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Experian Reveals The Changing Face Of UK Society
July 28, 2009
Below is a section of a press release issue by our parent company Experian about the update to their consumer classification - Mosaic UK, which Hitwise UK has had integrated into the Hitwise UK product for a number of years. This press release explains some of the interesting changes that have occurred in British Society since 2003. Hitwise contributed to Mosaic UK 2009 by providing insight into which consumers are using the internet for shopping, sourcing information and social networking allowing Mosaic UK to describe the new "network society".
MOSAIC UK 2009:
EXPERIAN REVEALS THE CHANGING FACE OF UK SOCIETY
Experian’s market leading consumer classification – Mosaic UK – has now been comprehensively rebuilt and updated to reflect important demographic and social changes that have occurred in contemporary British society since 2003. The new classification has been re-built with a range of additional data sources to encompass a more detailed understanding of the ageing population, recent changes in household composition, the growth in ethnic diversity and the impact of the Internet in the new network society.
Mosaic is Experian’s market leading people classification and is used by thousands of commercial and not-for-profit organisations to gain insight into local consumer markets, behaviours and lifestyles. Mosaic is used in the commercial sector to map, analyse and target markets at person, household and postcode level. It is used as a key tool in targeted marketing e.g. customer communication, prospect recruitment, local marketing and branch network planning.
Mosaic UK 2009 draws on over 440 separate pieces of compliant public and proprietary sourced information for each of the UK’s 48 million adults – a total of 21 billion individual data items to create a rich and detailed picture of modern British society. Following the re-build, the classification now incorporates 15 lifestyle groups, 67 lifestyle types and 141 person types. The re-built classification will be updated every six months to provide a continuously contemporary view of UK consumers at person, household and postcode level.
Mosaic UK 2009 includes a number of new consumer groups such as Alpha Territory, Active Retirement, Small Town Diversity and Terraced Melting Pot. Some of the more significant social trends identified in the new version of Mosaic are:
• Ageing Society. It is estimated there will be three million more people over 55 by 2019 but Mosaic makes a distinction between the active and less active phases of retirement. The new classification recognises the increasingly active nature of early retirement years (with the commercial opportunities this presents) and the latter phases which require more health and social care. Mosaic also identifies a move away from the traditional south coast retirement towns with many more affluent retirees - ‘Country Loving Elders’ - moving inland to historical and cultural towns while others - ‘Beachcombers’ - seek more exclusive seaside villages and expensive holiday destinations.
• Mosaic UK 2009 has identified a small but an exceptionally wealthy section of British Society. Representing some 3 per cent of the UK population, ‘Alpha Territory’ includes people that have received substantial injections of capital over and above their already high incomes, such as from bonuses, share options or the sale of businesses. This elite includes individuals from the public as well as commercial sector.
• Change in household composition. The last ten years have seen a massive rise in single person households. This has created a mismatch between housing supply (typically three bedroom houses built for families) and actual housing needs. Mosaic UK 2009 recognises the growth in all types of single occupancy, including ‘Crash Pad Professionals’ living in flats on brown field sites, ‘Side Street Singles’, ‘Small Block Singles’ and ‘Bright Young Things’. A significant trend, identified by Mosaic, has been the growth in concentrated student populations which has fuelled an increase in multi-occupancy households dominated by single people.
• The network society. The UK has grown from 10 per cent to almost 70 per cent broadband coverage since 2003. This massive transformation has brought a range of new social behaviours as people develop online social networks to keep in touch with family and friends, recommend products, services and experiences and transact business. It has also become a showcase for one’s own personal social capital. Mosaic has identified how different social types use the Internet for a range of new purposes. Mosaic UK 2009 uses Hitwise’s online intelligence to provide the latest insight into which consumers are using the internet for shopping, sourcing information and social networking.
• Impact of recession. By linking Experian’s economic forecasting capabilities to Mosaic UK, Experian identifies the degrees to which different types of people are affected by the current recession. Those most affected include the group ‘Active Retirement’ who have seen their savings and investments seriously eroded, the ‘Professional Rewards’ type which is having to support grown-up children financially and ‘New Homemakers’ who, having bought brand new properties in the last few years, now find themselves in serious negative equity.
The Full Press Release can be read here
Posted by Richard Seymour at 08:37 AM
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