Sunday, July 26, 2009

Wealthy elderly turn backs on seaside havens

Richard Webber wrote the section of my book that dealt with geodemographics. He was the man behind the development of Experian’s Mosaic segmentation database. Want to know anything about geodemographics then ask Richard.

This Sunday he is quoted in an article in the Observer about the development of new segmentation categories for the older age groups.

For decades, many of Britain's coastal towns have been synonymous with retirement. But according to an analysis of demographic data, many of today's wealthier pensioners are turning their backs on traditional retirement destinations and moving into upmarket towns and cities in some of the UK's most sought-after inland locations - such as in the Cotswolds, and parts of Hampshire and Kent.

As a result, Experian has identified five new types of retiree.

This group reflects the growing trend for the middle-class retired to select smaller communities, many on the coast or a river, rather than larger resorts. Popular destinations: Barnstaple, Newport (Isle of Wight), Carmarthen, Inverness, Kendal, Newton Abbot.

Balcony downsizers
Higher-status retired people in their 70s and 80s, who live in privately owned or leasehold apartments in purpose-built blocks of flats suitable for those too fragile to cope with the upkeep of houses and gardens. Popular destinations: Worthing, Boscombe, Edinburgh, Southend-on-Sea, Barnet, Kingston upon Thames.

Golden retirement
People with accumulated assets, who pick prestigious retirement communities. They lead busy social lives, drive and garden. Popular destinations: Exeter, Southampton, Poole, Chichester, Norwich, Canterbury and Ipswich.

Bungalow quietude
Retirees with modest pensions, living in older-style bungalows, often in less well-off areas unattractive to younger families. Popular destinations: Blackpool, Rhyl, Scarborough, Plymouth, Nottingham, Peterborough, Newcastle upon Tyne, Lincoln, Leicester.

Country-loving elders
People on comfortable incomes living in former farms or older-style properties in quiet villages and market towns. Popular destinations: Truro, King's Lynn, Hereford, Carlisle, Shrewsbury.

Interesting stuff. Dick Stroud

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