Saga operates in a dynamic environment across multiple sectors to meet the needs of its target demographic, the UK’s over 50s. We regularly review the trends and factors influencing our customers and markets to identify opportunities and risks and ensure we remain agile.

Saga’s target market is one of the fastest growing, most affluent and influential in the UK. The needs of this demographic are continuously evolving, driven by longer periods in both employment and retirement. In 2018, the UK’s over 50’s totalled 24.9m and represented close to 40% of the entire UK population. The growth of this demographic is expected to continue reaching c.30m individuals by 2044.

This demographic holds 75% of the UK’s household wealth. The pursuit of more active lifestyles continues to be a key trend. Fifty-four percent of the UK’s total expenditure on leisure, culture, food, recreation and heath is made by this segment.

Saga continues to invest in strengthening its customer insights and ability to stay abreast changing sentiments and behavioural traits of its target customer. This investment ensures that as a business, Saga, continues to evolve to ensure its relevance amongst today’s over 50s.

Vulnerable customers

We recognise that some of our customers need more attention than others. There are dedicated teams throughout the business to ensure that vulnerable customers are identified and given what help they need. For example, Saga has had active pricing processes in place for several years and increasing numbers of long-standing customers, who may be perceived as vulnerable, have seen their renewal premium either frozen of reduced as a result. 

Competition for customers

Saga competes for business with many providers within the sectors in which it operates. Whilst our brand as the over 50s specialist in the UK is particularly strong we do not have a monopoly. Competition for customers continues to increase notably in the more commoditised parts of the insurance and travel markets, with our customers able to buy simple and cheap products very easily on-line. In this landscape, it is increasingly important that Saga offers differentiated products and services that will give its customers and members a compelling reason to come to us and stay with us.