The document discusses key insights about the over-50s market in the UK. It notes that there are 19 million people over 50 in the UK who account for 80% of personal wealth. While this group is not monolithic, many over-50s want to remain active in retirement through work, travel, and spending time with family. Marketers need to understand that this audience values quality and experiences over low prices alone. The document provides tips on understanding and appealing to different age segments within the over-50s demographic.

1. “ Growing old is compulsory, growing up is optional” An hour exploring the over 50’s market Sir Bob Monkhouse

4. 1. THEY ARE MORE THAN JUST ONE GROUP

5. Over 50, over 65, over 75…

6. Roger The baby boomers, born between 1941-1955, aged 50-65. Roger is an active member of the workforce and expects to be so for atleast another 10 years, a Property Surveyor with a higher salary than he’s ever had at the same time as his lowest mortgage ever. He is email, mobile and web literate – both at home and work. It’s just a key part of his life now. Roger and his wife are active people, with the freedom that having older children gives you, enjoy eating out, travel, theatre etc. I’m not interested in pipe and slippers, more like snorkels and trainers Roger, 52 years old with 2 children. One aged 19, one 16. The elder child has left the nest to go to University, the 2nd one isn’t far behind! Roger and his wife, a teacher are about to get their spare time back, but 2 children at Uni might not give them more disposable income…(for now).

7. Peter Young war children, born between 1931-1941, aged 65-75. to relax, play Golf and see more of the grandchildren and then may decide to do some consultancy work 1-2 days a week. They have no mortgage, and outgoings are few and far between (apart from presents for the grandchildren!). Peter and his wife are aware and have embraced new technology (although they struggle with it a little..), from the digital camera to email to keep in touch with their eldest son in Australia. Peter, 66 is married with 3 adult children aged between 38 and 45 whom they see often along with their four grandchildren. Peter has recently retired from his accounting job but his wife works part-time in the local florists – to keep active. Peter wants to take a year or so There’s plenty of gas left in the tank

8. Sidney God’s waiting room, born between 1920-1930, aged 75+ Sidney, 80 is recently widowed and lives on his own in a small bungalow close to his family. The majority of his time is spent at home and in the garden. His children visit him when they can to keep him company, and he gets great pleasure in seeing his grandchildren grow up, despite not seeing them often. He served in the armed forces and is now affected by physical problems despite being relatively active in the mind. Feels a little out of touch with today’s society and is reluctant to new developments and technology. He has a mobile phone, but it isn’t used for everyday use, merely for emergencies. Sidney has built up enough of an estate through savings and property to qualify for inheritance tax. This is the last time that retirement will look like this.

10. 2. ATTITUDE BRINGS EVEN GREATER INSIGHT

11. These famous men are the same age!

12. 3. IT’S WHERE THE MONEY IS

13. Never assume who your customers are!

15. 4. IT IS NOT A DYING MARKET

17. “ Growing old today involves a whole new effort: trying to stay young. And many of today's over-50s have the money to spend on it. Market Research company Mintel estimates that the 50-plus generation will grow by more than 6 million in the next 25 years. Consumer spending among the UK's 50-to-69-year-olds currently runs at £300bn a year, and we buy more designer fashion, premium cars, and other expensive goods than any other group. Hard to believe, isn't it?”

19. 5. YOU CAN’T TAKE IT WITH YOU

21. 6. THERE IS A STRONG DESIRE TO REMAIN ACTIVE

24. 7. I KNOW I’M OVER 50, THANKS

27. Remember where I’ve come from… born 1956

28. 8. BOOMERS ARE SHAPING RETIREMENT, NOT ACCEPTING IT

29. “ My father at 65 was an old man. I’m much older than that now but I’m not an old man. I don’t think the same way, or behave as he did and I don’t have any intention of behaving as he did. Marketing hasn’t caught up. We’re not decrepit and crippled” Male 66-75, Manchester

31. 9. IT’S ABOUT VALUE, NOT PRICE

33. 10. THEY ARE ACTIVELY EMBRACING TECHNOLOGY (WELL, MOST OF THEM)

34. “ I love playing poker and bingo online with people all over the world. I find websites are a great way to meet new friends. My grandchildren call me ‘cybergran’!” Elizabeth Sheridan 73, Bradford