We all know that PR research, like that done by Prudential, is likely to result in the conclusion that we should save/invest more. This research needs to be handled with care but it often does include useful insights into what is happening in the 50-plus market.
Prudential has released two press releases (one two) highlighting different implications from the financial plight of many older people. I think these two tables say it all.
For years I have been arguing that companies should pay more attention to the older consumer and now I seem to spend a lot of my time spelling out reasons why so many of this age group will have (are having) financial problems.
Relative to other age groups many of these consumers are doing brilliantly, however, let’s keep our feet on the floor and deal in reality rather than get carried away with nonsense that is talked by politicians and journalists.
Marketers cannot afford to ignore the huge convulsions that are taking place to the UK’s ownership of wealth and how, when, where and by whom it will be translated into income. Dick Stroud
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