Over 55: the real driving force of Italian mass consumption

They are responsible for purchasing in over half of families and spend more on average, stimulating 54% of the value of mass consumption. (YouGov)

According to a global study by Bcg, women manage approximately 32,000 billion dollars of spending globally and according to Nielsen, in the next five years 75% of discretionary spending will depend on them. Furthermore, in 51% of Italian families, the person in charge of purchases is at least 55 years old. This data was revealed through a survey conducted on the Italian YouGov consumer panel.

Over 55s also buy consumer goods for their grandchildren

According to the research, the average expenditure per buyer over 55 per year is 4,700 euros, far higher than the 3,900 euros of the younger age groups. It should however also be noted that over 4 out of 10 people in this senior group support the non-cohabiting families of their adult children by purchasing consumer products for their grandchildren (42%) or for their children (13%). In this case they do so approximately five times a month for their grandchildren and four times for their non-cohabiting adult children. When purchasing, the characteristics that matter most are whether the grandchildren like them, the absence of additives or preservatives and the origin (Italian) of the ingredients. Following this, attention is paid to the brand, organic ingredients, quality flavour, and nutritional content. Here promotions and low prices are much less important than they are when purchasing for cohabiting family members. Among the most purchased categories for grandchildren are biscuits and industrial pastries, fruit juices, yogurt and fresh desserts, chocolate, packaged ice cream, while for non-cohabiting children the choices fall on fresh (cheese, cured meats, etc.), fruit and vegetables.

More time to shop and bigger budgets lead to less impulsive buying

Overall, in line with the evidence above, we are talking about a target that attributes an important role both to the home (91% of respondents declare themselves attentive to cleanliness and hygiene) and to the family, with 88% agreeing in indicating the time spent with the latter as their favourite activity. All combined with an active social life, where time is also spent outside the home: 85% meet friends, 57% eat out while 47% practice physical or sporting activity.

In terms of spending, shoppers over 55 are more oriented towards quality, which prevails over price as a criterion of choice for 52% (while 59% of under 55s prefer to spend less). There is also room for the purchase of Italian products (81% favour them compared to 70% of younger people) and locally sourced products (73% vs 64%). Time available also influences choices: only 24% say they have little time to dedicate to daily shopping, compared to 38% of under 55s. All in all, this group presents a very good opportunity for the food industry.

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