Report: Over 50s

Top Brands

What food brands/shops do you trust to be value for money?

Respondents prefer buy what is available rather than by brand, preferring fresh produce to branded goods.
Health is very important to this demographic and they check the back of labels rather than just the front.
Over 50s tend to buy by studying the back not the front of labels.

How important is the healthiness of the food brands you buy?
Health is paramount and respondents try to buy organic if they can.
They will check labels for levels of salt and sugar and steer away from prepared meals, choosing fresh fruit & vegetables instead.
High cholesterol and type two diabetes are common and respondents have to check food labels and eat accordingly.
A prevalent trend was scepticism towards food manufacturers; respondents have no trust in food companies, believing they tell ‘fibs’ about the contents of their food, so trust is a big issue.

What clothing brands do you buy?
The Over 50s are not brand specific when it comes to clothes and are limited by size. Finding clothes that fit is a problem for both men and women in this demographic.
Purchases are often determined by price and quality and M & S and Jaeger are clear favourites because of the choice and value of money they offer.

Are there any brands you won’t buy?
Respondents will not buy a number of brands for political and social reasons.
Objections include foreign policy, sweatshops and animal cruelty,
They are suspicious of brands that are ‘too cheap’ and many will not buy brands with connections to low wages. Buying locally and avoiding imports also deters respondents from some brands.

Which is the first store you go to for new electrical products?
Curries is the top name because of the wide selection and choice on offer. However respondents do like to shop around and check the internet first to get a good price and many are put off by stores that charge for delivery and will shop locally to avoid these charges.

Do you buy more branded or supermarket own brands?
The findings reveal that over 50s buy slightly more branded goods. The reasons for this include the difference in taste, the superior quality and habit, though many were aware that supermarket brands are often the same standard, made by the same people.

Finance

How do you feel about your money situation in the future?
Many of the respondents feel comfortable, being lucky enough to have paid off the mortgage, enabling them a good lifestyle.
Those on state pensions felt they were too small and were affected by inflation, gas prices and interest rates.

Will you use the value of your property to help pay for retirement?
Over 50s weren’t keen to take equity from their homes, preferring to downsize to a smaller property and using the difference. Passing property over to escape inheritance tax was an option many consider.

Who do you bank with? What do you think about their services?
Respondents, though sometimes unhappy stayed loyal to their bank, many have being with the same company for more than 40 years.
Improvements suggested include more staff in store, long opening hours and a ban on outbound call centres.
Service could also be improved by a restriction on the amount of extra services that are pushed at the counter, from mortgages to insurance, respondents are sick of it and would prefer advice rather than products.

How do you like to spend your money?
The Over 50s like to spend their extra cash on the family and going on holiday.
They are also help to splash out for more expensive high-end food and entertainment including the theatre.

What are your views on companies who supply pensions and saving schemes?
There is a considerable amount of distrust towards pension schemes, many had been mis sold, received bad advice and lost money. Big names and companies with a established reputation are more likely to be used.

If you won £1000 how would you spend it?
The most popular answer to spend the money on a holiday, closely followed sharing it with the family, either in savings or taking them for a nice meal.

Media & Technology

Do you feel that keeping up to date with new products or are you being left behind?
Most are able to keep up with the basics like the internet and emails but think there are too many gadgets which they lose track with. Offspring offer support and help keep them up to date or resolve technical problems.

What websites do you visit? Why?
Google is the starting point for the majority, who then use the web to conduct banking, keep up to date with news and sport and book holidays and flights.

What television programmes do you enjoy and why?
Wildlife shows are popular, as are soaps because they reflect real life issues. Many admit to watching reality shows like Big Brother and Love Island. Rugby is one of the top sports shows viewed and repeats like Only Fools & Horses is also a favourite.

What radio station do you listen to?
Radio Four was the clear winner due to its interesting and extensive features. Respondents felt the station taught them new things.
Magic and Virgin radio have the best music because they play both up to date and older tunes.

Have or will you be buying digital TV? Why? Has it lived up to your expectations?
Respondents were pleased with the picture quality that digital offers but thought the content and programmes was average, with too many repeats and shopping channels.
HDTV is more eagerly awaited.

What is the next gadget/electrical product you will be buying?
Updating the television is the next big purchase for this age group with many wanting to upgrade to HDTV.

Retail

Which high street shops do you visit the most? Why do they appeal to you?
The top shops were Marks & Spencers and Debenhams because of the range of products on offer, the quality and particularly for Debenhams , the convenience of having lots of different brands under one roof and being able to shop for the grandchildren at the same time.
Other stores mentioned include Next, John Lewis and Woolworths.

Are there any stores that you don’t visit?
Respondents didn’t really name particular stores but avoided any shops that were too expensive or that don’t cater for their age group or size.

Do you use the internet to research before you buy? What do you buy online?
The most common online purchases are holidays and flights. Many respondents were still concerned about fraud and do not like entering personal and card details.
Respondents do consult the internet for price comparisons before buying larger items or for checking product ranges.

What could shops that do don’t normally visit do to make you go inside?
Having a good sale or a good window display that shows clothes for different age groups could entice this demographic into new shops.

Where do you shop for food? Why?
Respondents like M&S for treats and luxury food and Waitrose for its space, quality and reliability. Convenience means many shop at Tesco and Sainsburys.

Work

What do you enjoy doing in your leisure time?
Golf is a popular pastime, as is reading, walking, gardening and eating out.

Where do you like to go on holiday? How often do you go?
Top destinations are Spain, South England and Canada. But respondents also enjoy long haul destinations from the Far East to Australia.
The majority go away twice a year.

What do you do to try and stay healthy?
Eating a balance diet is the main thing people in this age group do stay healthy. Top types of exercise including walking and swimming and is preferable to the gym.

How have planned for retirement/ did you plan for retirement?
Many plan to continue working past retirement age in order to stay active. Respondents are also considering working part time or getting involved in voluntary or charity work.

Do you intend to move home when you retire?
Quite a few are thinking or emigrating for better weather and to escape from Tony Blair
Others believe they will downsize to free up money for living and the family.

 

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