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Viewing report
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The Singles Market Market Assessment
Key Note Publications Ltd, Jan 2000
A total of 37% of the adult population falls into a broad `single' category, which includes those separated, widowed or divorced. When singles who have not been married are considered as a distinct group, they comprise some 22% of the total population. There is a pronounced youth bias in this category, as the majority of those in their 20s have never been married. Around 68% of all those who are single are under the age of 35.
The age bias in the profile of singles has implications for various markets, not least because population fluctuations are reshaping the size of this demographic group. Although numbers in the 16-35 group will rise between 1999 and 2003, the overall trend is showing a decline. Numbers in this age group will fall by an estimated average 10.5% between 1990 and 2003 as a result of falling birth rates. The older `youth' markets will become more important as the 35-44 age group grows by an average of 19% between 1999 and 2004.
Men's tendency to delay marriage and women's trend to marriage with older men, means that the profile of the young singles' market is overwhelmingly male. Market Assessment research shows that there are 7.9 million single men under the age of 45 living in the UK and 5.5 million single women. Single men, therefore, outnumber single women among those aged under 45 by 44%.
The number of single households provides a more accurate source of numbers of single people. Singles may be cohabiting or living with other people in shared households. According to government sources, the number of single households now comprises some 30% of the total. This proportion is set to rise to 36% by 2016. Around half of all single person households are occupied by those over 65. However, this proportion has fallen from two-thirds in 1971, as increasing numbers choose not to marry or divorce.
Delayed marriage is the principal cause of the increase in the number of single households. Market Assessment research shows a rise in interest in buying property in this group. Levels of home ownership among single men and women have risen by five percentage points between 1994 and 1998. High prices in the property market represent a growing challenge to young singles who wish to get on the property ladder. New rent/buy options are emerging in urban centres to facilitate singles' property purchase. High prices are also forecast to accelerate singles' rates of saving.
The rapidly expanding job market is creating new opportunities for singles in the job market. Women are achieving near parity with men in this group, in terms of qualifications and earning - although this status alters as women marry and have families.
Fewer family responsibilities means singles still maintain higher levels of disposable income. The average non-retired single person living alone spends just over £239 per week - around £20 per person more than those living in two-adult households. Singles spend more on food and alcohol than any other household group. Higher levels of socialising mean singles spend more of their income on leisure than married couples. Singles currently spend £27.10 on leisure services.
Singles value their home surroundings but are not as inclined to make expensive purchases for their homes. The 1998 General Household Survey shows that single adults under 60 living alone are less likely than average to own a range of household appliances, with the exception of CD equipment. However, Market Assessment's consumer research conducted for this report shows a marked increase in interest in singles' home surroundings. Three-quarters of singles interviewed in the 1996 survey agreed that their home surroundings were important and that they enjoyed making where they lived look nice. In 2000, some 93% of respondents agreed with this statement. Perhaps surprisingly, single men are now more likely to value their home surroundings more highly than women. This trend can be attributed to the media-led interest in home and lifestyle, as well as a `domestication' of male taste.
Singles' busy leisure-driven lifestyles mean that shopping is often a low-priority activity. They are less likely to be satisfied by their supermarket than those who are married and more likely to prefer convenience formats and more innovative shopping methods. Around 15% of singles expressed a preference for electronic supermarket shopping, compared with 12% of the married sample. Late shopping and easy availability are important issues. Some 65% of single respondents often shop for food in the evenings and/or on Sundays. However, there is a marked difference in shopping patterns between the sexes, with the men's rating of 72% exceeding the response from women of 56%.
Our research also shows major differences in singles' criteria for purchasing financial products. Purchase is often led by life events such as births and marriages. Without these incentives, singles, and women in particular, are inclined to defer major decision-making on financial issues. Our research shows that:
Only 29% of singles have bought a new financial product in the last year. This compares with a purchase rate of 37% among those who are married.
Singles maintain a positive view of their financial well-being, and are marginally more inclined to save money than was the case in 1996. Although levels of pension ownership have increased, only 1 in 2 of single people under the age of 45 believes that they have adequate pension cover. Again, gender differences apply: women (42%) are far less happy with their cover than men (57%).
Singles' views of their own lifestyle are complex. Only one in two respondents agreed that the single lifestyle had more disadvantages than advantages. Our research shows that levels of satisfaction are greatly conditioned by earnings status. Some 59% of those in the AB group believed that being single conferred more advantages than disadvantages, compared with 47% of those in the C2 group. Entertainment and leisure are vital parts of the single lifestyle, as a means to connect socially as well as to relax. Singles are more inclined to entertain at home. Some 68% of adult singles entertain at least once a month, compared with 58% of married couples and 51% of the widowed and divorced. They are also more enthusiatic pub-goers. Around 87% of the group go to pubs or clubs at least once a month.
Market Assessment's analysis of the holiday market shows that the number of holidays taken abroad by young singles is rising faster than average growth in the market. An estimated 8.8 million holidays will be taken by young singles in 2000, a figure which represents 25% of the total. However, singles are not as enthusiastic holiday-makers as, for example, more affluent empty-nesters. The 18-24 group is the most influential in the singles holiday market and lower levels of disposable income are seeing lower levels of growth in this sector.
Market Assessment has reviewed the gay and lesbian market for this report as this predominantly urban group is a trendsetter in many key areas. Although difficulties remain in assessing the exact extent and size of the gay market, a critical mass of statistics is emerging to suggest that there are just under a million lesbian and gay people in the country, with average earnings of £19K and an average disposable income of £8,315 per annum.
There is a predominantly urban bias to the gay population - at a conservative estimate, around 5% of the London population is gay or lesbian. The Pink Pound has gathered strength according to Market Assessment's 1998 report on the subject. There are now an estimated 1,500 new gay and gay-friendly businesses listed in the current edition of the GAYtoZ Directory, which advertises businesses targeting the gay community and offers a wide range of products and services. Another measure of the confidence and the significance of the gay market is the planned opening of a gay village in Newcastle-upon-Tyne to rival Manchester's Canal Street.
Market Assessment research also shows that gay spending on leisure and particularly holidays, is rapidly expanding. According to survey data published by the National Gay and Lesbian Travel Association, gay men take an average of four to six holidays a year. This is corroborated by growth figures of Man Around, the largest operator specialising in package holidays for gay men. Since 1992, the company has enjoyed a 25% year-on-year growth in earnings.
Developments in the advertising and marketing industries illustrate broader difficulties of identifying and successfully targeting young singles. As media channels diversify, it has become less straightforward to reach an increasingly diverse community. Outdoor and big event marketing as well as tube campaigns are proving effective in reaching a more mobile group that is less likely to watch terrestrial TV. Working status is now a key defining factor in marketer's calculations. The increased numbers of working women in particular, and the increased importance of work culturally, have led to a number of products aimed solely at working women.
The rising number of single households represents obvious opportunities for household and white goods suppliers, although many of these goods will need to be adapted to encourage purchase for smaller homes. Market Assessment forecasts that far greater market segmentation will need to be carried out if the singles' market is to be successfully targeted. These include recognition of key demographic factors: the overwhelmingly `male' character of older singles and the increasingly low levels of personal disposable income (PDI) of the 18-24 market. The growing numbers in the more affluent 35-44 group will provide a demand for specialised goods and services that cater for the busy single professional. These include domestic services, as well as Internet shopping. The greatest market opportunities, however, exist in services aimed at single women under 45 whose numbers will grow in the next five years.
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