These conservative, middle aged, white collar workers live in the suburbs, accrue modest savings and use credit with extreme care. They are a good target for mortgage deals and home improvements
Research has identified a small segment of conservative, hard-working, white-collar parents in their middle years. Marketers will be keen to seek out these above-average earning Conventional Progression consumers for mortgage deals and car loans, as well as DIY, gardening and home improvement propositions.
The Conventional Progression category is typified by couples in their late 40s and early 50s. They represent the 'silent majority' of quiet, hard-working Englanders. In the Eighties, they would have been the foot- soldiers of Thatcherism, but today they toil, save and respect the law as they read the Daily Mail and maintain the Neighbourhood Watch scheme.
The research was based on analysis of over 300 data variables from publicly available data and Experian data. The category accounts for 2.5 per cent of UK households (about 639,562 in total).
Conventional Progression consumers have made steady progress throughout their working lives. They have saved, contributed to adequate occupational pensions and made good progress towards paying off their mortgages.
They now have reasonable equity on their mid-value semi-detached houses, typically in smaller towns and suburbs.
With children in their teens, modest savings - often in Premium Bonds and ISAs - are set aside for the future financial burden of university.
Conventional Progression consumers use credit prudently. Loans are taken only for major purchases such as cars, credit cards are used as a cash flow tool and balances are usually cleared in full each month.
Those in the category like to enjoy the good life within reason. Holidays are as likely to be taken in a caravan in the UK as on a package holiday in the Mediterranean.
TV is the main source of entertainment, while the home and garden are a major focus of leisure time and expenditure. Weekends are often taken up with DIY projects. Larger home improvements, such as new kitchens and conservatories, are also high on the agenda.
Conventional Progression consumers are comfortable with adopting new technologies - often led by their teenage children. Most have broadband Internet access.
Those in this group are firmly rooted in their communities. They have conventional lifestyles and unpretentious tastes, preferring value-for- money propositions to the latest fashion and lifestyle imagery. They do not seek out novelty but prefer well-known brands, although they will switch their business to another provider if they can get a better deal.
Analysis of forenames of those in the Conventional Progression category shows a disproportionate number of Grahams and Lindas.
Consumers in this category are not distributed equally across the UK. The South East of England contains a disproportionate number (over 1.25 times the UK average), while the South West of England is also well over-represented.
Towns and cities with the largest concentrations of Conventional Progression consumers include Hempstead Valley, Bexleyheath and Romford, all of which contain over 2.5 times more than average, relative to their overall population. The research also identifies neighbourhoods where over 15 per cent of residents are classified as Conventional Progression (over five times the UK average). These include DA16 1 in Welling, L16 4 in Liverpool and RN12 5 near Romford.
This research can support a wide variety of applications, including new customer acquisition, customer management and development, product and proposition development and customer retention/win-back.
Information supplied by Charlie Horner, head of customer insight at Experian
The Facts
Graham is a policeman and Linda is a part-time supply teacher. Their two kids, Gemma and Luke, are in their teens. They take good care of the car and the garden and have kept up with new technology with a broadband connection. Graham and Linda have accumulated minor savings and have paid off most of the mortgage on their semi-detached house. They have three credit cards, two of them 0%, and they usually clear these at the end of the month. Graham and Linda are now looking forward to the kids flying the nest and their eventual retirement, which might provide an opportunity to sell the house in the suburbs and move to the countryside, where Graham can enjoy the rural ambience and Linda the safe community atmosphere. For now, the couple are just getting by, doing their best to fulfil their duties and obligations in a world they feel is slowly forgetting the meaning of these terms.
Copyright: Centaur Communications Ltd. and licensors
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