UK businesses need to wake up to the spending power of around two million over 55 year olds who have the highest disposable income of any other consumer group, a new report has claimed.
According to Royal Mail, people aged over 55 which it named the "charmed generation" - have a net capital worth of around 1bn, a level of wealth not expected to be achieved by future generations.
The postal business said the group spends the most on luxury goods and services, makes over half of all new car purchases and takes 37% more holidays a year than any other age range. It added that they are also increasingly becoming a source of finance and buying influence for their children and grandchildren's purchasing.
"This group of cash-rich consumers has evolved as a result of affordable housing in the 1960s,...