The UK Lifestyles of the Over -65s Market Report examines over 65s optimism for the future and approach to post-pandemic life, lifestyle priorities for the over 65s and factors that influence over 65s product choices when shopping. This report covers the ageing population trends in the UK, factors influencing the lifestyles of the over 65s and expert analysis from leading researchers.
Mintel’s lifestyles of the over-65s market report outlines how attitudes towards post-pandemic life are polarised among over-65s. While some struggle to recover from the major disruption, others have been spurred on by a renewed appreciation for life and a desire to seek more enjoyment. Indeed, 51% want to try something new in the next 12 months.
Rising costs will undoubtedly lead to an adjustment to the spending and lifestyles of the over 65s. Fortunately, over-65s are likely to be more in tune with increases to their outgoings, with many living off a fixed income from their pensions pot. However, it will be challenging for brands to persuade some seniors to spend their cash above what is essential.
The pandemic has caused some seniors in the UK to drop habits, such as exercising or leisure activities, and many are now finding it hard to pick up old behaviours. For many, a level of anxiety about catching the virus and getting seriously ill still persists, signalling a need for out-of-home venues to continue to reassure customers about hygiene and safety protocols.
Mintel’s lifestyles of the over 65s market report reveals that there is a significant pent-up demand for out-of-home experiences and travel desire among seniors in the UK. This opens up significant opportunities, particularly for brands within the travel sector, to help over-65s live out their retirement years fully by providing once-in-a-lifetime experiences and holidays specifically for seniors.
Unfortunately, the experience of retirement is largely dependent on your financial situation, and attitudes towards post-pandemic life is another area where we will continue to see wide inequalities among seniors.
To discover more about the UK Lifestyles of the Over -65s Market Report 2022, read our UK British Lifestyles Market Report 2022, or take a look at our Consumer Lifestyles Market Research Reports.
Brands: Saga Holidays, Better Health, Odeon, Empire, British Airways, Sainsbury’s, Lloyds, The Body Shop,
This report, written by Francesca Smith, a leading analyst in the consumer lifestyle sector, delivers in-depth commentary and analysis to highlight current trends influencing the lifestyles of the over 65s and add expert context to the numbers.
Seniors in the UK are living longer and their relatively stronger financial positions mean they are an increasingly important consumer group for brands to understand and service. This is particularly important amid the cost-of-living crisis, with older consumers with stable finances best placed to absorb price rises. Around half of over-65s say the pandemic has created a desire to seek more fun and new experiences. This presents a significant opportunity for brands, particularly across leisure and travel, to tap into pent-up demand and provide once-in-a-lifetime experiences.”
Francesca Smith
Consumer Lifestyle Research Analyst
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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