The grannies are grumbling – and who can blame them?

paper bags near wall

Photo by freestocks.org on Pexels.com

Gransnet has just produced a report citing what people over 50 know – but many marketers are still failing to grasp. “Mature” consumers are not one step from the grave and only thinking about recliner chairs, funeral plans and who’s going to get the money when they’re gone.

We over 50s don’t come as an homogenous lump. In reality we’re probably more varied as a generation as any other. We’re interested in what’s on offer, but we don’t blindly follow fashion trends to fit in. Many of us have more disposable income than at any other time in our lives.

And for many of us, we have dropped the responsibilities of caring first for children and then older relatives, and we are free to spend our time and our money where we want to.

All that begs the question, why do we feel so dismissed? According to some of the respondents of the Gransnet survey, it’s because the younger marketers simply don’t understand this market.

Does the healthy living trend include the older population?

Fitness after retirement

 

A recent report from Hitwise has discovered that healthy living in the UK is no longer based on fads or New Year resolutions. Analysis of searches shows that consumers are looking for long-term health gains in diet and exercise. The rise of popularity of fitwear and the rapid evolution of new ways to exercise underline the trend.

But is this just a youth thing or is it reflected in the older population?

Many of the growth activities highlighted by Hitwise are most popular with younger people. Crossfit, marathons and “tough mudder” need the speed, agility and knees of youth. But there is a marked growth amongst the older population for interest in gentler activities such as yoga.

Alongside greater interest in exercise is a change throughout the population in approaches to diet. People are looking for healthy eating that’s also easy – hence the rise of the ingredients box.

Where retailers may be missing a trick is in the exercise wear business. Lines from specialists and the big retailers are doing really well but continue to be focused on the young and slimline. Yet wearing comfortable, fun gear is a positive mood enhancer at any age or size.

Is there a need? Well, coupled with the noted rise in interest across the population for a healthier lifestyle is the continuing progression of advice that older people should keep active. Many of these stories emerge on websites such as the BBC as well as media providers such as the Guardian and the Mail – all popular places to find information. Just last week the BBC carried a story about the importance of moving to maintain the longevity of body cells.

Couple that with the rising average age of the population and wise retailers could open up new markets by focusing more on the older consumer.

Writing about needs and desires of an older population – my top articles for 2016

Writing for older consumers

From retirement to end of life, our needs and desires continue to change.  And for marketing it’s really important to understand what drives older people as a group and as individuals, just as with any sector of the population.

As a student, a commissioning editor, a writer and a participant in supporting older people, I’ve learned a great deal about what’s considered valuable at this time of life.

My top articles on quality of life for an ageing population

Maintaining a great quality of life is paramount, regardless of whether we’re 60 or 99. I’ve written with that in mind and here are my top picks from 2016.

Choosing gifts for older people

  • Gift ideas. Whether it’s Christmas or another special day, choosing presents for older parents and grandparents can be difficult. I’ve always believed that we should choose something that’s luxurious, unusual or fun. Not something that emphasises a person’s age like a walking stick or a pill box might. So I searched out products that I thought would fit the bill and here’s the result. Last year I also looked at tasty food and drink ideas and some lovely presents for Mother’s Day.

Where to live as people age

  • Are retirement apartments the next step? We see them popping up everywhere but for whose benefit? Are they the dream scheme for developers or a really good idea for new retirees? I visited one London scheme to find out more.
  • Choosing a care home. There is plenty of advice on choosing care homes available. What I wanted to do with this article was examine how to get under the skin of a home to understand the commitment to care. These questions are all about things I didn’t know and rather wish I had.

Retailers and older people

What makes life fun in retirement?

Reviewing products and services

  • Tea for two and a night of luxury. In January I was invited to visit the Hilton on Park Lane for afternoon tea and a stay in one of their high-rise rooms. Was it an experience I would recommend for older people looking for an enjoyable weekend? Here’s my review.
  • The emergency smart card. A review of the EIO smartcard that lets you upload all the information that would be useful in an emergency to a secure site that’s accessible to emergency helpers with a smartphone such as contacts, health conditions and medicines. My review has helped EIO improve their service to make it really valuable to anyone who might need help one day.

Real life stories

  • Arranging dad’s funeral. When my dad died in September I suddenly found myself with a huge number of decisions to make just to arrange his funeral. I wrote this blog partly to let him know what we did and why – and also to help others know what they will have to think about.

Need marketing or writing help?

If you’d like to talk to me about communicating successfully with the rapidly growing sector of older people, just drop me a line at kathy@wrightwell.com.

More older people are renting homes – at least temporarily

Renting property in retirement

The notion that older people are blocking the housing market for younger people by sitting in family homes they no longer need is perplexing. Family homes are not what young people want so where’s the problem? Or is it that if they moved out everyone on the ladder could step up a rung and then there’d be room for those starting out?

Whatever the argument, a new report from Saga suggests that actually older people may be actually competing for smaller homes in an unexpected way.

More older people are renting

The survey finds that a third of over 50s are currently living in rented accommodation. That’s up from 25% in 2011. Saga reports that the biggest increase in renters is in the 50-54 age group, and that 20% of renters over 50 are single. And Saga thinks many of them are waiting to get back onto the bottom rung of the housing market.

Why’s that happening? The rise in “silver splitters” is a likely cause. As people live longer they’re continuing to evaluate their happiness into their retirement years and divorce is a more common option. That involves selling the family home and splitting the assets. One family home doesn’t necessarily equate to two smaller properties in the same area, so people are taking their time to decide where and how they are going to invest again, if they can.

Downsizing on a single income

Moving into specially built retirement apartments or villages may not be an option. While these properties range in price dramatically depending on the provider, facilities and location, they are generally not cheap. One apartment could easily eat up the value of an entire family home.

Moving away to save money

Moving to a different part of the country is also often mooted as the answer to unlocking the value of assets. But anyone hoping for a pretty cottage in the Cotswolds or a charming cathedral town will be disappointed, as these have become destinations of choice for retirees. And even last week there was a surge of searches around moving to Scotland, as shocked pro-EU voters wondered if Scotland might leave the UK and rejoin the EU in the next few years.

Competing in the first-home market

All this suggests then that it’s in the small home market that older people may be competing with first-time buyers. If that’s the case, then calling retirees out for holding up the property market by staying in the large family home is a tad unfair.