observatoire de la consommation 2016
TRANSCRIPT
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Press conference of 2 February 2016#SilverEco @obs_cetelem
IS THE SILVER ECONOMY ENTERING ITS GOLDEN AGE?
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Flavien NeuvyHead of L’Observatoire Cetelem
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METHODOLOGY All economic and sociological analyses, as well as forecasts, were performed in
conjunction with the survey and consulting firm BIPE. Survey conducted via the web by TNS-Sofres in November 2015 (TNS_LSR
panel) based on the quota method. The sample comprised men and women aged 18 to 75 representative of the
population in each country. This representativeness was ensured by applying the quota method to various criteria: gender, age, region and social class. In total, 10,600 interviews were performed, i.e., 800 interviews per country, except for France, where 1,000 interviews took place.
13 countries: Germany, Belgium, Denmark, Spain, France, Italy, Portugal, United Kingdom, Hungary, Poland, Czech Republic, Slovakia and Romania
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CONSUMER SPENDING IN EUROPE: THE UPTURN CONTINUES
SENIORS, LOVING LIFE (SOCIABLY)!
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TABLE OF CONTENTS
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HUMAN CONSUMERS WITH DIGITAL TENDENCIES
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CONSUMER SPENDING IN EUROPE: THE UPTURN CONTINUES
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Growth: the gaps are shrinkingGDP growth of the countries examined by L’Observatoire Cetelem
(e): Bipe estimates - (*) ForecastsSource: European Commission, November 2015 forecasts.
2015 (e) 2016* 2017*Germany 1.7 1.9 1.9
Belgium 1.3 1.3 1.7
Spain 3.1 2.7 2.4
France 1.1 1.4 1.7
Italy 0.9 1.5 1.4
Portugal 1.7 1.7 1.8
United Kingdom 2.5 2.4 2.2
Hungary 2.9 2.2 2.5
Poland 3.5 3.5 3.5
Czech Republic 4.3 2.2 2.7
Slovakia 3.2 2.9 3.3
Romania 3.5 4.1 3.6
Denmark 1.6 2.0 1.8
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How would you rate the overall situation in your country on a scale of 1 to 10?
Source: L’Observatoire Cetelem 2016
DE BE ES FR IT PT UK HU PL CZ SK RO DK
6.4
5.2
3.2 4.0
3.4 3.2
5.4
3.3
4.4 4.5 3.9
4.3 4.6
5.7 5.1
4.1 4.4 4.1 3.5
5.4
3.9 4.6 4.6 4.4 4.2
5.9
4.7
Average for all
countries
Score out of 10 in 2015 Score out of 10 in 2016
Europeans believe that the economic situation is better
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Personal circumstancesHow would you rate your current personal circumstances on a scale of 1 to 10?
DE BE ES FR IT PT UK HU PL CZ SK RO DK
6.3 5.8
4.9 5.6
5.0 4.6
6.1
4.4 4.7 4.9 4.6
5.1 5.5
6.2 6.2
5.2 5.5 5.4 4.7
6.2
4.3 5.0 5.2 5.0
5.4
6.2 5.6
Source: L’Observatoire Cetelem 2016
Average for all
countries
Score out of 10 in 2015 Score out of 10 in 2016
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Spending power: a negative perceptionOver the last 12 months, would you say that your spending power…Subtotal "Somewhat" and "Significantly" (in %)
DE BE ES FR IT PT UK HU PL CZ SK RO DK13-
country average
Has increased 20 12 16 7 10 11 20 17 21 22 20 28 18 16
Has remained stable 51 39 45 35 47 33 58 44 47 46 51 41 56 47
Has fallen 29 48 39 58 44 57 22 40 33 31 19 31 27 37
Source: L’Observatoire Cetelem 2016
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Seniors, loving life (sociably)! 2
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Seniors: who are they?
Source: Eurostat
"Senior" is a subjective term and there is no officially agreed definition. It is used in various fields to describe highly disparate age ranges.
Meanwhile, sociologists have pointed out the advantages of reasoning in terms of people's life cycles.
For its 2016 survey, L’Observatoire Cetelem was keen to examine the lifestyles, expectations and spending habits of working seniors and retired active seniors alike, i.e., those aged 50 to 75.
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Seniors enjoy ever growing demographic clout
50-59 year olds 60-74 year olds 75-84 year olds Over 85s
Number of consumers 59 million 67 million 28 million 10.5 million
% of the overall population this age group represents 13.8% 15.7% 6.5% 2.5%
Source: Eurostat
Over 50s represent 38.5% of the total population of the countries surveyed.They will represent 44.1% of the population in 2030 and 45.9% in 2050.
Scope: countries of L’Observatoire Cetelem
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The profile of seniors
Their parents
At least one living parent 46%
5%At least one parent living at their home
41%At least one parent
living elsewhere
Their children
At least one child 79%
65%At least one child living elsewhere
32%At least one child still
living at home
43% 56%
17% 76%
6% 51%
2% 29%
50-59 year olds
60-75 year olds
Source: L’Observatoire Cetelem 2016
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A worried generation... Are you concerned about your children's future professional and personal circumstances?In %
Are you concerned about the well-being and personal circumstances of your parents, parents-in-law or grandparents?In %
Very concernedSpain 92%Portugal 88%Italy 85%France 83%Hungary 80%
Not too concernedCzech Republic 37%UK 37%Germany 35%
36%
28%
23%
13%
Very Somewhat A littleNot at
all
22%
30%
27%
21%
Very Somewhat A little Not at all
Source: L’Observatoire Cetelem de la Consommation 2016; scope: seniors with children, (great-)grandchildren or parents.
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...but one that shows solidarityWould you say that you contribute, occasionally or regularly, to financing the following expense items of at least one of your descendants or ancestors who do not live in your home:Subtotal "occasionally" and "regularly" in %, 13-country average
38%Housing
63%Day-to-day expenses
56%Durable goods
52%Savings
78%At least one of these expense
items
Descendants
Ancestors 14%Housing
33%Day-to-day expenses
24%Durable goods
13%Savings
39%At least one
expense item
Source: L’Observatoire Cetelem de la Consommation 2016; scope: seniors with descendants or ancestors who do not live in their home.
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Human consumers with digital tendencies 3
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Almost 2 hours a day on the internetOn average, how much time per week do you spend on the following activities? Surfing the web / Watching television
Seniors 13hrs 15min 13hrs 45minNon-seniors 12hrs 15min 9hrs 15min Under 35s 12hrs 15min 7hrs 45min35-50 year olds 12hrs 20min 11hrs 00min50-59 year olds 13hrs 15min 13hrs 10min60-75 year olds 13hrs 15min 14hrs 30min
Source: L’Observatoire Cetelem de la Consommation 2016
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Seniors view the collaborative economy less positively than young peopleWhat is your opinion of the services available within the collaborative and sharing economy?Subtotal "somewhat" and "very" positive in %
DE BE ES FR IT PT UK HU PL CZ SK RO DK
69%76% 78%
84% 80% 84%
66%60%
70%64%
69%61%
78%
60%66%
72%76% 76%
72%
39%46%
52% 49% 47%38%
67%
Source: L’Observatoire Cetelem de la Consommation 2016
Non-seniors, 13-country average: 73% Seniors, 13-country average: 61%
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A desire to see and touch productsWhy don't you regularly purchase these products via the internet?Several answers possible. In grey: no significant difference between seniors and non-seniors.
Ranking among seniors Food Clothes Household electrical goods Travel Leisure Electronic
devices Furniture Senior average
1. I like to see/touch a product before I buy it
S: 76% 80% 65%
43% 58% 67%65%
NS: 71% 73% 54% 39% 53% 63%
2. I enjoy going out to shops52% 50% 42% 24% 37% 39% 42%
41%44% 45% 34% 22% 32% 32% 35%
3. Force of habit38% 27% 24% 30% 31% 22% 21%
28%39% 27% 23% 27% 29% 21% 20%
4. I do not trust online payment systems
8% 18% 42% 33% 14% 41% 24%26%
10% 19% 40% 31% 14% 34% 21%
5. I need the advice of a sales assistant
16% 17% 20% 28% 21% 20% 17%20%
15% 17% 23% 29% 20% 19% 15%
6. I can't easily access the internet
8% 7% 8% 12% 11% 8% 9%9%
9% 10% 11% 18% 14% 11% 10%
Source: L’Observatoire Cetelem de la Consommation 2016
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The internet: crucial when searching for informationBefore buying durable goods, do you...Positive answers (very often or quite often) in %
DE BE ES FR IT PT UK HU PL CZ SK RO DK
69 7268 69
80
7280
7280
8581 83 82
74
50 46 46 49
59
44
6457
67
76
6461
40
5556 57 5850
66 69
60
75 7377
61
74 71
61
Seek information on specialist websites or in the press
Read comments posted on the internet
Average for all
countries
Visit price comparison sites
Source: L’Observatoire Cetelem de la Consommation 2016
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Purchasing criteria: value for money first and foremostWhen you buy durable goods, what are the five main criteria that govern your choice? Positive answers in %
Seniors Non-seniors Difference
Price 82% 77%
Quality 71% 65%
Functionality 51% 47%
Environmental friendliness 31% 21%
Appearance 28% 36%
Brand 26% 30%
Country of origin 13% 9%
Consumer opinion 7% 17%
Advice from a sales assistant 7% 7%
Opinions of people you know 7% 11%
Source: L’Observatoire Cetelem de la Consommation 2016
+5
+6
+4
+10
-8
-4
+5
-10
0
-4
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Seniors are less sensitive to advertisingIn general, do you pay attention to brand advertising?Positive answers in %
9%
4%
47%
39%
35%
42%
9%
15%
Yes, a lot of attention
Seniors
Non-seniors
Yes, some attention
No, not much attention
No, not at all
Source: L’Observatoire Cetelem de la Consommation 2016
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Brand advertising: differing expectationsWhat are the three main criteria an advertisement must meet to grab your attention? (maximum of three answers)Positive answers in %
8%
23%
25%
33%
46%
47%
61%
14%
30%
28%
34%
36%
46%
50%It must convey emotion
It must be funny
It must embody values
It must surprise you
It must centre on product characteristics
The music must be striking
It must be possible to identify with the actors
Source: L’Observatoire Cetelem de la Consommation 2016
Non-seniors Seniors
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Thank you for your attentionQ & A
www.observatoirecetelem.com#SilverEco @obs_cetelem