Too Old?
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- Third age careers
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- Figure 17: Things the over-55s feel too old to do, by age, June 2018
- Ageless style
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- Figure 18: May Musk for CoverGirl, September 2017
- Stylish senior men
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- Figure 19: Proportion of over-55s who feel too old to follow the latest beauty and fashion trends, by age and gender, June 2018
- Tailoring fitness clubs to the needs of the elderly…
- …and expanding the athleisure movement
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- Figure 20: Athleta leisure and sportswear, March 2018
- Premium travel options for older travellers
Appealing to the Over-55s in Advertising
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- Promoting health in advertising
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- Figure 21: Factors the over-55s find most engaging in advertising, by age, June 2018
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- Figure 22: Nuffield Health ‘Built Around You’ campaign, December 2017
- Financial pressures drive engagement with special offers
- Open to diversity
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- Figure 23: Factors the over-55s find most engaging in advertising, June 2018
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- Figure 24: Amazon Christmas advert 2016, November 2016
- Charitable opportunities
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- Figure 25: Knorr charity click initiative, April 2018
Common Stereotypes
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- Stuck in their ways
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- Figure 26: Most common stereotypes about the over-55s, June 2018
- But what if they really are stuck in their views?
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- Figure 27: Heineken ‘Worlds Apart’ campaign, April 2017
- Younger seniors reject “tech-shy” stereotype
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- Figure 28: Most common stereotypes about the over-55s, by age, June 2018
- Advertising stereotypes fail to engage
Online vs Offline Preferences
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- Online holiday market
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- Figure 29: Online vs offline preferences for booking a holiday and finding new recipes, by age, June 2018
- A strong preference for in-store grocery shopping
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- Figure 30: Online vs offline preference for buying groceries, by age, June 2018
- Bolstering the in-store experience
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- Figure 31: Online vs offline preference for buying non-groceries, by age, June 2018
Bargain Hunters
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- Most shop around for deals…
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- Figure 32: Bargain-hunting behaviours of the over-55s, by age, June 2018
- …but just 35% use the internet to do so
Character Changes
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- A more relaxed state of being…
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- Figure 33: Changes in character as people have got older, June 2018
- …and a more relaxed mindset
- Increasingly thrifty
- Repositioning loneliness
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- Figure 34: Proportion of over-55s who describe themselves as having become more “lonely” and/or “sociable”, by age and gender, June 2018
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Consumer research methodology
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