Report | Exploring the opportunity for UK hospitality from an ageing population

About

The UK population has been steadily getting older and this is projected to continue in the future. In 2016, there were 11.8 million UK residents aged 65 years and over, representing 18% of the total population – 25 years before, there were 9.1 million, accounting for 15.8% of the population. By 2066 it’s projected there will be a further 8.6 million UK residents aged 65 years and over, taking the total number in this group to 20.4 million and making up 26% of the total population. (Source: ONS)

This report delves into the attitudes and behaviours of the 65+ group to understand what makes them tick, and to what extent they are different (but also similar) to other key target age groups, including Gen X, Y and Z. Age may well be just a number, but to understand this demographic, it isn’t the only number you need to know.

We have conducted exclusive consumer research with a representative sample of 442 UK adults (aged 65 and over). With robust comparison data against other key age groups, namely; Gen X (ages 42-57), Millennials (ages 26-41) and Gen Z (ages 18-25).

Topics include:

• Where does hospitality fit in their total food and drink repertoire
• The out-of-home occasions which are driving spend
• Their repertoire of venues and how this is evolving
• Influences on choice of venue and purchases
• The role that ‘health’ plays in food & drink decisions
• Spending behaviours across pubs, bars and restaurants
• The barriers and opportunities for operators and brands and the size of the prize if we get it right
• The ideal marketing and communication strategy to target this group

This report demonstrates the importance of the older demographics in driving both footfall and spend to UK hospitality, whilst highlighting the tactics in order to ‘win’ with this valuable customer group.

Release date

Jan 2023

Format

PDF Report. 47 pages