Retire or Re-Tie? : marriage for older people

Marriage trends have been shifting for decades. Whilst overall marriage rates have dipped by more than 20 percent in the past 30 years in the UK, a surprising demographic is bucking that trend—older couples. New data from the Office for National Statistics (ONS) reveals that men and women in their fifties and sixties, many of whom are divorcees, are increasingly tying the knot. This shift is a good example for business students interested in understanding how changing demographics can reshape markets, consumer needs, and strategic opportunities.

1. The numbers behind the trend

• Overall Decline: Between 1992 and 2022, the total number of marriages in England and Wales dropped by nearly 21%. This underscores a broader cultural shift toward later marriages or even opting out of marriage altogether.
• Rise in Older Spouses:
  • Divorced men over 50: a 22% rise in the past decade.
  • Divorced women over 50: a 36% rise in the past decade.
• Age as a Factor: The trend is particularly noticeable among those in their sixties. From 2012 to 2022, marriages for men in their sixties increased by 33%, whilst marriages for women of that age jumped by 56%.

What these numbers highlight is a divergence in marriage patterns: younger people are deferring or avoiding marriage, whilst older adults—often with prior marital experience—are willing to take the plunge again.

2. Why are older people marrying (again)?

Longer Lives, Bigger Plans

Longer life expectancy is reshaping what it means to be “old.” Individuals reaching their sixties and even seventies often enjoy better health, broader social horizons, and more active lifestyles than previous generations. Marriage, for many, can be part of a new chapter rather than a late-life afterthought.

Financial and Legal Motivations

Another key driver is the desire for financial security and clearer legal protections. Cohabitation offers fewer inheritance rights and weaker legal safeguards compared to marriage. For those with substantial assets, retirement funds, or property, marriage can simplify estate planning. It also ensures legal clarity that might otherwise be missing in non-marital partnerships.

Protecting Family Interests

The rise in pre-nuptial agreements among older couples serves to protect children from earlier relationships. A pre-nup can ensure assets intended for one’s children remain intact should a second (or third) union end in divorce. This realisation about protecting one’s legacy is especially relevant for older adults with significant assets or large blended families.

3. Implications for businesses and entrepreneurs

1. Real Estate and Housing
   Older newlyweds may merge households later in life, often with different housing needs compared to first-time buyers. They might be looking to downsize but still want amenities for comfort, leisure, and socializing. Real estate developers and agents should consider designing and marketing homes for “active retirees” and couples forming new households post-50.
2. Financial and Legal Services
   With marriages among older couples on the rise, demand for robust financial and legal guidance—including estate planning, pre-nuptial agreements, and retirement fund management—will grow. Law firms and financial planners can tailor products and marketing strategies to address the unique concerns of older clients entering new marriages.
3. Wedding Industry Shifts
   The traditional “big white wedding” might not be the first choice for couples in their fifties or sixties. Wedding planners, venues, and related service providers could evolve offerings to appeal to a more mature demographic—think smaller, more personalised ceremonies, travel-focused “destination weddings,” or vow renewals that seamlessly blend families.
4. Health and Wellness
   A new marriage in one’s fifties or sixties often comes with a renewed focus on health—staying active to enjoy life as a couple. Gyms, personal trainers, and wellness-centric brands might capitalise on this through targeted marketing campaigns emphasising joint memberships, couples’ retreats, and other “live well together” programs.
5. Travel and Leisure
   Many older couples, especially those who have retired or semi-retired, have the time and disposable income to travel. Companies in the travel sector—cruise lines, luxury resorts, or specialised tour operators—may find a growing market for “newlywed” packages that cater to older adults eager to celebrate a fresh start together.

4. Lessons for business students

Adapting to Demographic Shifts

The rise in older marriages underscores a key lesson: demographics are dynamic, and shifts can create fresh market segments. Business students should track such patterns to anticipate new consumer needs and craft targeted solutions. When cultural or societal norms change, entrepreneurial opportunities often emerge.

Building Trust and Providing Tailored Solutions

Older adults looking to remarry may require more specialised products and services than younger couples. Businesses that build trust—whether through transparent financial advice, sensitive legal counsel, or age-appropriate wedding planning—stand to benefit from a loyal, often higher-spending customer base.

Emphasising Values and Experiences

Older newlyweds are typically guided by experience and clarity about what they want from life and relationships. Beyond “stuff,” this market values experiences and authenticity—hotels that provide genuine local experiences, wedding planners who customise small intimate events, and financial advisors who understand how to protect family interests and legacies.

5. Conclusion

For business students, the rise of older couples getting married—often for the second or third time—serves as an instructive case of how demographic trends can defy headlines about “declines” or “dying industries.” While overall marriage rates have dipped, there is robust growth within a specific age bracket. By embracing the complexity of consumers’ lives and the potential in unexpected market segments, future business leaders can seize the opportunities these demographic shifts create.

In short, older couples “bucking the trend” reveal an essential business truth: when consumer needs evolve, so too must the businesses that cater to them. The triumph of hope over experience in the marriage arena can just as easily reflect a triumph of creative adaptability in the business sphere.