Observatoire de la consommation 2016

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Press conference of 2 February 2016#SilverEco @obs_cetelem

IS THE SILVER ECONOMY ENTERING ITS GOLDEN AGE?

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Flavien NeuvyHead of L’Observatoire Cetelem

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METHODOLOGY All economic and sociological analyses, as well as forecasts, were performed in

conjunction with the survey and consulting firm BIPE. Survey conducted via the web by TNS-Sofres in November 2015 (TNS_LSR

panel) based on the quota method. The sample comprised men and women aged 18 to 75 representative of the

population in each country. This representativeness was ensured by applying the quota method to various criteria: gender, age, region and social class. In total, 10,600 interviews were performed, i.e., 800 interviews per country, except for France, where 1,000 interviews took place.

13 countries: Germany, Belgium, Denmark, Spain, France, Italy, Portugal, United Kingdom, Hungary, Poland, Czech Republic, Slovakia and Romania

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CONSUMER SPENDING IN EUROPE: THE UPTURN CONTINUES

SENIORS, LOVING LIFE (SOCIABLY)!

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TABLE OF CONTENTS

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HUMAN CONSUMERS WITH DIGITAL TENDENCIES

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CONSUMER SPENDING IN EUROPE: THE UPTURN CONTINUES

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Growth: the gaps are shrinkingGDP growth of the countries examined by L’Observatoire Cetelem

(e): Bipe estimates - (*) ForecastsSource: European Commission, November 2015 forecasts.

2015 (e) 2016* 2017*Germany 1.7 1.9 1.9

Belgium 1.3 1.3 1.7

Spain 3.1 2.7 2.4

France 1.1 1.4 1.7

Italy 0.9 1.5 1.4

Portugal 1.7 1.7 1.8

United Kingdom 2.5 2.4 2.2

Hungary 2.9 2.2 2.5

Poland 3.5 3.5 3.5

Czech Republic 4.3 2.2 2.7

Slovakia 3.2 2.9 3.3

Romania 3.5 4.1 3.6

Denmark 1.6 2.0 1.8

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How would you rate the overall situation in your country on a scale of 1 to 10?

Source: L’Observatoire Cetelem 2016

DE BE ES FR IT PT UK HU PL CZ SK RO DK

6.4

5.2

3.2 4.0

3.4 3.2

5.4

3.3

4.4 4.5 3.9

4.3 4.6

5.7 5.1

4.1 4.4 4.1 3.5

5.4

3.9 4.6 4.6 4.4 4.2

5.9

4.7

Average for all

countries

Score out of 10 in 2015 Score out of 10 in 2016

Europeans believe that the economic situation is better

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Personal circumstancesHow would you rate your current personal circumstances on a scale of 1 to 10?


6.3 5.8

4.9 5.6

5.0 4.6

6.1

4.4 4.7 4.9 4.6

5.1 5.5

6.2 6.2

5.2 5.5 5.4 4.7

6.2

4.3 5.0 5.2 5.0

5.4

6.2 5.6


Average for all

countries

Score out of 10 in 2015 Score out of 10 in 2016

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Spending power: a negative perceptionOver the last 12 months, would you say that your spending power…Subtotal "Somewhat" and "Significantly" (in %)

DE BE ES FR IT PT UK HU PL CZ SK RO DK13-

country average

Has increased 20 12 16 7 10 11 20 17 21 22 20 28 18 16

Has remained stable 51 39 45 35 47 33 58 44 47 46 51 41 56 47

Has fallen 29 48 39 58 44 57 22 40 33 31 19 31 27 37


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Seniors, loving life (sociably)! 2

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Seniors: who are they?

Source: Eurostat

"Senior" is a subjective term and there is no officially agreed definition. It is used in various fields to describe highly disparate age ranges.

Meanwhile, sociologists have pointed out the advantages of reasoning in terms of people's life cycles.

For its 2016 survey, L’Observatoire Cetelem was keen to examine the lifestyles, expectations and spending habits of working seniors and retired active seniors alike, i.e., those aged 50 to 75.

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Seniors enjoy ever growing demographic clout

50-59 year olds 60-74 year olds 75-84 year olds Over 85s

Number of consumers 59 million 67 million 28 million 10.5 million

% of the overall population this age group represents 13.8% 15.7% 6.5% 2.5%

Source: Eurostat

Over 50s represent 38.5% of the total population of the countries surveyed.They will represent 44.1% of the population in 2030 and 45.9% in 2050.

Scope: countries of L’Observatoire Cetelem

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The profile of seniors

Their parents

At least one living parent 46%

5%At least one parent living at their home

41%At least one parent

living elsewhere

Their children

At least one child 79%

65%At least one child living elsewhere

32%At least one child still

living at home

43% 56%

17% 76%

6% 51%

2% 29%

50-59 year olds

60-75 year olds


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A worried generation... Are you concerned about your children's future professional and personal circumstances?In %

Are you concerned about the well-being and personal circumstances of your parents, parents-in-law or grandparents?In %

Very concernedSpain 92%Portugal 88%Italy 85%France 83%Hungary 80%

Not too concernedCzech Republic 37%UK 37%Germany 35%

36%

28%

23%

13%

Very Somewhat A littleNot at

all

22%

30%

27%

21%

Very Somewhat A little Not at all

Source: L’Observatoire Cetelem de la Consommation 2016; scope: seniors with children, (great-)grandchildren or parents.

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...but one that shows solidarityWould you say that you contribute, occasionally or regularly, to financing the following expense items of at least one of your descendants or ancestors who do not live in your home:Subtotal "occasionally" and "regularly" in %, 13-country average

38%Housing

63%Day-to-day expenses

56%Durable goods

52%Savings

78%At least one of these expense

items

Descendants

Ancestors 14%Housing

33%Day-to-day expenses

24%Durable goods

13%Savings

39%At least one

expense item

Source: L’Observatoire Cetelem de la Consommation 2016; scope: seniors with descendants or ancestors who do not live in their home.

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Human consumers with digital tendencies 3

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Almost 2 hours a day on the internetOn average, how much time per week do you spend on the following activities? Surfing the web / Watching television

Seniors 13hrs 15min 13hrs 45minNon-seniors 12hrs 15min 9hrs 15min Under 35s 12hrs 15min 7hrs 45min35-50 year olds 12hrs 20min 11hrs 00min50-59 year olds 13hrs 15min 13hrs 10min60-75 year olds 13hrs 15min 14hrs 30min

Source: L’Observatoire Cetelem de la Consommation 2016

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Seniors view the collaborative economy less positively than young peopleWhat is your opinion of the services available within the collaborative and sharing economy?Subtotal "somewhat" and "very" positive in %


69%76% 78%

84% 80% 84%

66%60%

70%64%

69%61%

78%

60%66%

72%76% 76%

72%

39%46%

52% 49% 47%38%

67%


Non-seniors, 13-country average: 73% Seniors, 13-country average: 61%

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A desire to see and touch productsWhy don't you regularly purchase these products via the internet?Several answers possible. In grey: no significant difference between seniors and non-seniors.

Ranking among seniors Food Clothes Household electrical goods Travel Leisure Electronic

devices Furniture Senior average

1. I like to see/touch a product before I buy it

S: 76% 80% 65%

43% 58% 67%65%

NS: 71% 73% 54% 39% 53% 63%

2. I enjoy going out to shops52% 50% 42% 24% 37% 39% 42%

41%44% 45% 34% 22% 32% 32% 35%

3. Force of habit38% 27% 24% 30% 31% 22% 21%

28%39% 27% 23% 27% 29% 21% 20%

4. I do not trust online payment systems

8% 18% 42% 33% 14% 41% 24%26%

10% 19% 40% 31% 14% 34% 21%

5. I need the advice of a sales assistant

16% 17% 20% 28% 21% 20% 17%20%

15% 17% 23% 29% 20% 19% 15%

6. I can't easily access the internet

8% 7% 8% 12% 11% 8% 9%9%

9% 10% 11% 18% 14% 11% 10%


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The internet: crucial when searching for informationBefore buying durable goods, do you...Positive answers (very often or quite often) in %


69 7268 69

80

7280

7280

8581 83 82

74

50 46 46 49

59

44

6457

67

76

6461

40

5556 57 5850

66 69

60

75 7377

61

74 71

61

Seek information on specialist websites or in the press

Read comments posted on the internet

Average for all

countries

Visit price comparison sites


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Purchasing criteria: value for money first and foremostWhen you buy durable goods, what are the five main criteria that govern your choice? Positive answers in %

Seniors Non-seniors Difference

Price 82% 77%

Quality 71% 65%

Functionality 51% 47%

Environmental friendliness 31% 21%

Appearance 28% 36%

Brand 26% 30%

Country of origin 13% 9%

Consumer opinion 7% 17%

Advice from a sales assistant 7% 7%

Opinions of people you know 7% 11%


+5

+6

+4

+10

-8

-4

+5

-10

0

-4

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Seniors are less sensitive to advertisingIn general, do you pay attention to brand advertising?Positive answers in %

9%

4%

47%

39%

35%

42%

9%

15%

Yes, a lot of attention

Seniors

Non-seniors

Yes, some attention

No, not much attention

No, not at all


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Brand advertising: differing expectationsWhat are the three main criteria an advertisement must meet to grab your attention? (maximum of three answers)Positive answers in %

8%

23%

25%

33%

46%

47%

61%

14%

30%

28%

34%

36%

46%

50%It must convey emotion

It must be funny

It must embody values

It must surprise you

It must centre on product characteristics

The music must be striking

It must be possible to identify with the actors


Non-seniors Seniors

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Thank you for your attentionQ & A

www.observatoirecetelem.com#SilverEco @obs_cetelem

Observatoire de la consommation 2016

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