Germany Lifestyles of the Over-65s Consumer Report 2023

Stay ahead of the curve and future-proof your business with Mintel’s consumer study of senior Germany 2023. Our full report is packed with consumer-led market intelligence, consumer trends, and behaviours affecting your industry. Get a 360° view of the lifestyles of over 65-year-olds in Germany, including a growth forecast to help you align your business strategy with the needs of your audience.

Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.

Topics Analysed in this Report

• Over-65-year-olds overall satisfaction with life and their priorities for the next five years.
• Preferred ways to carry out selected activities, e.g. grocery shopping or managing finances off- vs online.
• Elderly consumer behaviour, e.g. the desire to try something new in the next 12 months and the role of new media in their everyday life.
• How over-65-year-olds describe themselves and how this compares with their impression of other people in their age group.

An Overview of Lifestyles of Over 65-Year-Olds in Germany

High inflation is taking a toll on the budgets of over-65-year-olds and the risk of old-age poverty presents a pressing issue in Germany, affecting society and brands alike. Due to high inflation rates, some pensioners even no longer have enough money to live on, and the number of working people in retirement age has recently risen.

Brands are encouraged to continue supporting consumers during the cost-of-living crisis and to target older consumers with initiatives like happy hour shopping.

Elderly Consumer Behaviour in Germany: What Consumers Want and Why

• Elderly Consumer Behaviour: Many consumers in this target group live off a fixed income from their pension pots, resulting in typically prudent spending behaviour. However, 78% of over-65s plan to take care of their physical health in the next five years, while others intend to make spending time with family and friends their top priority. This may cause them to spend money on products and services that support them in pursuing these priorities, for example nutritional support and family vacations.
• Over-65s Online: While the majority of older Germans are online, only a minority of Germans aged 65+ describe themselves as tech-savvy, yet 95% of Germans aged 60 to 69 used the internet in 2022. Brands need to take this into account and make it easier and more secure for older, less tech-savvy Germans to manage services online, as it is evident that they are using the advantages of online services.

A Consumer Study of Senior Germany – Market Opportunities

• Brands can capitalise on this growing consumer segment with support for well-ageing, and products and services tailored to the lifestyles of over-65-year-olds.
  Beyond that, brands that embrace the importance of family networks into their offerings can reach these consumers effectively, for example through designated referral programs for family members.

To learn how to connect with your audience, purchase our Germany Lifestyles of Over-65s Market Report 2023 in full. Reveal lucrative innovation opportunities to help your business grow during times of financial uncertainty.

Products and Brands Discussed in this Report

Brands: Uber, Tchibo, Intrepid Travel, Lidl, Peloton, YouTube, Facebook, Instagram, TikTok, Pinterest, Rotkäppchen, AMH, C&A, IKEA, GLOBUS, Sparkasse, Paysafecard, Sony, Lambus, GetYourGuide, Balanced, Volkswagen, BMW, Bosch, Vodafone, Telekom, and many more.

Products: Homeware, furniture, holidays/vacations, entertainment (concerts, sporting events, theatre), foodservice, health products/services, smartphones and other communication devices, apps, food and drink, DIY products, clothing, financial services, automotive, and many more.

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Expert Insights on Elderly Consumer Behaviour in Germany

This report, written by Dr. Jennifer Hendricks, Senior Analyst, delivers in-depth commentary and analysis to highlight consumer trends of over-65s in Germany and add expert context to the numbers.

Our consumer study of senior Germany shows that health and spending time with family and friends are top of mind for over-65-year-olds. Brands that support a holistic approach to well-ageing, such as promoting an active lifestyle, will resonate with this consumer group.

Dr. Jennifer Hendricks
Senior Analyst – Consumer Lifestyles, Germany