Wednesday, August 12, 2009

Segment, segment and then segment some more

As if we needed any more information to support the need for companies to thoroughly segment the older market is the research from Barings showing the impact of the fall in house prices on their pension prospects.

Let's restate my usual caveat that research showing people need to save more money, coming from a company that provides saving services, has to be viewed with caution. Barings reckons that £29bn has been wiped from pension pots this year of those approaching retirement. This broke down by age:
25% of older people are aged between 55 and 64, and a 7% are aged 65-plus.

11% of those in the East Midlands are more like to rely on homes to fund retirement while Londoners are the least likely (5%).
Forget the absolute numbers. What the research shows is that the UK's fragmention, into a country of the wealthy and poor old people, will accelerate. Just make sure your company is targeting the winners. Dick Stroud

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