SHOPPING STARTS AT 50 FOR UK MEN
British men are discovering the joy of shopping later in life, outspending their female counterparts by £3.3 billion a year when they hit 50, according to new research from Direct Line Home Insurance.
Following the example of big spenders like Elton John, Britain’s maturing men shell out £11.6 billion on sports equipment, clothes, MP3 players and digital cameras, compared with £8.3 billion3 spent by women of the same age.
These ‘MOFS’ (Male Over Fifty Spenders) are turning the traditional view that shopping is solely a female pastime on its head, as six in ten (57 per cent) of 50 plus men admit that they enjoy spending more than ever.
The Direct Line Home Insurance research shows that over half (51 per cent) shop for luxury items at least once a week, with a hardcore one in 20 MOFS hitting the high street every day.
Today’s maturing men have a carefree attitude and see spending as a right rather than a privilege. One in 10 feel that they deserve to buy new things and eight per cent enjoy impulse shopping as it makes them feel like they live for the moment.
29 per cent enjoy shopping as a leisure pursuit now that they have more time on their hands and three per cent of men aged over 50 are even splashing out on sports cars, motorbikes and boats in order to relive their younger years.
And Britain’s maturing men are particularly keen on the latest digital gadgets, outspending women on all high-tech merchandise.
One in ten has bought an i-Pod in the last year, compared to only one in 20 (four per cent) women and 41 per cent has bought a home computer or laptop, against 26 per cent of women.
Other popular items with male third-agers include digital cameras (43 per cent) and DVD players (36 per cent).
Simon Ziviani, Direct Line Home Insurance spokesperson, comments:
“ Our research shows that modern older men aren’t turned off by shopping in the way that their fathers might have been. On the contrary, they are embracing consumer culture and are particularly keen not to be left behind by technology, snapping up the latest gadgets with the gusto of teenagers.
“It’s great to see older men spending their hard earned cash, although - of course - they need to remember that their spending spree may impact upon the value of their home contents.”
MOFS Regional Statistics (per cent)
| |
U.K |
London |
South |
Midlands |
North |
Wales |
Scotland |
| Number who enjoy spending more than ever |
57 |
44 |
63 |
60 |
63 |
60 |
38 |
| Numbers who buy luxury items at least once a week |
51 |
47 |
50 |
49 |
51 |
49 |
65 |
| Number who feel that they deserve to buy new things. |
11 |
8 |
14 |
16 |
6 |
16 |
0 |
| Number who enjoy impulse shopping. |
8 |
5 |
11 |
13
|
1 |
13
|
0 |
| Number who enjoy shopping as a leisure pursuit as they have more time |
29 |
25 |
33 |
23 |
35 |
23 |
27 |
| Number who splash out on sports cars etc to relive their younger years. |
3 |
2 |
2 |
2 |
3 |
2 |
0 |
For further information please telephone 0845 246 0355 or buy online at www.directline.com
-ends-
Simon Ziviani / Direct Line Press Office
Tel: 0845 878 2270 / simon.ziviani@directline.com
Graz Belli /Band & Brown Communications
Tel: 0207 419 6936 / graz@bbpr.com
Notes to editor
Research –
The research was carried out online between 29th –3rd May 2005. YouGov interviewed a total of 2,032 UK adults aged 18 and above. Results were weighted to be representative of the UK population.
1Over-50s men spent £11,695,704,010 on goods in 2004 (see point 2). Over-50s women spent £8,337,091,613 on goods in 2004 (see point 3). Therefore, over-50s men spend £3.3 billion more than over-50s women.
2Total over-50 male population: 8,975,293. 83% of over 50s men bought goods in 2004 = 7,449,493. Average spend/year = £1570. Therefore total spend = £11,695,704,010
2 Total over-50 female population: 10,624,559.76% of over 50s women have bought = 8,074,665. Average spend/year = 1032.5. total spend = £8,337,091,613
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