Fashion for the Over-55s  - UK - October 2011

INTRODUCTION
Definition
Abbreviations
EXECUTIVE SUMMARY
The market
Figure 1: Best and worst case forecast value sales of clothing and footwear to over-55s, 2006-16
Market factors
Ageing population
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
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
Figure 4: Attitudes towards buying clothes, by age group, February 2011
Age reflects in shopping behaviour
Figure 5: Outlets where clothing has been purchased in the last 12 months, August 2011
Marks & Spencer excels on quality
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
Figure 7: Top 15 least preferred outlets to purchase clothes at stores, by age group, August 2011
Limited appeal of mid-market fashion outlets
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
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
Trend: Agelessness
Trend: Extend my brand
INTERNAL MARKET ENVIRONMENT
Key points
Comfort and looking well-dressed are the top priorities
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
Figure 10: Statements on personal care, by age groups, 2011
Personal appearance is important
Figure 11: Statements on personal appearance, by age group, 2011
Age influences clothes size
Figure 12: UK clothing sizes bought by women, by age, April 2011
Four in ten over-55 men are plus-size
Figure 13: UK clothing sizes bought by men, by age, April 2011
Over-55s becoming more technology- and internet-savvy
Figure 14: Frequency of making a purchase online, by demographics, 2010
BROADER MARKET ENVIRONMENT
Key points
Shifting age structure
Figure 15: Trends in the age structure of the UK population, 2006-11 and 2011-16
Figure 16: Trends in the over-55 age structure of the UK population, 2006-20
Life expectancy climbs
Figure 17: Life expectancy of 55-year-olds, 2004-15
Retirement age edges up
Figure 18: working status, by age and gender, 2011
ABs to boost clothing sales
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
Figure 20: GDP, PDI, consumer expenditure and savings, at constant 2011 prices, 2006-16
Turbulence in the eurozone and the UK economic recovery stagnates
Figure 21: Trends in GDP quarterly percentage change, Q1 2004-Q2 2011
Consumer confidence remains in deep negative territory
Figure 22: Trends in consumer confidence, January 2008-September 2011
Clothing inflation accelerates
Figure 23: Inflation in clothing and footwear, January 2006-August 2011
STRENGTHS AND WEAKNESSES IN THE MARKET
Strengths
Weaknesses
WHO’S INNOVATING?
Key points
Retailers target the more mature shopper
Shift towards older models
Media aimed at older consumers
COMPETITIVE CONTEXT
Key points
Solid growth of 10% between 2006 and 2011
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
Key points
Value of over-55 clothing and footwear market reaches £5.7 million
Figure 25: Over-55s’ estimated expenditure on clothing and footwear, 2006-11
The future
Impressive growth of the over-55 fashion market
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
Key points
Figure 27: Leading clothing retailers, 2009/10
Figure 28: Leading department stores, 2009/10
Figure 29: Specialist plus, tall and petite clothing retailers and selected mail order operators, 2009/10
COMPANIES AND PRODUCTS
N Brown
Figure 30: Key financials for N Brown PLC, 2010-11
CC
Figure 31: Key financials for Country Casuals Limited, 2009-10 
Bonmarché
Figure 32: Key financials of Bonmarché, 2009-10
Cotton Traders
Figure 33: Key financials of Cotton Traders Limited, 2009-10
House of Fraser
Figure 34: Key financials of House of Fraser, 2010-11
Evans
Figure 35: Key financials of Arcadia Group Brands Limited, 2009-10
Debenhams
Figure 36: Key financials of Debenhams PLC, 2009-10
Marks & Spencer
Figure 37: Key Financials for M&S, 2010-11
John Lewis
Figure 38: Key financials for John Lewis, 2010-11
THE CONSUMER – OVER-55S CLOTHES BUYING BEHAVIOUR
Key points
Making clothing last
Figure 39: Statements on clothing, by age groups, 2011
Practical, personal and elegant
Minimal demand for young styles
Figure 40: Over-55s’ statements on clothing, by gender, 2011
The rising popularity of jeans
Disinterest in designer clothing
Figure 41: Trends in statements on clothing among over-55s, 2006-11
THE CONSUMER –CLOTHES BOUGHT BY OVER-55S
Key points
Over-55s are more reluctant shoppers
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
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
Figure 44: Purchasing of womenswear, by female over-55s in the last 12 months, 2011
Figure 45: Purchasing of menswear, by male over-55s in the last 12 months, 2011
THE CONSUMER – HOW OFTEN OVER-55S BUY CLOTHES
Key points
Over-55s are seasonal shoppers
Figure 46: Women’s frequency of buying clothes, by age group, February 2011
Three in ten men rarely buy clothes
Figure 47: Men’s frequency of buying clothes, by age group, February 2011
THE CONSUMER – OVER-55S’ ATTITUDES TOWARDS CLOTHING STYLES WORN
Key points
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
Figure 49: Attitudes towards clothing worn, February 2011
THE CONSUMER – OVER-55S’ ATTITUDES TOWARDS SHOPPING FOR CLOTHES
Key points
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
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
Key points
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
Key points
M&S triumphs on quality
Figure 53: Reasons why over-55 consumers shop for clothes at M&S, August 2011
Value and convenience attract shoppers to supermarkets
Figure 54: Reasons why over-55 consumers shop for clothes at Asda and Tesco, August 2011
Matalan and Primark provide value and choice
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
Figure 56: Reasons why over-55 consumers shop for clothes at Debenhams, August 2011
Shopping environment and staff
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
Key points
Figure 58: Top 15 least preferred outlets to purchase clothes from, by age group, August 2011
Primark falls down on quality
Figure 59: Reasons why consumers do not shop for clothes at Primark, August 2011
TK Maxx can enhance its in-store environment
Figure 60: Reasons why consumers do not shop for clothes at TK Maxx, August 2011
Quality is the main issue at Matalan and Peacocks
Figure 61: Reasons why consumers do not shop at Matalan and Peacocks, August 2011
Quality deters from Tesco clothing
Figure 62: Reasons why consumers do not shop at Tesco, August 2011
Youth-orientated mid-market fashion outlets overlook over-55s
Figure 63: Reasons why consumers do not shop at River Island and Topshop/Topman, August 2011
Department stores over-priced?
Figure 64: Reasons why consumers do not shop at House of Fraser and John Lewis, August 2011
Comparison of quality
Figure 65: Over-55 consumers who do not shop at certain retailers because the quality is not high enough
APPENDIX – INTERNAL MARKET ENVIRONMENT
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
Figure 68: Statements on personal appearance among over-55s, by demographics, 2011
Figure 69: Statements on personal appearance among over-55s, by demographics, 2011
Figure 70: Statements on personal appearance among over-55s, by demographics, 2011
Figure 71: Statements on personal care among over-55s, by demographics, 2011
APPENDIX – THE CONSUMER – CLOTHES BUYING BEHAVIOUR
Figure 72: Trends in statements on clothing among over-55s, 2004-11
APPENDIX – THE CONSUMER – WHAT CLOTHES ARE BOUGHT?
Figure 73: Trends in purchasing outerwear in the last 12 months among over-55s, 2008-11
Figure 74: Purchasing of outwear in the last 12 months, by age and gender, 2011
APPENDIX – THE CONSUMER – WHERE OVER-55S BUY CLOTHES
Figure 75: Outlets where clothing has been purchased in the last 12 months, August 2011
Figure 76: Main outlets where clothing is purchased, August 2011
Figure 77: Most popular outlets where clothing has been purchased in the last 12 months, by demographics, August 2011
Figure 78: Next most popular outlets where clothing has been purchased in the last 12 months, by demographics, August 2011
Figure 79: Other outlets where clothing has been purchased in the last 12 months, by demographics, August 2011
Figure 80: Outlets where clothing has been purchased in the last 12 months, by demographics, August 2011
Figure 81: Most popular main outlets where clothing is purchased, by demographics, August 2011
Figure 82: Next most popular main outlets where clothing is purchased, by demographics, August 2011
APPENDIX – THE CONSUMER – REASONS WHY OVER-55S ARE ATTRACTED TO CERTAIN STORES
Figure 83: Reasons why consumers shop for clothes at Marks & Spencer, by demographics, August 2011
Figure 84: Reasons why consumers shop for clothes at Marks & Spencer, by demographics, August 2011
Figure 85: Reasons why consumers shop for clothes at Primark, by demographics, August 2011
Figure 86: Reasons why consumers shop for clothes at Next, by demographics, August 2011
Figure 87: Reasons why consumers shop for clothes at Asda, by demographics, August 2011
Figure 88: Reasons why consumers shop for clothes at Tesco, by demographics, August 2011
Figure 89: Reasons why consumers shop for clothes at Debenhams, by demographics, August 2011
Figure 90: Reasons why consumers shop for clothes at Matalan, by demographics, August 2011
Figure 91: Reasons why consumers shop for clothes at New Look, by demographics, August 2011
Figure 92: Reasons why consumers shop for clothes at H&M, by demographics, August 2011
Figure 93: Reasons why consumers shop for clothes at TK Maxx, by demographics, August 2011
APPENDIX – THE CONSUMER – WHERE OVER-55S PREFER NOT TO BUY CLOTHES
Figure 94: Least preferred outlets to purchase clothes at, by demographics, August 2011
Figure 95: Further non-preferred outlets to purchase clothes at, by demographics, August 2011
Figure 96: Other least preferred outlets to purchase clothes at, by demographics, August 2011
Figure 97: Least popular least preferred outlets to purchase clothes at, by demographics, August 2011
Figure 98: Other non-preferred outlets to purchase clothes at, by demographics, August 2011
Figure 99: Other non-preferred outlets to purchase clothes at stores, by demographics, August 2011
Figure 100: Reasons why consumers do not shop for clothes at Evans, by demographics, August 2011
Figure 101: Reasons why consumers do not shop for clothes at Primark, by demographics, August 2011
Figure 102: Reasons why consumers do not shop for clothes at TK Maxx, by demographics, August 2011
Figure 103: Reasons why consumers do not shop for clothes at Dorothy Perkins, by demographics, August 2011
Figure 104: Reasons why consumers do not shop for clothes at CC (formerly Country Casuals), by demographics, August 2011
Figure 105: Reasons why consumers do not shop for clothes at House of Fraser, by demographics, August 2011
Figure 106: Reasons why consumers do not shop for clothes at Peacocks, by demographics, August 2011
Figure 107: Reasons why consumers do not shop for clothes at Matalan, by demographics, August 2011
Figure 108: Reasons why consumers do not shop for clothes at John Lewis, by demographics, August 2011
Figure 109: Reasons why consumers do not shop for clothes at River Island, by demographics, August 2011
Figure 110: Reasons why consumers do not shop for clothes at Topshop/Topman, by demographics, August 2011
Figure 111: Reasons why consumers do not shop for clothes at Tesco, by demographics, August 2011
Figure 112: Reasons why consumers do not shop for clothes at Wallis, by demographics, August 2011
Figure 113: Reasons why consumers do not shop for clothes at Asda, by demographics, August 2011