The spending power of the over-60s is often underestimated by brands and retailers.
Contrary to popular belief, older shoppers often spend more on food than their younger counterparts. This is something we see particularly in the fresh produce market. Shoppers over 60 spend on average £430 per year on wholehead fruit and veg – almost £50 more than the typical shopper. Those aged between 70 and 79 spend even more, racking up bills of £453 per year – higher than any other age group.
There are a number of reasons for this. As we age, we become increasingly concerned with health and are more likely to buy food simply because it is good for us. Older shoppers also tend to have more time on their hands – in fact they visit supermarkets more regularly than any other age group. This means they also buy produce much more frequently than other shoppers – 25 times more per year on average.
Older consumers are also less likely to shop in Aldi or Lidl, favouring more premium retailers where fresh produce prices are generally higher. While the discounters have managed to attract many consumers that previously would not have shopped with them, the sexagenarians have proved harder to convince. This is something the discounters need to address if they want to capitalise on older shoppers’ love for fruit and veg.
Our examination of the market allows us to bust many myths about the over-60s, however there are other stereotypes that hold true. In terms of what they eat, older shoppers tend to stick to traditional favourites and are less likely to try exotic varieties. New potatoes, cauliflower and cabbage are popular as they work well in the traditional “meat and two veg” meals favoured by older shoppers, who may be more likely to stick to what they know.
Despite trends among younger consumers, more unconventional fruit and veg isn’t popular with older people. While avocado, kale and mango are performing well in the wider market, the over-60s are bucking this trend.
It is up to retailers and marketers to convince these lucrative senior shoppers to add more unusual options to their baskets – through targeted media campaigns, or by showing how more unusual fresh produce can be added in to traditional dishes.
No comments yet