Life begins at 50 - a longer term view

Dick Stroud examines the UK's growing grey market and how the 'charmed generation' - the wealthiest 25% of the UK’s population of 11 million older people - have been affected by the financial crisis.

Despite the collapse in interest rates, decline in property prices and surge in energy prices, he finds the 50-plus age group still largely optimistic about their spending habits and lifestyle. They are, however, pessimistic about the financial prospects for their children and grandchildren.

Stroud uses Mintel data to explore what the over-50s think are the best and worst aspects of ageing, and to analyse which lifestyle and buying behaviours have changed and which have remained constant.

In the light of these changes, Stroud challenges marketers of products and services to this target audience to review their data segmentation of this age group. He also considers the physiological aspects of the ageing process and urges designers and marketers to reflect it in their product and packaging design and store layout.