The over 50’s hold a large share of wealth (around three-quarters of UK financial wealth)
- The over 50’s drive a majority of consumer spending.
- The over 50’s spend around £600 billion per year in the UK economy. That is approximately 50–60p of every £1 spent in the UK economy.
- The over 50’s will account for about 63p in every £1 spent in the UK by 2040.
- The Largest category of spending is retail accounting for well over half of all UK retail consumption.
- Retail spend of the over 50’s typically makes up ~30–40% of total household spending. That is between £180bn–£240bn per year from over-50s in retail alone.
- The over 50’s are more brand-loyal and less price-sensitive.
- The over 50’s have a higher spend on quality, convenience, and health-related products.
- The over 50’s have a strong presence in supermarkets and everyday retail, not just luxury.
- The over 50’s care about customer service!
Calderdale has an ageing population with spending power
- 40% of Calderdale’s population are over 50 – that is just over 84,000 people.
- The average age of Calderdale’s population is 42 (2 years older than the national average).
- Applying UK spending patterns (where over 50’s account for 50-60% of all consumer spending).
- The over 50’s in Calderdale account for £1.8bn – £2.4bn spent in the local economy.
- Halifax is the dominant centre for spending as the main retail and employment hub but all towns in Calderdale rely on the over 50’s for economic stability.
What do you gain by being Age Friendly?
- Higher spend per visit.
- More loyal repeat customers.
- Stronger weekday trade.
- Year-round income (not just peaks).
How do I become Age Friendly?
- It’s simple – email agefriendly@calderdale.gov.uk for an information pack.
Complete 3 quick checklists to demonstrate that you are Age Friendly
- Return it to agefriendly@calderdale.gov.uk
- Get a window sticker and a listing at Age Friendly Calderdale (Calderdale Forum 50 Plus & Calder Connect).
- Join the Age Friendly Calderdale Network.