Cash-rich seniors, secretive spenders and decision-making moms are among six emerging UK consumer tribes that will present significant opportunities in 2016, according to a December 2015 forecast from global market research firm Mintel. Key traits for each group are:
- Cash-Rich Seniors: Some 44% of British seniors (aged 65+) say their financial situation is "healthy" and have leftover money each month to spend, compared with just 24% of the average population. For strategies to target this lucrative market, see Seniors Level Up.
- Secretive Spenders: Concerns around privacy are growing and some 58% of UK consumers are unhappy that their information is being used for online advertising purposes. Brands that emphasise discretion will appeal to this group.
- Data-Driven Narcissists: Members of this cohort expect brands to provide them with data and ways to analyse this, for every aspect of their lives (see Digital Worlds Update: The Consumer of 2030). Consequently, demand for wearables is rising – some 24% of UK consumers who don't own a device are interested in doing so.
- Serenity Seekers: Busy, hyper-connected consumers are craving moments of calm. Around 20% want somewhere to unwind, providing brands with opportunities to offer products promoting relaxation. See Compressed Calm for more.
- Decision-Making Moms: UK moms make most household purchasing decisions and 80% believe it's important to spend time as a family, without technology. This is creating demand for leisure experiences that engage the senses and encourage human connection, an idea explored in our Get Real Macro Trend.
- 'Why Buy?' Generation: The sharing economy will continue to flourish in 2016. Some 90% of UK millennials (aged 25 to 34) say they always or sometimes borrow things instead of buying them, and half attend events to swap items they no longer need.