| MP93154 |
| KEY NOTE The Grey Market : June 2004 |
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This report covers: The, Grey Market, income, expenditure, car ownership, savings and insurance, advertising and marketing, expenditure, on, home, and, garden, clothing, healthcare, medication, alternative healthcare, health and well-being, leisure, holidays, leisure time, international perspective, consumer dynamics, eating and drinking, out, music, holidays,
Companies covered include: Saga, Group, Help the Aged, Age Concern,
EXECUTIVE SUMMARY
| Executive Summary |
| Between 1976 and 2002, the population of adults increased by 12.7%, from just under 21 million to 23.6 million. The main factor for this is the ageing of those born during the post-war `baby boom'. In addition, advances in healthcare and living conditions mean that life expectancy is growing steadily, leading to population increases at the oldest end of the age scale. |
| Three quarters of all those over 45 own their own homes, and nearly half own them outright. This makes them more likely than other age groups to have the incentive to improve their homes, and also to spend money on their gardens. Both government expenditure figures, and Key Note's own research, show that those in the late 50s and early 60s are key age groups for gardening. According to Key Note research, more than three-quarters of 55 to 64 year-olds (considerably more than in any other age group) spend money regularly on gardening. |
| On the whole, today's older consumers are fitter, and more youthful in appearance, than ever. With children having, for the most part, left home, they have a higher disposable income to spend on clothing, toiletries, and beauty treatments which can help to 'hold back the years'. As such, they form an important market for all these products and services. Government figures show the households headed by 50 to 64 year-olds spend more per week on women's clothing than any other, and this group also spends more than any other on dry cleaning. |
| Consumers in the 45 to 54 age group are particularly likely to have positive attitudes to complementary medicines, and to use alternative remedies. |
| The increased leisure time, and higher disposable income, which characterises many consumers in the 45-plus age group, means that they are prime targets for the holiday and leisure markets. According to Key Note's research, those in the 55 to 64 year age group are more likely than any other to spend regularly on holidays abroad, and are also among the most likely to spend regularly on UK holidays. |
| Older consumers are important politically, mainly because of their sheer numerical power, but also because historically, they have been more likely than those in younger age groups to vote in elections. This political power will become even more important in the future. Latest government projections demonstrate that by 2006, the number of people of state pensionable age will be the same as the population of children under 16, and by 2031, there will be 4 million more pensioners than children. |
TABLE OF CONTENTS
| Executive Summary |
| 1. Introduction |
| Report Coverage |
| DEFINITION |
| 2. Strategic Overview |
| POPULATION STATISTICS |
| Table 1: The UK Population by Age Group (000), 1976-2002 |
| Table 2: The UK Over-45 Population by Age Group (000), 1976-2002 |
| Table 3: Life Expectancy at Birth by Sex in England and Wales (years), 1972/1976-2000/2002 |
| Table 4: Population Aged 45 and Over by Sex by Age Group (000), 1998 and 2002 |
| Table 5: Men and Women Aged 4 and Over by Age Group (% of each age group), 2002 |
| DEMOGRAPHIC PROFILE |
| Table 6: Demographic Profile of Adults Aged 45 and Over, 2004 |
| INCOME |
| Table 7: Income and Source of Income by Age of Head of Household Reference Person† in the UK (£ and %), 2002/2003 |
| EXPENDITURE |
| Table 8: Average Weekly Household Expenditure by Age of Head of Household Reference Person† (£), 2002/2003 |
| Table 9: Average Weekly Household Expenditure by Age of Head of Household Reference Person† (%), 2002/2003 |
| CAR OWNERSHIP |
| Table 10: Adults Aged 45 and Over Who Own Cars (%), 2004 |
| SAVINGS AND INSURANCE |
| Table 11: Those Spending Regularly on Savings Investments and Insurance Policies by Age Group (%), 2004 |
| ADVERTISING AND MARKETING |
| 3. Home and Garden |
| INTRODUCTION |
| Table 12: Adults Aged 45 and Over Who Own Homes (%), 2004 |
| EXPENDITURE ON HOME AND GARDEN |
| Table 13: Average Weekly Expenditure on Household Goods and Services by Households Headed by Adults Aged 50-Plus (£), 2002-2003 |
| THE CONSUMER |
| Table 14: Those Spending Regularly on Mortgage and Rent by Age Group (%), 2004 |
| Table 15: Those Spending Regularly on Gardening and Home Improvements by Age Group (%), 2004 |
| Table 16: Selected DIY Activities by Age Group (%), 2004 |
| Table 17: Selected DIY Activities by Adults Aged 45 and Over, 2001 and 2004 |
| MARKETING AND SUPPLIER ACTIVITY |
| 4. Looking Good and Staying Healthy |
| INTRODUCTION |
| Table 18: Those Agreeing That 'My Appearance Is As Important To Me, And I Take As Much Care Now as I Did 10 Years Ago' by Women Aged 45 and Over (%), 2003 |
| Table 19: Those Agreeing That 'I Am More Concerned About My Health Than I Was 5 Years Ago' by Women Aged 45 and Over (%), 2003 |
| EXPENDITURE ON CLOTHING |
| Table 20: Average Weekly Expenditure on Clothing and Footwear by Households Headed by Adults Aged 50-Plus (£), 2002/2003 |
| expenditure on personal care |
| Table 21: Average Weekly Expenditure on Personal Care by Households Headed by Adults Aged 50-Plus (£), 2002/2003 |
| THE CONSUMER |
| Clothing |
| Table 22: Those Spending Regularly on Clothes by Age Group (%), 2004 |
| Health and Well-Being |
| Table 23: Those Spending Regularly on Medications by Age Group (%), 2004 |
| Table 24: Use of Alternative Healthcare by Age Group (%), 2003 |
| Table 25: Attitudes to Alternative Healthcare by Age Group (%), 2003 |
| MARKETING AND SUPPLIER ACTIVITY |
| 5. Leisure and Holidays |
| INTRODUCTION |
| Table 26: Those Agreeing That 'I Take More Holidays And Short Breaks Now Than I Did 10 Years Ago' by Women Aged 45 and Over (%), 2003 |
| Table 27: Those Agreeing That 'I Go Out With Friends At Least Once A Month' by Women Aged 45 and Over, 2003 |
| EXPENDITURE ON LEISURE AND HOLIDAYS |
| Table 28: Average Weekly Expenditure on Audio-Visual, Photographic and Information Processing Equipment by Households Headed by Adults Aged 50- Plus (£), 2002/2003 |
| Table 29: Average Weekly Expenditure on Other Recreational Items and Equipment, Gardens and Pets, by Households Headed by Adults Aged 50-Plus (£), 2002-2003 |
| Table 30: Average Weekly Expenditure on Newspapers, Books and Stationery by Households Headed by Adults Aged 50+ (£), 2002/2003 |
| Table 31: Average Weekly Expenditure on Package Holidays, by Households Headed by Adults Aged 50- Plus (£), 2002-2003 |
| THE CONSUMER |
| Leisure Time |
| Table 32: Those Spending Regularly on Newspapers, Magazines and Books by Age Group (%), 2004 |
| Table 33: Those Spending Regularly on CDs, Records or Tapes by Age Group (%), 2004 |
| Table 34: Those Spending Regularly on Eating Out, and Drinking in Pubs by Age Group (%), 2004 |
| Holidays |
| Table 35: Those Spending Regularly on Holidays in the UK and Abroad by Age Group (%), 2004 |
| Table 36: Factors Influencing British Residents' Choice of Holiday by Age Group (%), 2004 |
| MARKETING AND SUPPLIER ACTIVITY |
| 6. PEST Analysis |
| POLITICAL FACTORS |
| ECONOMIC FACTORS |
| SOCIAL FACTORS |
| TECHNOLOGICAL FACTORS |
| Table 37: Adults Who Have Ever Used the Internet by Age Group, 2000-2003 |
| Table 38: Adults Who Used the Internet in the Three Months Prior to Interview in October 2003 by Age Group (%), 2003 |
| Table 39: Consumer Penetration of Buying Over the Internet by Age Group (%), 2004 |
| 7. International Perspective |
| Table 40: Percentage of the Population Aged 65+ and 80+ in the US and Selected European Countries (%), 1970 and 2002 |
| Table 41: Gender Ratio in the US and Selected European Countries (number of men for every 100 women), 2002 |
| 8. Consumer Dynamics |
| Table 42: Regular Purchases by Those Aged 45+ (%), March 2004 |
| SPENDING ON NEWSPAPERS, Books and MAGAZINES |
| Table 43: Those Regularly Spending Money on Newspapers and Magazines (%), 2004 |
| spending on books |
| Table 44: Those Regularly Spending Money on Books (%), 2004 |
| SPENDING ON EATING AND DRINKING OUT |
| Table 45: Those Regularly Spending Money on Eating Out and Drinking in Pubs (%), 2004 |
| SPENDING ON CLOTHES |
| Table 46: Those Regularly Spending Money on Clothes (%), 2004 |
| SPENDING ON MUSIC |
| Table 47: Those Regularly Spending Money on CDs, Records or Tapes (%), 2004 |
| SPENDING ON HOLIDAYS |
| Table 48: Those Regularly Spending Money on Holidays in the UK and Abroad (%), 2004 |
| SPENDING ON GARDENING AND HOME IMPROVEMENTS |
| Table 49: Those Regularly Spending Money on Gardening and Home Improvements (%), 2004 |
| SPENDING ON MORTGAGE OR RENT |
| Table 50: Those Regularly Spending Money on Mortgage and Rent, 2004 |
| SPENDING ON FINANCIAL PRODUCTS |
| Table 51: Those Regularly Spending Money on Insurance and Savings (%), 2004 |
| SPENDING ON MEDICATIONS |
| Table 52: Those Regularly Spending Money on Medications, 2004 |
| 9. Company Profiles |
| SAGA GROUP LTD |
| Corporate Strategy |
| Profitability |
| Table 53: Saga Group Ltd — Financial Results (£000), 2001-2003 |
| Recent and Future Developments |
| HELP THE AGED |
| Corporate Strategy |
| Profitability |
| Table 54: Help the Aged — Financial Results (£000), 2001-2003 |
| Recent and Future Developments |
| AGE CONCERN |
| Corporate Strategy |
| Profitability |
| Table 55: Age Concern Enterprises Ltd — Financial Results (£000), 2000-2002 |
| Recent and Future Developments |
| 10. The Future |
| Table 56: Projected UK Population by Age Group (000), 2002-2031 |
| Table 57: Projected UK Population by Age Group (%), 2002-2031 |
| 11. Further Sources |
| Associations |
| General Sources |
| Government Publications |
| Other Sources |
| Bonnier Information Sources |
Text © 2004 Key Note
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Last updated by Amanda Porteous July 2004
