The 50-Plus Market: Why the Future Is Age-Neutral When It by Dick Stroud

By Dick Stroud

* comprises unique examine performed by means of OMD into the connection among age and client habit

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Today it is exactly six times. In 1994, three in every five first-time buyers came from the 18–30 age group. In the last 10 years, property prices have trebled and now only two in every five first-time buyers are of this age. The conclusion to be drawn from this analysis is that much of the UK’s property assets are owned by the 45+ and that the financial barriers for future generations to join the ranks of property owners will keep rising. Saving for a deposit and paying the mortgage consumes a disproportionally large chunk of income and, like paying for pensions, money spent on housing debt is not spent on consumption.

Understand that our self-image is very different to the reality we confront in the mirror each morning. The classic mistake is to try to appeal to the youthful instinct of older people with the imagery, language and humour of the young. Marketers are only human We live in a world that places an irrational value on the new, the young and all things modern. Equally, things that are old, the old and the past are devalued. It hasn’t always been this way and may change in the future, but today that’s the way it is.

The top 1 per cent of this group owns more wealth than the whole of the bottom 80 per cent. In each year of the survey – from 1989 to 2001 – the inequality gap widened. 12 Reasons for men aged 55–59 not working in relation to wealth Source: Pensions Commission, 2004 The message for marketers is blindingly simple: some retired people, and those near to retiring, are going to have a lot of spending power. A lot more in this age group, however, will have very little – a trend that will become more pronounced in the future.

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