Fear of Aging 2003

SUMMARY

INTRODUCTION

Fear of aging examines how significant life stages affect consumers, covering worries over finances, health, loss of attractiveness, the inabilityto cope with new challenges and consumer responses to new lifestyle needs. By knowing what events cause consumers to change habits, manufacturers andretailers can target consumers who are developing new and long-lasting purchasing patterns.

SCOPE OF THE REPORT

• Key data and detailed analysis of age-driven spending for the U.S. and 7 European markets: France, Germany, Italy, Netherlands, Spain, Sweden,U.K.
• Detailed analysis of the life events that affect consumers and their implications for consumer behavior and purchasing habits
• Findings from U.S. & European surveys regarding consumer attitudes to aging
• Actionable recommendations for attracting key consumer groups just as they are looking for new lifestyle solutions

REPORT HIGHLIGHTS

Fear of aging is most common among twenty-somethings (18-29 year olds) and mid-lifers (35-49 year olds)

Fear of aging encompasses fears regardingfinancial insecurity, mental and physical deterioration, loss of attractiveness and the inability to cope with new challenges. Financial insecurity isthe largest age-related fear, followed by physical and mental deterioration.

Younger consumers are much more anxious about future milestones thanolder consumers. Fifty two percent are worried about being older, while only 31% of older consumers are worried about being older.

KEY REASONS TO BUY THIS REPORT

• Understand consumer attitudes to aging and target consumers based on significant life-events, not generic assumptions about age
• Build market share and brand loyalty by targeting consumers ready for change
• Improve the relevance of marketing through appreciation of consumer needs

TABLE OF CONTENTS

CHAPTER 1 EXECUTIVE SUMMARY

• Hot topic
• The future decoded
• Action points

CHAPTER 2 THE FUTURE DECODED

• Introduction
• Key findings
• The growing importance of fear of aging
• Catalysts for fear of aging
• Twenty-somethings: prepare for take-off
• Mid-lifers: hoping for a smooth landing
• Consumers and fear of aging
• Financial fear
• Physical/mental fitness
• Loss of attractiveness
• Inability to cope with new situations
• Summary of specific fears about aging
• The effect of fear of aging on spending patterns
• Forecasts
• Personal care
• Drinks
• Food
• Conclusions
• Twenty-somethings
• Mid-lifers

CHAPTER 3 ACTION POINTS

• Introduction
• Tailor marketing to consumer life-stages
• Twenty-somethings
• Mid-lifers and older consumers
• Target consumers before key lifestage arrives
• Create and highlight an emotional bond between consumer and product
• Product regimes
• Emotional value vs. practical value
• Help consumers cope with stress
• Assisting convenience needs
• Satisfying de-stressing needs
• Project the product as an indulgence
• Provide solutions for age-specific challenges
• Twenty-somethings
• Mid-lifers

CHAPTER 4 APPENDIX

• Definitions
• Research methodology
• SPP writing team
• How to contact experts in your industry

List of Tables

Table 1: Number of twenty-somethings (20-29 year olds), by country, (m), 1997-2007

Table 2: Number of mid-lifers (35-49 year olds), by country, (m), 1997-2007

Table 3: Students aged over 15, by country, (m), 1997-2007

Table 4: Students as a percentage of 15-29 year-olds, (%), 1997-2007

Table 5: Career starters, 15-29 year olds, (m), 1997-2007

Table 6: First home buyers, by country, (m), 1997- 2007

Table 7: First home buyers as a percentage of 20-29 year-olds, by country, (%), 1997-2007

Table 8: Menopausal women, by country, (m), 1997-2007

Table 9: Andropause sufferers, by country, (m), 1997-2007

Table 10: Empty nesters, by country, (m), 1997-2007

Table 11: Retirees, by country, (m), 1997-2007

Table 12: Age-driven spending, by market sector, ($m), 1997-2007

Table 13: Age-driven spending by country, ($m), 1997-2007

Table 14: Per capita age-driven spending, by country, ($m), 1997-2007

Table 15: Age-driven personal care purchases, by country, ($m), 1997-2007

Table 16: Age-driven make-up purchases,by country, ($m), 1997-2007

Table 17: Age-driven skincare purchases, by country, ($m), 1997-2007

Table 18: Age-driven facial care purchases, by country, ($m), 1997-2007

Table 19: Age-driven haircare purchases, by country, ($m), 1997-2007

Table 20: Age-driven fragrance purchases, by country, ($m), 1997-2007

Table 21: Age-driven alcohol spending, by country, ($m), 1997-2007

Table 22: Age-driven beer spending, by country, ($m), 1997-2007

Table 23: Age-driven spirit spending, by country, ($m), 1997-2007

Table 24: Age-driven ready meal spending, by country, ($m), 1997-2007

Table 25: Table of definitions

List of Figures

Figure 1: Maslow\'s hierarchy of needs

Figure 2: Twenty-somethings and mid-lifers population, by country, (%), 2002-2007

Figure 3: Life-stages by level of targeting and impact on lifestyle

Figure 4: Students and new career starters as a percentage of 15-29 year olds, (%), 2002

Figure 5: Age-driven reasons for saving money, (%)

Figure 6: Saving priorities for consumers concerned by their financial future, (%)

Figure 7: Level of saving, by age group, (%)

Figure 8: Areas for saving money, by age group, (%)

Figure 9: Consumer attitudes to the physical and mental effects of aging, (%)

Figure 10: Action taken in response to fear of physical aging, by age group, (%)

Figure 11: Consumer attitudes to the physical signs of aging, (%)

Figure 12: Age-driven changes to personal care spending, (%)

Figure 13: The importance of feeling attractive, by age-group, (%)

Figure 14: Consumer attitudes to age, approaching milestones and current milestones, by age group, (%)

Figure 15: Specific fears about aging, by age group, (%)

Figure 16: The effects of fear of aging on the likelihood of changing spending patterns, by age group, (%)

Figure 17: Targeting consumers by fear of aging

Figure 18: Factors promoting adoption of a health and beauty regime