Report: Security and Trust - UK

Issues in the MarketReport synopsis
Mintel research
Mintel-commissioned research
Lifestage and Special Groups
Related reports
Abbreviations
Insights and Opportunities
All kinds of people
Cautiously Optimistic
Worriers
Chancers
Carefree
Independent women
House and home
Lifestyle Sector in Brief
Job security is the key to spending and financial well-being
- Figure 1: Factors needed for financial security, 2007
A wealth of sources of help and advice
- Figure 2: Sources of help and advice, 2007
Security and trust typologies
- Figure 3: Security and trust typology groups, 2006
What does the future hold? -- it depends who you are...
- Figure 4: Factors affecting prospects for the next two years, 2007
Looking forward to change
Hoping for stability
Preoccupied with property
Work-related gloom
Comfortably stable
Health concerns
Outlook bright
Sector Environment
Population trends
- Figure 5: UK population by broad age bands, 2004-12
Trends in family life
Coupledom declining
Delaying parenthood
- Figure 6: Changes in the age at which women give birth, 2001-06
Trends in employment
Trends in housing
Rises in interest rates
- Figure 7: Interest rates, July 2006-May 2007
Who' s Innovating?
Spending and saving
Pre-paid debit cards
Age-targeted financial products
Let your bank keep an eye on the pennies -- ' Save the Change'
Affordability is a key issue
What Makes Us Secure, And Who Do We Trust?
Key Points
Marketing messages
What makes us secure?
- Figure 8: Factors needed for financial security, 2007
Who do we trust for help and advice?
- Figure 9: Sources of help and advice, 2007
Security and trust typologies
- Figure 10: Security and Trust typology groups, 2006
Demographic analysis
Pre-/no family
- Figure 11: The effect of lifestage on security among pre-family adults, by gender and marital status, 2006
Family
- Figure 12: The effect of lifestage on security among family adults, by gender and marital status, 2006
Third age
- Figure 13: The effect of lifestage on security among third age adults, by gender, 2006
Retired
- Figure 14: The effect of lifestage on security among retired adults by gender and marital status, 2006
The impact of what' s happening in their lives
- Figure 15: Most common life events, by security and trust typologies, 2006
Quantitative findings
Gambling with life
- Figure 16: ' I like taking risks' , by gender and lifestage, 2006
Giving and taking
The effect of advertising
Logging on for information
- Figure 17: ' When I need information the first place I look is the Internet' , by socio-economic group and lifestage, by gender, 2006
The Role of Employment
Key Points
Marketing messages
Job security is key
- Figure 18: Factors affecting job security, 2007
Job security and lifestage
Being flexible is a fact of life
But early retirement is a worry for many
Earnings in couples
Many women are still dependent
Inhibited spenders
Self-employment means self-reliant
' Make hay while the sun shines...'
Changing horses
The effects of a busy lifestyle
Time for...
Making life easier...
... and treating yourself
Quantitative findings
Security versus money
Worrying about work
- Figure 19: ' I worry about work during my leisure time' , by gender and working status, 2006
Current security levels
The Role of Family
Key Points
Marketing messages
Single security
The impact of divorce
Secure relationships?
The role of children in spending and financial security
Pre-/no family are concerned about being parents
Families have immediate demands
Costs are a cause for concern
Emotional insecurities...
...and gender variations
Children are a priority
Children stay children for longer
Financial support for grown-up children
- Figure 20: Financial support provided for adult children, 2007
Paying off university debt or supporting children past university age who were mature students
Giving financial support due to the family circumstances of grown-up children
Savings schemes for grandchildren
Financial help with major purchases
Spending on gifts and leisure activities for children and grandchildren
Raiding the piggy bank
Health, illness and bereavement
You can' t take it with you
Keeping the taxman away
Health issues
- Figure 21: Those who are worried by their own health problems, June 2006
Family celebrations are priorities
Help and advice from family members
Money Matters
Key Points
Marketing messages
Financial stability
Making ends meet
- Figure 22: Money worries, by gender, June 2006
Consumer confidence
- Figure 23: Mean consumer confidence levels, 2001-07
- Figure 24: Consumer confidence levels, by lifestage, 2007
A roof over their heads...
Problems caused by interest rates
Looking to the longer term
Lessons from the past
The positive aspects of getting older
Non-mortgage debt
Younger consumers are living on a precipice
- Figure 25: Those who are worried about the amount of money they owe, June 2006
Calling a halt
Quantitative results
- Figure 26: ' I spend money more carefully than I used to' , by recent life events, 2006
But credit is not all bad
It' s a younger issue
Pensions
Most younger people don' t worry about pensions ...
... but there are a few who do
A pension is often part of ' settling down'
Becoming a priority
- Figure 27: Those who are worried about not having sufficient pension to maintain a reasonable standard of living in retirement, June 2006
The reputation of the pensions industry
The lucky ones
Insurance
Covering themselves
- Figure 28: ' It' s important to be well-insured for everything' , by lifestage, 2006
Private health
Worrying about being ill
Inheritance
Just over half of consumers feel confident about handling their financial affairs
- Figure 29: Balance of agreement between those who agree and disagree ' I am very good at managing money' , by socio-economic group and lifestage, 2006
Marriage is the driver of financial prudence
Getting help and advice
Financial advisors...
...and the importance of recommendations
Taking a chance on life
Security and Home
Key Points
Marketing messages
Time to move on?
Improving not moving
Buying furniture
Who do they trust for help and advice?
A wife' s prerogative
Women ask other women
It' s another world
Retailers and brands are important
Other sources of information
Quantitative findings
A Sense of Self
Key Points
Marketing messages
Secure about their looks?
Changing standards can be unsettling, especially for men
The effects of ageing
- Figure 30: Those who are worried about beginning to show their age in their appearance, June 2006
The impact of ageing on spending habits
It is not just cosmetics that are affected
Positive aspects of growing older
Who do they trust to help and advise?
Youngsters, the font of technology know-how...
Worrying about themselves
- Figure 31: ' I worry a lot about myself' - by gender and lifestage, 2006
The main worriers...
Divorce hits men harder
Holidays and Cars
Key Points
Marketing messages
Holiday spending
Links with typology groups
- Figure 32: Those who have taken holidays in the last 12 months -- by security and trust typology groups, 2006
Choosing holidays
Spending on cars
A considered purchase
Personal choices
The financial aspect
New for reassurance
- Figure 33: Status of intention to purchase car in next 12 months, by typology group, 2006
Who do they trust to help and advise them?
Looking Ahead
- Figure 34: Factors affecting prospects for the next two years, 2007
Looking forward to change
Hoping for stability
Preoccupied with property
Work-related gloom
Comfortably stable
Health concerns
Outlook bright
Quantitative findings
Forecasting a frugal future...?
Security and trust typologies
- Figure 35: Security and Trust typologies, by demographic sub-group, 2006
The demographic scenario
- Figure 36: Security and trust typologies forecast -- assuming a static scenario, 2007 and 2012
The rise and fall of consumer confidence?
The less likely scenario
- Figure 37: Green security and trust typologies forecast -- assuming a positive scenario, 2007 and 2012
The most likely scenario
- Figure 38: Green security and trust typologies forecast -- assuming a negative scenario, 2007 and 2012
Spending Priorities
- Figure 39: Top five spending priorities for the next 12 months, 2007
Lifestage variants
- Figure 40: Top five spending priorities for the next 12 months, by lifestage, 2007
How consumer confidence affects spending priorities
- Figure 41: Mean consumer confidence levels of spending priorities, 2007
Appendix
Sector environment
- Figure 42: UK Population by age group, 2004-12
- Figure 43: Mean age at first marriage, England and Wales, 1994-2004
- Figure 44: Marriage and divorce trends in the UK, 1996-2011
- Figure 45: Number of births in England and Wales, by age of mother, 2001-06
- Figure 46: Trends in employment and unemployment, 1991-2011
- Figure 47: Trends in male and female employment, 1991-2011
- Figure 48: The rise of owner-occupation, 1991-2011
- Figure 49: Bank of England base rate, 1990-2007
What makes them secure and who do they trust?
- Figure 50: Cluster groups, by demographic sub-group, 2006
- Figure 51: Cluster groups -- men, by demographic sub-group, 2006
- Figure 52: Cluster groups -- women, by demographic sub-group, 2006
- Figure 53: Cluster groups, by agreement with lifestyle statements, 2006
- Figure 54: Those agreeing that ' I like taking risks' , by gender, demographic sub-group and recent life events, 2006
- Figure 55: Agreement/disagreement that ' I ask people for advice before buying new things' , by demographic sub-group and recent life events, 2006
- Figure 56: Agreement/disagreement that ' People come to me for advice before buying new things' , by demographic sub-group and recent life events, 2006
- Figure 57: Agreement/disagreement that ' advertising helps me decide what to buy' , by demographic sub-group and recent life events, 2006
- Figure 58: Agreement/disagreement that ' I think quite a lot of TV advertising is devious' , by demographic sub-group and recent life events, 2006
- Figure 59: Those agreeing that ' When I need information the first place I look is the Internet' , by gender, demographic sub-group and recent life events, 2006
- Figure 60: Those agreeing that ' I often refer to the Internet before making a purchase' , by gender and demographic sub-group and recent life events, 2006
- Figure 61: Agreement/disagreement that ' You have to be careful about the quality of the things you buy on the Internet' , by demographic sub-group and recent life events, 2006
- Figure 62: Agreement/disagreement that ' It is important that a company acts ethically' , 2006
The role of employment
- Figure 63: Those agreeing that ' In a job, security is more important than money' , by gender, demographic sub-group and recent life events, 2006
- Figure 64: Those agreeing that ' I worry about work during my leisure time' , by gender, demographic sub-group and recent life events, 2006
- Figure 65: Those who are worried about the security of their current job, june 2006
The role of family
- Figure 66: Those who are worried about the cost of their children' s education, June 2006
- Figure 67: Those who are worried about their own health problems, June 2006
- Figure 68: Those who are worried about the serious illness of someone close to them, June 2006
- Figure 69: Those who are worried about coping with bereavement, June 2006
- Figure 70: Those who are worried about feeling lonely, June 2006
Money matters
- Figure 71: Those who are worried that they don' t have enough money for the kind of lifestyle they would like to lead, June 2006
- Figure 72: Those who are worried about not being able to pay the bills, June 2006
- Figure 73: Consumer confidence, by lifestage, January 2007
- Figure 74: Consumer confidence, by lifestage* (mean scores), 2001-07
- Figure 76: Agreement/disagreement that ' If there' s something I want I save up for it' , by demographic sub-group and recent life events, 2006
- Figure 77: Agreement/disagreement that ' I spend money more carefully than I used to' , by demographic sub-group and recent life events, 2006
- Figure 78: Agreement/disagreement that ' I tend to spend money without thinking' , by demographic sub-group and recent life events, 2006
- Figure 79: Agreement/disagreement that ' With a credit card I can buy things I can' t normally afford' , by demographic sub-group and recent life events, 2006
- Figure 80: Agreement/disagreement that ' It is important to be well-insured for everything' , by demographic sub-group and recent life events, 2006
- Figure 81: Those who are worried about not having sufficient pension to maintain a reasonable standard of living in retirement, June 2006
- Figure 82: Agreement/disagreement that ' I am very good at managing money' , by demographic sub-group and recent life events, 2006
- Figure 83: Agreement/disagreement that ' I usually consult a financial advisor before deciding on financial matters' , by demographic sub-group and recent life events, 2006
- Figure 84: Ownership of financial products, by security and trust typology, 2006
Security and home
- Figure 85: Those agreeing that ' Once I find a brand I like I tend to stick to it' , by gender, demographic sub-group and recent life events, 2006
- Figure 86: Those who agree that ' I like changing brands' , by gender, demographic sub-group and recent life events, 2006
A sense of self
- Figure 87: Those agreeing that ' I worry a lot about myself' , by gender, demographic sub-group and recent life events, 2006
- Figure 88: Those who are worried about beginning to show their age in their appearance, June 2006
Holidays and travel
- Figure 89: Agreement/disagreement that ' Newspaper and magazine articles on holiday travel influence my choice of holiday' , by demographic sub-group and recent life events, 2006
- Figure 90: Holiday habits in last 12 months, by security and trust typology, 2006
Looking ahead
- Figure 91: Agreement/disagreement that ' I am very happy with my life as it is' , by demographic sub-group and recent life events, 2006
- Figure 92: Those agreeing that ' I am very happy with my life as it is' , by gender, demographic sub-group and recent life events, 2006
- Figure 93: Agreement/disagreement that ' I am an optimist' , by demographic sub-group and recent life events, 2006
- Figure 94: Those agreeing that ' I am an optimist' , by gender, demographic sub-group and recent life events, 2006
- Figure 95: Agreement/disagreement that ' I like to enjoy life and don' t worry about the future' , by demographic sub-group and recent life events, 2006
- Figure 96: Those agreeing that ' I like to enjoy life and don' t worry about the future' , by gender, demographic sub-group and recent life events, 2006
- Figure 97: Spending priorities for 2007, by lifestage, 2006

Security and Trust - UK - June 2007

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