Silver age in the CEE: How are people aged 50+ doing nowadays in comparison with 'Westerners"?

Lenka Korecková and Petr Kubánek
Millward Brown and Ceská Sporitelna

Introduction

Ceská sporitelna (ERSTE Group) wanted to understand lifestyles of people over 50 years old, including what segments can be found in the age group as well as what is typical for them. Consequently, we conducted a micro-segmentation and ethnography study, which focused only on people 50+. The results helped us to define five groups that vary by both life and financial activity. This enabled us to estimate rough market potential for Ceská sporitelna. Thanks to our in-depth look into pre-seniors' and seniors' lives, the project resulted in concrete recommendations. In specifics, we found out what products, services and improvements can be made in bank's branches, products and services, so that the business with these clients could be extended.

Background