Tuesday, June 09, 2009

Insights into the recession’s effect on older consumers

There has been little detailed research done into the impact of the recession on the UK’s over-50s. I decided that it was time to do something about this and joined with Mature Marketing to undertake a survey of over 1,600 older people, using Mature Time’s national newspaper and web site.

I reckon this is most current and thorough research on the subject.

The results are fascinating. Here are a few factlets to whet your appetite.
Over 25% say the recession has had little or no effect with a third reporting that they have not changed their spending patterns.

Over 60% say the recession has resulted in them only making a few cutbacks in their expenditure.

Despite older people holding 80% of savings and investment assets in the UK, the fall in interest rates has seriously affected only 20% of respondents.

Not all of the news is so positive - 12% have cut back drastically on spending.

The banks and the Labour Government are blamed for the economic problems resulting in a significant swing to the Conservatives and minority parties.

The 50-plus are giving far more financial support to their families than they are receiving.

Charitable donations have been badly, and I mean badly, hit by the recession.
If you want to read the detail then all you need to do is download the report. What could be simpler than that? If you would like a PowerPoint version then send me an e-mail.

All I ask in return is that if you use the results that you attribute the research to 20plus30 and Mature Marketing. Dick Stroud

1 comment:

Chris Gosling said...

An excellent report which should be compulsory reading for the marketing people who haven't caught on yet!