Insights into the recession’s effect on older consumers

Marketing consultancy 20plus30 surveyed 1,600 readers of Mature Marketing, its 50-plus target audience, to gain insights into their attitudes to the recession and its impact on their lifestyle and spending habits. Findings show that this group is proving to be remarkably resilient.

Key insights include:

• More than 25% said the recession has had little or no effect on how they spend their money. 

• A third of respondents reported no change in their spending habits.

• Over 60% said the recession had resulted in them making only a few cutbacks in their expediture.

• Although older people hold 80% of savings and investment in the UK, the fall in interest rates has seriously affected only 20% of respondents.

• Some over-50s have been affected by the recession, with 12% cutting back drastically on spending.