Retirement Retailing …..

You know when a phrase or term becomes embedded in the vocabulary that the minute it’s said you have a mental image – like when people say “he has a Donald Trump” you instantly think comb over hairstyle not business acumen !

So back in December when retail was looking very wobbly again an old brand Alexon which had kind of lost its way and for many years been deprived of capital by the former CEO (mentioning no names) and the new CEO  Jane McNally arrived just as the economy tanked sadly went under – it was bought out of administration by US private equity firm Sun Capital Partners – now Sun Capital Partners have been quietly buying up big chucks of the fashion industry – they now own all the Alexon stable of brands which includes Alexon – Ann Harvey – Dash – Eastex – Lazy Lu – Kaliko and Minute Petit – plus they have bought Jacques Vert a brand known as the go to brand for mother of the bride or groom – it also has as part of the group Planet and Windsmoor – so when the lovely business reporter in the Independent Laura Chesters was writing this up she coined the phrase 'retirement' retailers ……… and it’s stuck.

Now when people think of retirement retailing they assume those ads in the back of the weekend magazines or the Lady which sell sensible but frumpy clothes – semi elasticated waists – Velcro shoes you know what I mean – so I am appealing to everyone please they are not retirement retailers – they are aimed at the affluent section of the population – so quit using it and none of this grey pound either thanks I spend a fortune and so do all my friends hiding the pesky grey hairs  – foxy blonde takes a lot of money to maintain thanks ……..I will be adding a PayPal button for donations later.

Laura honey I do love you but by saying this you perpetuate the myth we are frumpy as soon as we hit 40+ - I know Blessed St. Mary of the High Street Portas has done much to change this perception with her range  

As I write this I’m wearing the “No Brainer “ dress in purple  – Mary's Charnos 40 denier tights and yes if you want the full nitty gritty Mary's design Charnos bra and knickers plus I have her La Wesley shoes on in black which now makes me sound like a groupie but here is the kill a few years ago right down to the knickers and tights I would have been wearing M&S & so would every other women my age……….. But they forgot me well actually they did try with that pathetic Portfolio brand which was just insulting and has now been put down.

So can all journalists (I will add names and shame later if needs be)  think of another name to call this age group and let me say from the off “Cougar “is banned – remember I know where you work so think on – so no retirement – grey or animals please and the reason why you need a new name well they will be the only retailers taking money and prospering & you'll be writing about this sector at long last (silently Mrs. D looks skywards and mouths hallelujah) – if you need to think of a fabulous woman in this age group to visualise the phrase think Nigella not Nora Batty.

Actually Sun Capital Partners have been very canny in buying huge chunks aimed at this age sector if they get their act together and lose the frump and actually talk to us instead of assuming we know they are for us …… they will make a killing – let’s look at the stalking dark horse who has been attempting to buy big chunks of the High Street Edinburgh Woollen Mills – money made from this age sector.

I got this wonderful link today via Maureen Hinton aka @maureen_verdict on twitter with these pertinent facts ……

The 45yr+ population is set to grow for the foreseeable future yet clothing retailers have been slow to address the potential this market presents. 45+ women shop less often but are willing to spend more, yet are uninspired to do so. This report evaluates the womenswear market by three 45+ age groups and recommends how retailers can maximise the full potential these women offer.

Now look at how much we spend …….

Women aged 45 and over will spend £11.1bn on women's clothing in 2011 - £1bn more than the under 45s. This segment of the population will continue to grow each year for the foreseeable future delivering long term growth opportunities. By 2036 they will have increased from 14.0 million to 17.7 million and account for 57.5% of the female population.

55–64 year olds have the highest spend per head of this group at £818 on average each per year. Often they are at the peak of their careers, still working and with fewer domestic commitments. Indeed with extended pension ages these women will have to work longer and will need a working wardrobe well into their mid–60s.

65+s account for the largest market at £4.47bn though spend per head is the lowest of all age groups at £764; they are the most numerous. They may be on limited incomes but they still want to buy attractive, affordable, clothes to match their lifestyles. M&S dominates but the new 65+s are looking elsewhere for more inspiring and relevant offers.

So not shabby and also think on one day you’ll be part of this wonderful age group and the thought of being referred to as the grey pound might get on your Charnos clad exactly!