Singles spend €3,000 on pampering

SINGLETONS are splashing out an average of €3,000 a year on alcohol, gourmet food and pamper products such as grooming and cosmetics.

People who live alone now account for a third of all households in western Europe and have a spending power estimated at €150bn a year, according to a report from independent market analyst Datamonitor.

It says the number of people choosing to live alone is soaring and their profile of being lonely pensioners or students squatting in a garret is no longer accurate.

Instead they are affluent professionals with a desire to spend their hard-earned cash on themselves.

Single person households spend 50% more per person on consumer packaged goods (CPG) than two adult households.

Counting alcohol, quality food and pamper goods, each single person spends an average of €3,022 per year, equivalent to a combined market spend of up to €150bn, Datamonitor says.

Although Ireland was not included in the study, recent census figures compiled by the Central Statistics Office reveal the number of single-person households here rose by almost 15% between 1996 and 2002.

The figures show there are 277,573 single person households in Ireland and the rate of increase is slightly higher than the total number of new private households established in that time.

In the report, Targeting the Needs of People who Live Alone, singles aged between 35-49 - who make up 20% of the total singles’ population - spend the most on these CPGs of all people who live alone due to their greater income, the typical absence of dependents and greater desire to spend money on their own comfort.

The report categorises this age group as ‘late mid-lifers’ or ‘long-term singles’ and they are people who avoided marriage, while the rest are the ‘new singles’ - separated, divorced or widowed, and possibly with dependent children.

According to the report, the long-term singles are the most lucrative sector of the single person household market. They have good earning power and given that they usually have no dependents, they have a higher than average disposable income.

“These consumers are far more likely to value premium food and alcoholic drinks and are the group with the least stigma about drinking alone at home and the most desire to spend money on high quality alcoholic drinks,” Datamonitor analyst Andrew Russell said.

Mr Russell said manufacturers need to better understand the key needs of people who live alone if they are to effectively meet their needs.

This includes developing quick, convenient and tasty meal solutions which can be enjoyed in front of the TV or while phoning friends, and personal care products that help people living alone to feel good about themselves by creating an attractive, confident image.