The Silver £ | The Grey Market

The Silver £
Prepared by: Shannon Boudjema
Date: June 2010

Silver UK Market Trends:
One third of Great Britain’s population (approx. 21 million) aged 50+. 600,000 are here in London.
There are 8 million people aged 65+ in Great Britain with that number expected to increase through to 2029.
Increased life expectancy – there were 9600 Centenarians in 2008 – there is a clear and definitive upward trend to increase the members of this group through to 2031.
Half of all babies born since 2000 will live to be 100+. Lancelot Medical Journal.
Source: Key Note: Grey Consumer 2009 ONS Statistical Bulletin 2009 Stella Silver Survey 2010

Health, Wealth and Happiness index: Silver Generation are most content.
Relocate to South East England and other European destinations such as Spain.
Nursing and Funeral homes expected to see the greatest boom between 2012 through 2029 given the rapidly growing ageing population.
Wii Consoles in Bupa Nursing Homes.
Harley Davidson 3-wheeler for 70yr old rocker.
B&Q’s oldest employee is 95. <New Malden>

65+ market spent £97bn in the UK in 2008 alone. <Aged UK>
Race Online 2012, a UK government initiative to help educate the 4 million 65+ who have never accessed the internet.
Nearly half of all 50-plus living in London are now single.
Only half of all British women aged fifty-plus living in London have grand children.
Famous 65 year olds
<born in 1945>

Silver UK Consumers:
Travel, Healthy Living and Gardening all keenly pursued by those aged 50+.
There are more 50+ dating websites than ever before.
Golden Wedding Anniversary – maybe!
Online activity is on the rise with Facebook seeing a significant growth in users aged 50+.
Plastic Surgery at 80.
Live in a community built around interests and lifestyles rather than age groups.

Silver Opportunities?:
Longer customer life cycles – more valuable customer?
Financial Services and the need to stretch the £ further
10,000 - 100 year old consumers in the UK
Launching new products and services: Travel, FS, Gardening, Health, Residence, Technology
Revisiting the 50+ products already in market – change up to reflect the more tech savvy, longer living, higher quality of life.

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The Silver £ | The Grey Market

by Shannon Eastman on Jun 15, 2010

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