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OLDER,
WISER AND WITH THE FUNDS TO BE SELECTIVE = THE GREY MARKET
HOW IMPORTANT
ARE THEY?
The grey market (those aged over 50) continues to grow
within the UK and yet it remains largely untapped,
untargeted and
for the most part ignored.
- Over 50’s
are the fastest growing age group in the UK.
- There are
20m over 50’s
in the UK who account for 33% of the population.
- In 20 years time the over 50’s
will account for 44% of the UK population.
- Over 50’s
account for 80% of private wealth and a massive 50% of
all retail spend.
WHAT
INTERESTS THEM?
As their children begin to leave home the over
50’s
have more time and money to focus on themselves.
They look more to hobbies, holidays, gardening,
charity work and further
education.
- They focus on well-being and health,
and show keen interest in foods that are low
fat, low
caffeine, low cholesterol
etc.
- They make more considered purchases
as they have time to read the labels, to study
the
brochure and read the
advertisements
in the press.
- Smaller pack sizes; packages that
represent a reasonable purchase for 2 people rather
than a
family of 4.
OFFERING THEM WHAT THEY WANT
They are interested in:
- added value packs: things which taste
good and for which they are prepared
to pay a
little extra.
- advertisements which are informative
and clever.
- information on pack or in-pack:
they have time to read your
message and
are interested
in what
your company
represents.
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