The Innovation Diaries

There’s a new target market in town. Analysts estimate that this powerful group of consumers, who account for 14 per cent of the population, have £23bn to spend on discretionary items, such as clothing and books, even in a downturn. Most are retired and settled at their financial peaks in pleasant locales, such as Guildford, Winchester and Tunbridge Wells. They are unfazed by house prices as they are mortgage-free and the children have left home. Their savings will be double, often treble, the norm.

The Silver Foxes are a fifty-something couple living in Epsom, Surrey. He manages the finances, she buys his Y-fronts at Marks & Spencer. They are well-informed readers who keep on top of the financial pages. Their favourite food stores are Sainsbury’s and M&S, but they also have a penchant for John Lewis.