Grey Power - Booming Baby Boomers

Britain's baby boomers are enjoying an economic boom unparalleled to the rest of society a report reveals today. Women and men between the ages of 50 and 64 have the highest incomes and spend more on goods, food and leisure than the rest of the population.

The study, Grey Power, by Help the Aged and MORI, reports on the lifestyles of the over fifties from their spending power to television habits. It shows that more older people are richer, healthier and more socially active than previous generations.

The study reveals that 'younger' older people have never had it so good. For example:

• People aged between 50-64 have a gross income of 163457 a week compared to an average 163397
• The same age group spends 16361 a week on food and soft drinks compared to 16355 in all households, and 16377 if alcohol is included, as against 16367
• 50-64 year olds spend 163115 on motoring, leisure goods and services compared with the average household's 16390 per week.

But older age also defines a more settled generation. Among the older population, the study reveals that those aged 65 and over spend 36 hours a week watching television - the same as an average working week. Older people reported being happier than younger generations and enjoying freedom from commitments.

The study also shows that more older people get involved in voluntary work and church activities than other age groups. And 'younger' older people are also the most politically active group in society - 24% participating, compared to 16% of the whole population.

Sandra Chalmers, Director of Communications at Help the Aged, said: "Marketing and advertising professionals should take note of this powerful group of people about to cross the threshold into retirement. However, the survey also reveals that 'older' old people are not so well-off and we must be wary of generalisations."

Professor Sir Robert Worcester, Chairman of MORI, said: "Most 'older' households comprise retired couples. Four in five Britons aged 55-64 are married or cohabiting and fewer than half of them are still working. They have high disposable incomes, many have substantial savings, and they have leisure time in which to spend them. Their economic power and importance as a key consumer group should be obvious."

Grey Power is available by making out a cheque for 1638 (includes p&p) to Help the Aged and dispatching it to: Jenny Havis, Help the Aged, St James' Walk, Clerkenwell Green, London EC1R OBE.

Technical details

MORI interviewed a representative quota sample of 1,862 British adults aged 18+ at 165 sampling points across Great Britain. Interviews were conducted face-to-face in home on 20-23 August 1999.