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Slide 2 The grey, gold, ethnic dynamic
The next 30 mins…
oldies
the rich ones
sub-segments
what to do?
Slide 3 The grey, gold, ethnic dynamic
oldies
the rich ones
sub-segments
what to do?
Slide 4 The grey, gold, ethnic dynamic
Demographics
+ Spending power
Slide 5 The grey, gold, ethnic dynamic
Slide 6 The grey, gold, ethnic dynamic
Baby Boomer Generation
US BIRTH RATES
Slide 7 The grey, gold, ethnic dynamic
UK BIRTH RATES
Slide 8 The grey, gold, ethnic dynamic
The UK “double boom”
56 - 60
36 - 50
Slide 9 The grey, gold, ethnic dynamic
Slide 10 The grey, gold, ethnic dynamic
Today 2017
65-69
70-74
75-79
80-84
85+ 350,000
200,000
230,000
700,000
710,000 Boom 1
old-old
Slide 11
The next 10 years
The grey, gold, ethnic dynamic
65+
20 -40 321,000
2.2 million
18-25 0
Slide 12 The grey, gold, ethnic dynamic
UK Demographics
+ 4 million
Slide 13 The grey, gold, ethnic dynamic
Health of the older customer?
Slide 14 The grey, gold, ethnic dynamic
Life expectancy
60 70 65 75 85 80 90 95
Men
Women
Healthy life expectancy
Slide 15
Life expectancy
The grey, gold, ethnic dynamic
82.2
86.0
72.5
78.1
≈10 years
≈8 years
Slide 16 The grey, gold, ethnic dynamic
Slide 17
The over-55s
The grey, gold, ethnic dynamic
45% 23%
Slide 18
Geography
Mosaic Small Town Seniors
% of constituency population
The grey, gold, ethnic dynamic
Slide 19
Income +Assets wealthy 50+
The grey, gold, ethnic dynamic
Slide 20 The grey, gold, ethnic dynamic
Demographics
+ Spending power
Slide 21 The grey, gold, ethnic dynamic
UK wealth distribution
Slide 22 The grey, gold, ethnic dynamic
More Healthy Wealthy
older people
Slide 23 The grey, gold, ethnic dynamic
oldies
the rich ones
sub-segments
what to do?
Slide 24 The grey, gold, ethnic dynamic
£s 5.2 trillion
Slide 25
2.6 Million
Meet the Charmed Generation
Wealth OF UK CONSUMERS
Net Capital Wealth
45 - 64 65+
£200,000 - £500,000
43% 35%
£500,000 - £1,000,000
42% 40%
Slide 26 The grey, gold, ethnic dynamic
Income of your customers (£25k)
2.4 million
Slide 27 The grey, gold, ethnic dynamic
Socio-economic analysis
UK population aged 55 - 70
Slide 28 The grey, gold, ethnic dynamic
55+ = 17 million
The Charmed Generation
≈ 2.5 Million
Slide 29 The grey, gold, ethnic dynamic
► 20% of the retired have a mortgage (average £38,000)
► 30% have credit card debt of 3 months+ (average £6,000)
► The 60+ are the fastest growing group with significant debt problems
Slide 30 The grey, gold, ethnic dynamic
Property Pensions
Parents Prudence
Why are they ‘charmed’?
Slide 31 The grey, gold, ethnic dynamic
Slide 32 The grey, gold, ethnic dynamic
Slide 33 The grey, gold, ethnic dynamic
Slow income growth
Contract employment
Debt from funding education
Cost of credit card debt
High cost of housing
Healthcare and education costs
Slide 34 The grey, gold, ethnic dynamic
A third of 30 year old men live at home
Young graduates face an effective tax rate of 50%
Average home = £200,000 Median wage <£20,000/year
Insecure Pressured Over-taxed Debt-ridden
Slide 35 The grey, gold, ethnic dynamic
15 20 70 40 30 60 50 80
Age
Charmed Generation
ipod generation
Slide 36 The grey, gold, ethnic dynamic
► Approx 2.5 million people
► The Charmed Generation have:
► Wealth (lots of it!)
► Income (disposable)
► A ‘one time’ market opportunity
► Economically strong compared to their children
Slide 37 The grey, gold, ethnic dynamic
oldies
the rich ones
sub-segments
what to do?
Slide 38
Numbers aged 50-59
The grey, gold, ethnic dynamic
Slide 39
Numbers aged 70-79
The grey, gold, ethnic dynamic
Slide 40
Numbers aged 80+
The grey, gold, ethnic dynamic
Slide 41
Attitudes
Meet the Charmed Generation
Do they really like the same milkshake
s?
Slide 42 Meet the Charmed Generation
Massive generalisations
Less emphasis on networks
Fewer social activities
More resistant to change
Interests are often replacement for work
Family centric (ish)
More social
Work at retaining networks
More adventurous
Initiators of major life changes
Family centric
Slide 43 The grey, gold, ethnic dynamic
Slide 44
A positive – happy group
Women (%)
50 – 70 25-49
Optimistic 74 68
Unhappy 31 39
Self confident 69 63
Bored 22 30
Feel pressurised 42 65
The grey, gold, ethnic dynamic
Source: DDB 2006
Slide 45
Health/Environmentally conscious group
Women (%)
50 - 70 25-49
“Make great efforts to take care of my health” 82 68
“Try and buy environmentally friendly products” 68 58
The grey, gold, ethnic dynamic
Source: DDB 2006
Slide 46
What drives the 50-70 year old woman?
► “My time” – I have waited for it!
► Authenticity – experiences trump possessions
► Realism about ageing – look the best I can
► Friendships – especially girlfriends
► Finite life - no time to lose
► Certainty - knows what she likes
► Friends’ opinions - WOM works
The grey, gold, ethnic dynamic
Slide 47 The grey, gold, ethnic dynamic
A couple of “so what” examples
Men
Women Men Women X X
Slide 48 The grey, gold, ethnic dynamic
Women
Aged 60-74
56%+
Slide 49 The grey, gold, ethnic dynamic
Widowhood
Aged 60-74
35%+
Slide 50 The grey, gold, ethnic dynamic
70% of new retirement properties purchased by a women
Slide 51 The grey, gold, ethnic dynamic
Slide 52 The grey, gold, ethnic dynamic
oldies
the rich ones
sub-segments
what to do?
Slide 53
The numbers
000s
White 52,481
Asian 2,082
Black Caribbean and African
1,051
Chinese 243
The grey, gold, ethnic dynamic
Slide 54
The numbers
000s 65+ 000s
White 52,481 16.9% 8,869
Asian 2,082 5.3% 110
Black Caribbean and African
1,051 6.5% 68
Chinese 243 4.0% 10
The grey, gold, ethnic dynamic
Slide 55
Over- 65s
Female
White 58%
Asian 47%
Black Caribbean and African
49%
Chinese 55%
The grey, gold, ethnic dynamic
Slide 56
Over- 65s
Female Not born in
the UK
White 58% 5%
Asian 47% 95%
Black Caribbean and African
49% 93%
Chinese 55% 94%
The grey, gold, ethnic dynamic
Slide 57
Be careful – of generalisations
The grey, gold, ethnic dynamic
Female Not born in
the UK
Indian 50% 97%
Pakistani 45% 90%
Bangladeshi 34% 93%
Slide 58 The grey, gold, ethnic dynamic
Aged 60-74 Religion Jewish
Muslim
Hindu
Slide 59 The grey, gold, ethnic dynamic
Aged 40-59 Ethnicity
Indian
Pakistani
Black
Slide 60 The grey, gold, ethnic dynamic
Areas in UK with a highest number of ethnic residents aged 65+
Slide 61
Slide 62
Wembley Central (9% are 65+)
Slide 63
The older ethnic market
The grey, gold, ethnic dynamic
Small Highly fragmented
Geography
Culture
Slide 64
The older ethnic market
The grey, gold, ethnic dynamic
Poorly researched attitudes & behaviours
High wealth ►London-centric
Slide 65 The grey, gold, ethnic dynamic
oldies
the rich ones
sub-segments
What to do?
Slide 66 The grey, gold, ethnic dynamic
A disparate group
One thing in common
Slide 67 The grey, gold, ethnic dynamic
?
One big thing in common
Slide 68
What to do?
Location Channel / Media choice Promotional creative Household composition Product design
The grey, gold, ethnic dynamic
Wo
me
n
2.5 Million 17 million
Slide 69
What to do?
Location Channel / Media choice Promotional creative Household composition Product design
The grey, gold, ethnic dynamic
2.5 Million 17 million Ethnic
ity
Slide 70 The grey, gold, ethnic dynamic
Dick Stroud [email protected] www.20plus30.com www.the50plusmarket.com
