Marketing to Tomorrow's Consumer - UK: Industry Report

Marketing to Tomorrow's Consumer - UK

Product Type: Market Research Report
Published by: Mintel International Group Ltd.
Published: October 2007
Product Code: R560-2938

Description

This report focuses on the future goals and motivations of consumers, and tries to pinpoint the differences between those who are spurred on by strong goals and ambitions, and those who prefer to remain within their comfort zone, steering clear of risk if possible.

It is important to understand the motivations and lifestyles of both of these consumer types, as the marketing messages needed to attract each group will often need to be very different.

Goal driven: Which areas tend to be affected by ambition and the desire to win? Are they only happy if they can negotiate the best deal, tackle extreme sports, sit in the overtaking lane, and be winners in the eyes of their family and friends?

Comfort seekers: In which areas are they most likely to crave stability and certainty? In which areas (if any) would they be prepared to take risks - and if so, what are the ‘tipping points’ that would make them back away from change?

What is it that makes someone goal-driven or a comfort-seeker? Do consumers change and progress through different lifestages, or are they inherently ambitious or comfort zoners?

How does ‘membership’ of these groups impact on people’s lifestyles in terms of their leisure, holidays, finances, shopping behaviour, and the products that they buy?

Table of Contents

Issues in the Market: Who are we? - Comfort Seeker or Goal Driven?; Mintel research; Mintel-commissioned research; Report Synopsis; Lifestage and Special Groups; Abbreviations
Insights and Opportunities: Targeting the Anxious Comfort Seekers; Careering towards confidence; Consolidated financial advice; Home help; Free fun; Targeting the Goal Driven; Investing in work; Careering towards autonomy; Guided risk; ‘Homing’ in on investments; Play hard; Targeting the Contented Comfort Seekers; Linked investments; Financial downsizing; Home pride; Educated fun; Travelling together; Targeting the Altruistic Adventurers; Work escapologists; Family first; Flexible living; Adventurous adrenaline rush
Lifestyle Sector in Brief: In or out of the comfort zone?; When it comes to finance, most like to stay in the comfort zone; Home is a comfort zone - but can also be the focus for ambitions; Good health is comforting if you have it, but may need strict goals to achieve it; Cars and technology - status symbols for some, daunting for others; Leisure can be fine outside the comfort zone…; …holidays and travel even more so; How far from the comfort zone in future? It depends where you are in life; Everyone needs their own comfort zone
Who’s Innovating?: Financial innovations; Targeting youth to ensure a lucrative future; Charging for banking services; Helping customers to save; Safe as houses?; Home innovations; The home bistro; Free technology attracts new consumers; Comfort Innovations; ‘Healthy Alcohol’; Leisure innovations; In-home entertainment; IPTV meets Xbox…; …and HDTV; An alternative reality; Broadening the parameters of ‘experiences’
Sector Environment: Macro-Economic Factors Influencing the Comfort Zone; The divorce rate; Employment trends; Interest rate trends; Housing trends
Attitudes and Priorities: Key Points Summary; Marketing messages; Consumer groups; Group 1. Anxious Comfort Seekers (26% of the sample); Group 2. Goal Driven (22% of the sample); Group 3. Contented Comfort Seekers (26% of the sample); Group 4. Altruistic Adventurers (26% of the sample); Demographic analysis; Anxious Comfort Seekers; Goal-Driven; Contented Comfort Seekers; Altruistic Adventurers; Comfort level groups and life events; Anxious Comfort Seekers; Goal Driven; Contented Comfort Seekers; Altruistic Adventurers; Attitudes to life; Are they happy?; …very - if a Contented Comfort Seeker; Ready for change?; …only if able, rather than just willing; Held back by children; Able but not necessarily willing; Life can move faster than plans; Goals…; …and impulses; Seize the day?; Yes for the Goal Driven and Altruistic Adventurers; The importance of education; Older and more cautious - responsibility takes hold; Regrets…; …and sacrifices; Keep on trying?; Yes for the Goal Driven and Altruistic Adventurers; Knowing when to give up; Risk, adventure and challenge; Not for the Contented Comfort Seekers; Financial risks are another ball game; …and some risks are inevitably unavoidable; A ‘calculated’ risk; A high degree of personal risk is common; Surprisingly risky for the older, more ‘sedate’; Holidays - coupled with a keen sense of adventure; Adventure can be without risk; Adventure in the more ‘mundane’ areas; Of course, ‘adventure’ is not for everyone…; …particularly related to lifestage and past experience; Actively seeking challenge
Chasing Success: Careers and Qualifications: Key Points Summary; Marketing messages; Working all hours?; Attitudes towards work, career and success; Respect and responsibility; The fine balance between being respected and being liked; The importance of respect outside the workplace…; …parental?; …and from grown-up children; Following instructions; The marriage of money and responsibility; Self employment and the search for autonomy; The distinction between of not wanting responsibility and being told what to do; Young ‘alpha females’; Family or career?; The inevitability of sacrifice; Some regrets - and missing out?; Mothers still put family first; Career plans and comfort zones; ‘I look on the work I do as a career rather than just a job’; ‘I want to get to the very top in my career’; ‘I would like to set up my own business one day’; Contented Career Seekers; Altruistic career paths; Anxious Career Paths; Career Driven
Money-minded: Ambition versus Security in Money Matters: Key Points Summary; Marketing messages; Attitudes towards finance; ‘I am perfectly happy with my standard of living’; Older adults are the most contented financially…; … but those with children have the greatest financial concerns; ‘How I spend my time is more important than the money I make’; ‘Money is the best measure of success’; Money management; ‘I am very good at managing money’; ‘I usually consult a professional financial adviser before deciding on financial matters’; Investment, credit and debt; ‘I look for profitable ways to invest my money’; ‘Owning stocks and shares is too risky an investment for me’; ‘I don’t like the idea of being in debt’; ‘With a credit card I can buy things I couldn’t normally afford’; Financial products owned; Finance and the comfort zone; A ‘calculated risk’; Back to square one?; Those with definite Goals; The fruits of financial risk; The golden age of contentment; The financially anxious
Ambition and the Home: Showcase or Cocoon?: Key Points Summary; Marketing messages; ‘Somewhere to come back to’: home and the comfort zone; Home as a financial comfort; Home - essential for a sense of security (even for non-home-owners); Ambitions begin at home?; A home goal; Quality not quantity for the altruistic; Contented home comfort; Anxious home seekers; The look of the place; Vast majority are clean and tidy
Health Targets: Super fit, Risk-taker or Moderation in All Things?: Key Points Summary; Marketing messages; Health and the comfort zone; Older adults see good health as a source of comfort; Stringent health goals; Comfortably healthy - taking it in their stride; Anxious health seekers; Strict health targets; Health - for fun; Smoking and drinking; Attitudes towards health; ‘Because of my busy lifestyle I don’t take care of myself as well as I could’; ‘Most of the time I'm trying to lose weight’; ‘I always think of the calories in what I eat’; ‘I always look for the light/diet versions of food and drink’; ‘I always check the nutritional content of food’; ‘I do some form of sport or exercise at least once a week’
Fast-Lane Living: Cars and Technology: Key Points Summary; Marketing messages; Cars, technology and the comfort zone; Fast and Driven; ‘Dream car’ for the altruistic types; Contented Comfort Seekers; Anxious Comfort Seekers; Attitudes towards technology; ‘I try to keep up with developments in technology’; Ownership of technology; Attitudes towards cars; ‘My car should catch people’s attention’; Car ownership
Switching Off: The Adrenaline Rush Versus Relaxation in Leisure Time: Key points summary; Marketing messages; Leisure time and the comfort zone; Risk and excitement needed for an ‘ordinary’ life; Leisure goals; Altruistic Adrenaline Seekers; Comfortable Leisure Seekers; Financial anxiety about leisure activities; Attitudes towards leisure time; ‘I prefer to spend a quiet evening at home rather than go out’; ‘I consider myself interested in the arts’; ‘I enjoy splashing out on a meal in a restaurant’; Comfort eaters?
Going Far: Holidays, Travel and Ambition: Key Points Summary; Marketing messages; Travel and the comfort zone; Travelling - from the mundane to the exciting; Holiday goals; Younger…; and Older…; The altruistic holiday; Seeking just comfort and relaxation; Anxious and avoidant; Holiday habits; Different kinds of holiday for different kinds of people; Attitudes towards holidays; ‘I prefer to take holidays off the beaten track’; ‘I like to go back to familiar places for holidays’; ‘I like to go somewhere different on holiday every time’
Ambitions for the Future: Key Points Summary; Attitudes towards the future; ‘I like to enjoy life and don’t worry about the future’; Future plans; Older men; Older women; Family men; Family women; Pre-/no family men and women; Where is the comfort zone?; Having it both ways; It all depends …; Some things are riskier than others; People think differently; The future is…more comfort seeking?; Comfort Level Groups; The demographic scenario; The rise and fall of comfort seeking?; The less likely scenario; The more likely scenario; Other macro-economic factors affecting the future…
Appendix: Sector environment; Attitudes and priorities; Chasing success: careers and qualifications; Money-minded: Ambition versus security in money matters; Ambition and the home: showcase or cocoon?; Health Targets: Super fit, Risk-taker or Moderation in all things?; Fast-Lane Living: Cars and Technology; Switching Off: The Adrenaline Rush Versus Relaxation in Leisure Time; Going Far: Holidays, Travel and Ambition; Ambitions for the future

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