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Grey Consumer Market Assessment 2006
Key Note Publications Ltd, June 2006, Pages: 130
This new report, focusing on the Grey Consumer Market, was published first in 2004.
It is well known that the UK, like most other developed countries, is experiencing the phenomenon of an ageing population. This is due to a combination of factors including rising life expectancy and a falling birth rate — and in the UK in particular the effects of the post-war `Baby Boom' are also being felt, as the `population bulge' which was created after the Second World War enters the older lifestage.
This state of affairs creates both problems and opportunities. In the area of public policy, there have been concerns expressed that the working population may not be able to produce sufficient funds to support the growing retired population; and there may also be increased pressures on health and social services.
However, today's `grey market' is characterised by consumers that are healthier, more active, and younger in outlook than their counterparts a generation ago, and as such there are many opportunities for marketers and advertisers who take the trouble to find out what drives this group.
This report contains consumer research findings focusing on this age group, and taken from a variety of sources, including government surveys, the Target Group Index from BMRB, and other previously commissioned research.
It also presents findings from exclusive consumer research from IRN Research, and carried out by NEMS Market Research, which examines the spending habits of 1,003 adults, including 631 aged over 45.
Definition:
For the purposes of this report, Grey Consumers are defined as all adults over the age of 45, and the analysis of the original consumer research has been conducted on this basis. However, some other sources used in the report — for example, government research such as the annual Family Spending Survey — divide consumers at the age of 50.
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