| MP93214 |
| KEY NOTE DINKY Market : June 2004 |
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This report covers: DINKY market, population trends, Under-45's, household size, family formation, marriage, births, household income, expenditure, lifestyle factors, childlessness, a concious choice, fertility and decision making,couples, employment, children, having a child, the expenditure, house and home, DIY market, finance, the pension market, eating out, sales growth, eating out, holiday market,domestic holiday market, outbound holiday market, Europe, The US,
Companies covered include: Dragoman, Thomson Gold, Wild Frontiers,
EXECUTIVE SUMMARY
| 1 | Executive Summary |
| 2 | DINKYs — an acronym for `double income, no kids yet' — are married or cohabiting couples who have not yet had children (or who do not intend to do so). Although the term DINKY is perhaps less in fashion than when Key Note last reviewed the sector in 1999, research for this report indicates that to neglect this sector is to ignore a major consumer group. The affluence of the past few years has benefited DINKY households to a greater extent than single-person or family households. Moreover, increasing personal wealth is bringing about major shifts in DINKY lifestyles and spending patterns that are of great significance in the key markets examined in this report: holidays, eating out, finance and the home. |
| 3 | Age is a significant factor in DINKY status. Younger couples in the 16 to 45 age group are far more likely to earn less as they establish careers and they are therefore more likely to rent rather than buy and to spend less on leisure products. As couples earn more in their late 20s, their prosperity increases and, if they decide not to have children, they have the added advantage of more personal disposable income. |
| 4 | Single-family households occupied by two adults under retirement age and no children now nearly outnumber all households occupied by couples with children. The continuing rise in the number of DINKY households is caused primarily by the key lifestage decisions to delay both marriage and childbirth. As more women enter the workforce, childbirth is delayed or, in many cases, deferred altogether — the UK has one of the highest percentages of childless couples, with over one woman in five now in her 40s without children. Increased freedom and opportunity for women have brought widening choice. |
| 5 | The consumer research conducted for this report indicates that affluent DINKYs are higher spenders than other AB adults in many key leisure markets, including Internet shopping and home improvements. They also eat out on a more regular basis and are far more confident that they will have as much to spend in the future as they do at present. DINKYs' biggest item of leisure spending is the foreign holiday. The short-break sector, especially short breaks abroad, has been a particular beneficiary of DINKY spending. |
| 6 | However, the widest emerging variables between DINKYs and the adult population as a whole are in the financial sector. Affluence has reshaped DINKY thinking about saving and retirement. DINKYs are emerging as a key client group for financial services. |
| 7 | Key Note believes that today's DINKYs in the 35 to 44 age group are enjoying a peak of prosperity and are translating their good financial fortune into planning for the future and early retirement. The rising cost of housing is set to alter younger DINKY spending plans. Economic forecasts are good and no significant downturn is anticipated in the key markets surveyed. However, as housing costs increase, younger DINKYs will have to invest more of their disposable income in housing. As a result, spending on `big-ticket' items, in particular, will come under threat. |
TABLE OF CONTENTS
| Executive Summary |
| 1. Introduction |
| BACKGROUND |
| Definition |
| 2. Strategic Overview |
| DEMOGRAPHIC BACKGROUND |
| Population Trends |
| Table 1: The UK Population by Region (million), 1971-2021 |
| Population of Under-45s |
| Table 2: The UK Population of Under-45s by Sex (million), 1990, 1995, 1999 and 2003 |
| Household Size |
| Table 3: Households in Great Britain by Size (%, million and number), 1971, 1981, 1991 and 2003 |
| Table 4: Households in Great Britain by Type of Household and Family (% and million), 1971, 1981, 1991 and 2002 |
| Family Formation |
| Marriage |
| Table 5: The Population Aged 16-Plus in Great Britain by Marital Status and Sex (%), 1971, 1981, 1991 and 2000 |
| Births |
| Table 6: Fertility Rates in the UK by Age of Mother at Childbirth (live births per 1,000 women and 000), 1971-2002 |
| The Economy in 2003 and 2004 |
| Table 7: Forecast UK Gross Domestic Product in Real Terms (%), 2004-2008 |
| Household Income |
| Table 8: Household Disposable Income (£), 1998-2002 |
| Table 9: Distribution of Equivalised Disposable Income in Great Britain by Family Type (% and million), 2001/2002 |
| Household Expenditure |
| Table 10: UK Household Expenditure by Type (index 1971=100 and £bn), 1971-2002 |
| DINKY Household Expenditure |
| Table 11: UK Household Expenditure by Selected Family Types (% and £ per week), 2002/2003 |
| Consumer Debt |
| Employment |
| Table 12: The UK Population of Working Age by Sex and Socio-Economic Classification (%), 2002 |
| 3. Lifestyle Factors |
| CHILDLESSNESS — A CONSCIOUS CHOICE? |
| DIFFERENT KINDS OF DINKYS |
| `HAVING CHILDREN IMPROVES THE QUALITY OF LIFE' |
| Table 13: Having Children Improves the Quality of Life (% of DINKYs), 2004 |
| Fertility and Decisionmaking |
| Table 14: Attitudes Towards Educating Young People (% of DINKYs), 1999 |
| Couples, Employment and Children |
| Having a Child — The Expenditure |
| Table 15: Average Costs of a Baby Before Birth and During the First Year (£), 2003 |
| 4. Internet Shopping |
| BACKGROUND |
| DINKY INTERNET SHOPPING |
| Table 16: Purchase of Goods Over the Internet (% of DINKYs), 2004 |
| 5. House and Home |
| THE HOUSING MARKET |
| THE DIY MARKET |
| Table 17: Consumer Expenditure on DIY Products at Current Prices (£m at rsp), 1999-2003 |
| Table 18: The UK Retail Market for DIY Products — Five Key Sectors by Value (£m at rsp), 1999-2003 |
| DINKYS AND HOME IMPROVEMENT |
| Table 19: Expenditure on Home Improvements (% of DINKYs), 2004 |
| Table 20: Penetration of Selected DIY Activities by Sex and Age (% of respondents), 2004 |
| Table 21: Types of Stores Visited to Purchase DIY Tools or Materials (% of respondents), 2004 |
| 6. Finance |
| DINKYS, FINANCIAL WELL-BEING AND CONFIDENCE |
| Table 22: DINKY Financial Well-Being and Confidence in Comparison with Similar-Aged Adults (%), 2004 |
| Table 23: Changes in Income (% of DINKYs), 2004 |
| SPENDING ON FINANCIAL PRODUCTS AND USING CREDIT |
| Table 24: The Purchase of New Financial Products in the Past Year (%), 2004 |
| Table 25: Spending on Financial Products and Paying by Credit (% of DINKYs), 2004 |
| THE PENSIONS MARKET |
| Table 26: Pension Premium Income for New and Continuing Policies Handled by UK Insurers by Category (£m), 1998-2002 |
| DINKYs and Pensions |
| Table 27: Retirement Plans and Pension Provision (% of DINKYs), 2004 |
| 7. Eating Out |
| THE RESTAURANT MARKET |
| Table 28: The Total UK Restaurant Market† by Value at Current Prices (£m at rsp), 1999-2003 |
| Table 29: Number of VAT-Based Enterprises Engaged as Restaurants, 1998-2003 |
| Sales Growth |
| Table 30: The Total UK Restaurant Market† by Value at Current Prices (£m at rsp), 1999-2003 |
| Restaurant Usage by Social Grade |
| Table 31: Restaurant Chains Eaten in During the Last Year by Socio-Economic Group (% of respondents), 2003 |
| EXPENDITURE AND TRENDS IN THE EATING-OUT MARKET |
| DINKYs and Eating Out |
| Table 32: Frequency of Eating Out (% of DINKYs), 2004 |
| 8. The Holiday Market |
| OVERVIEW |
| Table 33: The UK Holiday Market by Type of Holiday by Volume (million trips and index 1999=100), 1999-2003 |
| THE DOMESTIC HOLIDAY MARKET |
| Table 34: The UK Domestic Holiday Market by Length of Stay by Volume and Value (million trips, % and £bn), 1999-2003 |
| THE OUTBOUND HOLIDAY MARKET |
| Table 35: The UK Outbound Holiday Market by Length of Stay by Volume and Value (million trips, £bn and %), 1999-2003 |
| THE DINKY HOLIDAY MARKET |
| Table 36: The DINKY Holiday Market by Type of Holiday by Volume (million trips and index 1999=100), 1999-2003 |
| DINKY Holiday Expenditure |
| Table 37: DINKY Holiday Expenditure (£bn and index 1999=100), 1999-2003 |
| Trends in the DINKY Holiday Market |
| DINKYs and Holiday Patterns |
| Table 38: Short-Break and Child-Free Holidays (% of DINKYs), 2004 |
| Table 39: A Comparison of Holiday-Taking Patterns (%), 2004 |
| COMPANIES |
| Dragoman |
| Thomson Gold |
| Wild Frontiers |
| 9. Marketing |
| BRANDS |
| ADVERTISING CAMPAIGNS |
| MARKETING TRENDS |
| 10. An International Perspective |
| EUROPE |
| THE US |
| 11. The Future |
| DEMOGRAPHIC TRENDS |
| ECONOMIC AND LIFESTYLE TRENDS |
| Key Markets |
| 12. Further Sources |
| Associations |
| Publications |
| General Sources |
| Government Publications |
| Other Sources |
| Bonnier Information Sources |
Text © 2004 Key Note
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Last updated by Amanda Porteous June 2004
