A leading financial, insurance and pensions provider (who wanted to remain anonymous) came to us for insights into the mature market.
The Market for Retirement Financial Products
A Consumer Finance Company
A leading financial, insurance and pensions provider (who wanted to remain anonymous) came to us for insights into the mature market.
Research objectives
To better understand the attitudes and behaviour of UK home owners aged 50+ relating to their finances in retirement
Topics explored
Attitudes to retirement
Attitudes to finance in retirement
Preparations being made / formerly made for retirement – investments, savings, etc.
Reactions to financial options in retirement (e.g. equity release, downsizing) and interest in those options
Methodology
An online survey of 4000 home owners aged 50+ was conducted.
Purple Market Research was responsible for the following elements:
Survey design – sample and methodolog
Project management – liaison with our client, problem solving, etc.
Analysis of findings – weighting of data to represent target population, tabulation of survey results, statistical analysis (regression and segmentation)
Charting in collaboration with the client
Presentation of findings in a workshop with key client personnel
Conclusions & Insights
The research provided a segmentation of the target market for financial products in retirement.
It allowed the client to identify, size and profile the market for their products.
