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Main Government and Public Sector Social Studies Singles Market Market Assessment 2007
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Singles Market Market Assessment 2007

DateApr, 2007
Pages178
Price / format$1584 / Online Download

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Abstract:
 Executive Summary
In Social Trends 36, National Statistics predict that single people aged over 65, particularly women, will continue to be a burgeoning consumer group over the outlook period (to 2021). As the UK is an aging population as a society, this is not wholly surprising. What is more exceptional, however, is the continuing growth in one-person households in the UK; the number of people in these households has doubled since 1971 and is set to rise by 53% over the next 20 years, according to Alliance & Leicester (in its Changing UK Household Market report, in conjunction with think tank Centre for Future Studies, published December 2006).

Many of these new households are in the 25 to 64 age groups, with the highest increases being among single men, due to them delaying the age of settling down and getting married. Women tend to get married or cohabit at a younger age and therefore the proportion of single men aged below 35 is higher than that of women in this category. After 35, there is more parity between the sexes.

Many young consumers choose to live alone as an aspirational life choice, before settling down with a chosen partner. These consumers may well be in the more affluent social and economic sectors of society and, in having money and no dependents, form an important target group for marketers. Their high levels of personal disposable income (PDI) propel them towards strong uptake of fast-moving consumer goods (FMCGs) and leisure products such as holidays and entertainment. Single status is non-elected for others. Financially, singles' position is more difficult and their choices are starker. According to National Statistics' Family Resources Survey 2004/2005, almost two-thirds of single parents have no savings at all; earnings are taken up by the high living costs of being alone and bringing up children. Income for single people, particularly those with children, has increased over the past decade through the Working Tax Credit system but it is not enough for the majority of them to feel secure in making future investments. Almost half of single people without children, aged under 65; both men (49%) and women (47%) also have no savings.

Consumer confidence, not surprisingly, is lower among single people than among married couples. The other side of the coin, though, is that single consumers — including the divorced and separated — are also much more likely, through choice or otherwise, to spend rather than save. It would seem that divorce, or relationship breakdown, can bring with it attitudes towards personal finance that make single people needy targets for financial support and advice on investment. Analysis in this report suggests that a significant minority of single people (around a fifth) are buying into financial products. However, the pension gap still looms large and, for single people, this situation is even more potentially worrying.

Despite the financial hazards, single status shows no signs of being a disappearing trend. On the contrary, around two-thirds (66.4%) of all respondents to Key Note's consumer research for this report agreed that spending some time living alone was a good idea. Women as well as men subscribe to this view and younger middle-class women, in particular, are increasingly acting from a position of financial autonomy when it comes to relationships. There was also strong support for the view that being single has more advantages than disadvantages, at almost a third of respondents (32.4%). Divorced (55.1%) and single (45.7%) people were most in agreement and showed perhaps the deepest cynicism of any group towards relationships. They are more inclined to stay single but, on the other hand, also seem to have embraced the lifestyle well. They are active in using dating services as well as taking on new leisure activities to meet a partner. For many consumers, the notion of finding a life partner may be losing its currency. A life spent with some time living alone, some time spent being married or in periods of cohabiting relationships is becoming much more accepted and normal. 52.1% of all respondents to Key Note's survey were still confident that they would find their perfect partner. So, despite some cynicism, romance is still alive and well. Internet dating is a growing trend and there are now a plethora of sites devoted to individual typologies and needs in terms of relationships. Online dating makes looking for a partner much more accessible for busy working people, particularly those of middle age. It also gives people the chance to build up an online relationship with a number of potential partners before taking the big step of going out on a date.

The gay lifestyle is also contributing to the culture of being single, and some of the most successful Internet dating sites are for gay men and women. Gay consumers, many of whom are single, are often role models in terms of the notion of `agelessness' — with people determined to stay young and focused on self-development and enjoying life well into old age. This is not necessarily the domain of only single people, but it can be inferred that `thinking' single, even within relationships, is increasingly informing the zeitgeist.

Holidays are another area in which consumers are beginning to think more independently. More people are going on holiday alone but, in general, consumers are getting more adventurous in terms of travel. There is much more differentiation in terms of branding among holiday companies — with specific brands targeted at older consumers: for example, the young single — and it is likely that this trend will grow. Child-free cruises are an area of exploration for one tour operator, but more packages for more independent-minded travellers (who are not necessarily single) may well develop over the outlook period (to 2021). `Eco holidays' and even more offerings for single parents may all add variety to the standard sun-and-sand holiday package offered. As with dating, the Internet is at the heart of these developments, offering more choice to consumers and opening up more competition among providers.

The future is mixed in terms of the economic outlook for single people. An increasing polarisation could become more marked over time: between young, affluent professional singles who will continue to have attractive choices in terms of consumer goods and leisure activities, and those who are forced into single status through circumstances. The latter group may continue to struggle, finding saving difficult and being unable to support their children through higher education. What is certain is that the number of one-person households will increase over the next 2 decades, and that there is an opportunity on the part of Government as well as industry, to make the best use of this resource.


Table of contents:
Executive Summary
1. Introduction
REPORT FOCUS
DEFINITION
2. Strategic Overview
DEMOGRAPHIC BACKGROUND
Population by Age and Sex
Table 1: The UK Population by Age and Sex (000), 1971, 1981, 1991, 2001, 2004, 2011 and 2021
Marriage and Divorce Trends in the UK
Table 2: Number of Marriages, Divorces and Remarriages in the UK (000), 1963, 1973, 1983,1993 and 2003
Population by Marital Status
Table 3: Marital Status of the UK Adult Population by Sex (%), 2004/2005
Cohabiting
Table 4: Marital Status of Non-Married Cohabitees in the UK by Sex (%), 2004/2005
Single Status
Table 5: Marital Status of the UK Adult Population by Sex by Age (% and 000), 2004/2005
Family Formation
Table 6: Average Age of Mother by Birth Order in England and Wales, 1971, 1981, 1991, 2001 and 2004
Single Persons Living Alone by Age
Table 7: People in Households by Type of Household and Family, and Population in Great Britain (% and million), 1971, 1981, 1991, 2001 and 2005
One-Person Households
Table 8: Percentage of Adults Living in One-Person Households by Sex and Age, 1986/1987 and 2004/2005
Adults Living With Parents
Table 9: Adults in England Living With Their Parents by Sex and Age (%), 1991, 2001, 2002 and 2004-2005
HOUSING
Household Tenure by Marital Status
Table 10: Tenure in the UK by Marital Status of Household Reference Person — Men (%), 2004/2005
Table 11: Tenure in the UK by Sex and Marital Status of Household Reference Person — Women (%), 2004/2005
Singles and the Housing Market
Location, Location
THE ECONOMY
EMPLOYMENT
Table 12: UK Economic Activity Levels (000), 1975, 1985, 1995 and 2005
Table 13: UK Employment Rates by Sex (%), 1975, 1985, 1995 and 2005
SummarY
3. Shopping
HOUSEHOLD INCOME
Table 14: Median Weekly Net Individual Income by Sex and Family Type (£ and %), 2003/2004
HOUSEHOLD EXPENDITURE
Table 15: UK Volume of Household Expenditure (index 1971=100 and £bn), 1971, 1981, 1991, 2001 and 2004
CONSUMER CONFIDENCE
Table 16: Consumer Confidence (% of respondents), 2005
SHOPPING HABITS
Table 17: Shopping as a Social Activity (% of respondents), 2005
Weekly Shop Is No More
4. Finance
GENERAL OVERVIEW
Table 18: Benefit Units in the UK by Amount of Savings and Total Weekly Household Income (% of benefit units), 2004/2005
ATTITUDES TOWARDS PERSONAL FINANCE
Spending or Saving
Table 19: Spending Versus Saving (% of respondents), 2007
Buying Financial Products
Table 20: Purchasing of Financial Products (% of respondents), 2007
Pension Cover
Table 21: Attitudes Towards Pension Cover (% of respondents), 2007
Taking Financial Advice
Table 22: Use of an Independent Financial Adviser (% of respondents), 2007
5. The Single Lifestyle
GENERAL OVERVIEW
ATTITUDES TOWARDS BEING SINGLE
Living Alone
Table 23: Attitudes Towards Living Alone (% of respondents), 2007
Staying Single
Table 24: Attitudes Towards Being Single (% of respondents), 2007
Marital Status
Table 25: Attitudes Towards Marital Status (% of respondents), 2007
Meeting a Partner
Table 26: Attitudes Towards Meeting a Partner (% of respondents), 2007
Dating Services
Table 27: Attitudes Towards Dating Services (% of respondents), 2007
Workplace Romance
Table 28: Attitudes Towards Meeting a New Partner at Work (% of respondents), 2007
Taking Up New Activities
Table 29: Taking Up a New Leisure Activity in Order to Meet a New Partner (% of respondents), 2007
CONCLUsion
6. The Holiday Market
General Overview
TRAVEL Abroad
Table 30: Visits Abroad and Total Expenditure by UK Residents (000 and £m), 1985, 1990, 1995, 2000 and 2005
Table 31: The Total UK Activity Holiday Market by Sector by Value (£bn and %), 2001-2005
SINGLE HOLIDAYMAKERS
FOREIGN DESTINATIONS
Table 32: Top Five Foreign Holiday Destinations by Number of Visits by Country of Visit (million), 2001-2005
THE SINGLE HOLIDAYMAKER
Table 33: Single People Taking Holidays (% of adults), 2006
ACTIVITY HOLIDAYS
Table 34: All Activity Holidays Taken During the Past 5 Years (% of respondents), 2005
TOUR OPERATORS
SINGLES-ONLY PROVIDERS
7. The Gay Consumer
GENERAL OVERVIEW
A SHIFT IN ATTITUDES
GAY DEMOGRAPHICS
Table 35: Number of UK Civil Partnerships by Sex and Age Group (number and %), December 2005-September 2006
GAY CONSUMER TRENDS
GAY TRAVEL
CULTURE
THE CULTURE OF AGELESSNESS
Agelessness and Beauty
8. Consumer Dynamics
INTRODUCTION
CONSUMER CONFIDENCE AND SHOPPING HABITS
Table 36: Consumer Confidence (% of respondents), 2005
Shopping Habits
Table 37: Shopping as a Social Activity (% of respondents), 2005
Weekly Shop Is No More
FINANCE
Spending or Saving
Table 38: Spending Versus Saving (% of respondents), 2007
Buying Financial Products
Table 39: Purchasing of Financial Products (% of respondents), 2007
Pension Cover
Table 40: Attitudes Towards Pension Cover (% of respondents), 2007
Taking Financial Advice
Table 41: Use of an Independent Financial Adviser (% of respondents), 2007
THE SINGLE LIFESTYLE
Attitudes Towards Living Alone
Table 42: Attitudes Towards Living Alone (% of respondents), 2007
Staying Single
Table 43: Attitudes Towards Being Single (% of respondents), 2007
Marital Status
Table 44: Attitudes Towards Marital Status (% of respondents), 2007
Meeting a Partner
Table 45: Attitudes Towards Meeting a Partner (% of respondents), 2007
Dating Services
Table 46: Attitudes Towards Dating Services (% of respondents), 2007
Workplace Romance
Table 47: Attitudes Towards Meeting a New Partner at Work (% of respondents), 2007
Taking Up New Activities
Table 48: Taking Up a New Leisure Activity in Order to Meet a New Partner (% of respondents), 2007
THE HOLIDAY MARKET
Activity Holidays
Table 49: All Activity Holidays Taken During the Past 5 Years (% of respondents), 2005
9. The Future
GENERAL
FINANCE
DATING
HOLIDAYS
10. Consumer Confidence
METHODOLOGY
KEY FINDINGS THIS QUARTER
THE WILLINGNESS TO BORROW
Confidence Improves
Table A: The Average Amount Consumers Are Willing to Borrow in Order to Purchase Expensive Items at Current and Constant November 2004 Prices (£ and £bn), February 2006-2007
Willingness to Borrow Slips Slightly
Table B: The Number of Adults Willing to Borrow in Order to Purchase Expensive Items (000 and %), February 2006-2007
SPENDING FROM SAVINGS
Slight Increase in Spending from Savings
Table C: The Average Amount Consumers Are Willing to Spend from Savings in Order to Purchase Expensive Items at Current and Constant November 2004 Prices (£ and £bn), February 2006-2007
Saving Grows in Relative Importance
Table D: The Average Amounts Adults Are Confident Spending to Purchase Expensive Items (£ and %), February 2006-2007
11. Further Sources
Publications
General Sources
Government Sources
Other Sources
Bisnode Sources





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