Saga operates in highly attractive markets, serving the fastest-growing demographic with significant opportunity for growth.

Saga regularly reviews the trends and factors influencing our customers and markets to identify opportunities and risks. 

The Saga customer

Saga’s target market is one of the fastest-growing, most affluent and influential in the UK.

For 2023, the number of people aged over 50 was estimated at 26.2 million and is expected to increase to 28.1 million by 2033. This segment currently represents 39% of the UK population and is estimated to spend £292 billion per year on non-household expenditure.

Through our unique insight, extensive database and growing capabilities, we provide our customers with compelling and relevant products and services that offer great value, support and peace of mind. 

Vulnerable customers

Saga aims to create exceptional experiences for all customers. We recognise that we will interact with our customers who require additional support or are in a vulnerable situation every day, and are committed to making their experience with Saga exceptional. We take a continuous improvement approach to identifying and supporting vulnerability across the Group, with specialist teams and dedicated resources working to ensure all customers receive a consistent experience. 

Competition for customers

The Group faces significant competition for business within the sectors in which it operates. Competition for customers continues to increase, in particular in the more commoditised parts of the insurance and travel markets, where customers can buy simple and cheap products easily online. Within this context, it is increasingly important that Saga continues to offer its customers differentiated products and services that truly meet the needs of its demographic.

Within Insurance, Saga has the data capability to accurately price risk for our segment of the market whilst offering compelling product propositions such as the three-year fixed-price product and COVID-19 inclusive travel insurance. In Cruise, the nature of our offering, with state of the art mid-sized boutique ships is designed with the experience of people over 50 in mind. These are just some of the compelling reasons for customers to come to and stay with Saga.