Saga buys insight firm as it vies for 'superbrand' status

Over 50s specialist Saga is aiming to continue its transformation from an organisation associated with elastic waistbands and Zimmer frames to a “superbrand” for older people, with the acquisition of a consumer psychology and insight consultancy that focuses on ageing.

Founded in 2011 by former Nestlé Rowntree brand planner Lisa Edgar, the Big Window Consultancy will become one of the business units within Saga. It will act as its in-house ‘knowledge agency’, creating points of difference for customers across travel, insurance and personal finance, as well as Saga Magazine and online content.

The move is key to Saga’s wider data, digital and brand strategy, which champions what Saga is calling “Generation Experience” – the discerning, sharp and savvy people over 50 who bring a wealth of vibrant life experience to society and represent over a third of the UK population. The strategy is being backed by a major marketing and advertising campaign (pictured), devised by VCCP London, that was launched in October.

Saga customers feel on average of 14 years younger than they are, and – according to research analysed by the Big Window – most people over 50 feel (71%) feel that representation of them in the media is unfairly focused on age. Contrary to stereotypes, the majority lead active lifestyles and feel they have a lot to give.

The over 50s are also the fastest growing demographic in the UK, and one that holds the most spending power comparatively. Some 28.2 million people will be over the age of 50 by 2031 in the UK, and 63p of every £1 will be spent by people over 65 in 2040.

Saga aims to make people think differently about age, ensure people over 50 are not left out of the debate about the need for greater cultural representation.

Big Window Consultancy chief executive Edgar joins the Saga Executive Leadership Team to oversee the unit, which will also serve clients outside of Saga, aiming to provide them with competitive advantage to design unique products and services relevant to what people over 50 think and feel, rather than outdated stereotypes.

She said: “People over 50 tell us that they don’t feel seen for who they really are. Too often they are unfairly stereotyped as older, slower, lower – when the reality is that for millions of people, growing older means greater resilience, adaptability and experience.

“I am delighted to join the Saga team at a time when the business is celebrating the positive aspects of ageing, with a focus on the new experiences and adventures people over 50 want to enjoy. Using data and insight means we can ensure our experienced customers feel respected and valued for their worth.”

Saga Group CEO Euan Sutherland commented: “Our customers tell us they think of themselves as experienced, not old. We want to create experiences that mirror the reality of life for people over 50 in Britain and not just the stereotypes – driving better representation of what it means to be ‘experienced’ in business, advertising and the media.

“Adding the Big Window’s unique capabilities to our business means we are well placed to help drive this change.”

The deal comes as the organisation’s annual results showed it has slashed its losses last year from £61.2m in the year ending January 2020 to £23.5m in the past 12 months, with revenues up from £337.6m to £377.2m.

The company struggled for most of the first half of the year to run its cruise and holiday operations due to Covid restrictions but this year bookings are already at 73% capacity.

Sutherland added: “This performance is a testament to the resilience and determination of our wonderful colleagues, and I would like to thank them for their hard work and dedication through what has been a challenging period.

“Our growth plan will see us focused on maximising our existing businesses, reducing our debt while step-changing our ability to scale the business and positioning Saga as ‘the superbrand’ for older people.

“We already have a strong brand, management team and financial position – all the tools required to return the business to sustainable growth and create long-term value for our stakeholders.”