Benefit Segmentation

A potentially useful technique of segmenting and targeting older consumers

Rizal Ahmad
The University of Kent at Canterbury

Introduction

The number and proportion of older people in the United Kingdom is growing. The proportion of those who are 50 years old or over is expected to grow from 30% (20 million) in 2001 to 33% (22 million) by 2011 and to 37% (25 million) of UK's total population by 2021 (Office for National Statistics, 1999). The result of the 2001 census shows that older people (people aged 60 and over) outnumbered children (below the age of 16) by about half a million, with certain parts of the country notably Scotland actually experiencing a long term negative growth in population (Office for National Statistics, 2002a). But while the population of the UK and most economically developed countries may be ageing, older people are also consumers offering new market opportunities.