The well-being index falls further this week, registering at 37 – a 5 point drop indicating that the uncertainty felt last week remains present.
Overall well-being amongst the male demographic continues to fall, with 31% feeling happy with their lot. Following the high spirits amongst the female demographic in previous weeks, they too register a drop, with 42% feeling content. Marketers will be hoping to drive morale back up with fresh campaigns, now that football is no longer the main focus for the country thanks to the close of the World Cup.
Interestingly, it is the younger generation (16 to 34 year olds) and the grey market (55 to 74 year olds) who have the greatest fluctuations this week. Both register significant drops in happiness and financial stability. Perhaps the plans recently announced by the coalition Government to raise retirement age every five years is behind this latest bout of instability.
With the long term impact of this currently unknown, the future looks uncertain for both. As 18% of 16 to 34 year olds and 27% of 54 to 75 year olds questioned feeling financially stable, the data this week reflects their concern. Marketers must ensure they take note of this, tailoring campaigns to the changing needs of both groups. The proposed Government retirement changes mean the younger generations will be working longer in order to support the older, which could bring tension between the two. This is something cross generation brands must adapt to accordingly to ensure they don’t put themselves at a disadvantage.
Here are the results by each demographic:
A decline across all aspects indicates a downbeat mood amongst 16 to 34 year olds this week. With 18% feeling financially stable, perhaps proposed changes by the government to raise retirement age are causing unsettlement amongst this group. Whilst health levels dip slightly this week to 54%, they remain the healthiest demographic.
Whilst there are few fluctuations amongst 35 to 54 year olds this week, marketers should note that this does not necessarily suggest stability. They remain the least content in terms of health, wealth and happiness and this will continue to be reflected in their decisions as consumers and their engagement with campaigns. Exactly 25% are content in terms of overall well-being, significantly lower than the younger generation and grey market.
In contrast to last week, the mood amongst 55 to 74 year olds has dropped, with just 42% feeling content in terms of overall well-being. With recent Government proposals bringing the older generation into focus, perhaps they are feeling more vulnerable and concerned about their future.