Are the UK’s more mature customers actually the most diverse and savvy?

In the UK, over 50s make-up more than 35% of the population and by 2020 the total number of people over 50 is set to reach 25.5 million. 

The over 50s have the highest disposable income of any age group. In fact, KPMG estimate that over the next ten years, two thirds of retail spending growth will come from shoppers aged 55 plus.

Today, more than 11 million people in the UK are now aged over 65, which represents some 17.1% of the total population. And, this trend is set to continue with estimates showing that by 2050, there will be more than 19 million over 65s.

Just like when marketing to Millenials, great care should be taken not to group the more mature audience into one, and beware if you think that they are not digitally savvy, they are.

It is clear that this new generation of mature customers behave very differently to generations that came before, summarised beautifully by the fact that 40% of over 70s don’t consider themselves as old!

Our friends at Consumer PR agency Escapade undertook some research into this growing audience. Take a look at its infographic for some fascinating insight into the behaviours, lives and opinions of this diverse and savvy group.

 

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Gareth Hargreaves's picture

Gareth is Director of Content across the group and is obsessed with the fast evolving older market space, the opportunities it presents and the people within it.

He has spent the past decade working in the online space in areas associated with ageing, and will tell anyone willing to listen why older consumers are too important a market to be ignored.


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