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* The Golden Generation Date Published: 28/11/2008 *
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The Golden Generation  

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The over 50s – a misunderstood market

 
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Attitudes towards older shoppers need to change. The over 50s can no longer be viewed as traditional in their outlook to food and cooking. They are in fact one the most adventurous and experimental groups of shoppers.

They also punch above their weight representing more than half of food and grocery spend. By 2051 there will be as many as 32 million over 50’s – a growth rate of 53%.

Ignore them at your peril!

The over 50s are not one homogenous market. Many are relatively well off and active and are a particularly significant group for the consumer goods industry during a recession. Others are more vulnerable and require a different approach by suppliers and retailers.

Understanding this growing shopper segment is essential to the success of any brand. Knowing who these shoppers are, how they think and identifying what their product and in-store priorities are is vital. How does this very powerful group of shoppers feel about the UK food and grocery industry and what are their expectations? How do you need to change your offer to meet their differing needs?

The Golden Generation is IGD’s time-saving one-stop guide to the older shopper enabling you and your team to identify the real appeal of this key market and the extent to which you are under trading with them.

 
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The Golden Generation will help you to discover:

The differences in attitudes, values and behaviours to food and grocery shopping among the older population

How best the food industry can respond to the diverse needs of older shoppers

The implications of changing shopper behaviour among older shoppers for retailers and manufacturers

How older shoppers trade-off key drivers including value for money, quality, health, environmental and ethical concerns

How to best reach this group through better targeted promotions, communications and new product development

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CHAPTER ONE

Executive Summary

CHAPTER TWO

Research objectives and key questions

  • Research methodology

CHAPTER THREE

Market size

  • Wealth divide

Impact of economic downturn

  • Changes in shopping behaviour

Over 50s outlook on life

CHAPTER FOUR

Defining older shopper groups

Convenience seekers

Traditionalists

Bargain Driven and Uninterested

CHAPTER FIVE

Products for older shoppers

Ethical products

  • Local and regional products
  • Fairtrade products
  • Organic products

Product packaging

  • Products with environmental/reduced packaging
  • Easier to open products
  • Smaller portion sizes

Healthy products

Product labelling

CHAPTER SIX

In-store opportunities

Service at tills/counters

Service - staff available around the store

Service - staff available to pack bags/provide help with shopping

Multi-buys versus price savings

  • Availability of products on promotion

Space in store

Price/promotion signs

In-store navigation

Lower shelves

Seating

Case study: Kaiser's Tengelmann Generation Market

CHAPTER SEVEN

Online shopping

Current online grocery shopping

Online grocery shopping potential growth

Online grocery shopping growth profile

Drivers for increased online grocery shopping

  • Online pricing
  • Online ordering
  • Products delivered online
  • Other drivers
  • Online grocery drivers by current online activity
CHAPTER EIGHT

Advertising and marketing to the over 50s

Advertising requirements by shopper type

Models and personalities used

Advertising using older versus younger people

Advertising using humour

CHAPTER NINE

Future profile of an ageing population

Life expectancy

CHAPTER TEN

Key shopper insights and implications

CHAPTER ELEVEN

Appendix
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