30 April 2010

The 80s Live On For Over 25 Million Brits

• Over half of British adults still enjoy 80s' culture from music to fashion
• Lasting the test of time: 40% of adults still use household items bought in the 1980s

From food to fashion, the 1980s still influences more than 50% of British adults according to a new study* by M&S Money, commissioned to mark the company's 25th anniversary.

Favourites from the 'Yuppie' decade are lasting the test of time, with people enjoying music and films from 1985 – the year that M&S launched into financial services – and household gadgets such as food processors and video recorders still being used 20 or more years on.

Colin Kersley, M&S Money Chief Executive, said;  “So much has changed since M&S made the decision to launch into financial services a quarter of a century ago, but our research shows that many elements of 1980s' culture have lasted the test of time.  Some values from 1985 are as relevant today as they were back then.  For example, the first real mass-market fundraising event was Live Aid and this really set the standard for multi-media fundraising projects such as Children in Need and Sport Relief that are now commonplace.

“People are keeping the 80s alive and holding onto fashions, entertainment and household favourites, with three-quarters saying they keep things because they're good quality and have lasted the test of time, which we believe is true of M&S Money and our track-record of growth and success”.

Top fives from the 80s still enjoyed today

1985 teenagers today

Those who were teenagers in 1985 – now aged between 38 and 44 – may be in a different lifestage today but haven't quite left it all behind, with over a third of women keeping the fashion for skinny jeans alive.  The 'Class of 85' are likely to have Feargal Sharkey's “A Good Heart” and Madonna's “Get into the Groove” on their iPod, and films such as Rocky IV, St Elmo's Fire and The Breakfast Club in their movie collection. The films may even be watched on video as one in 10 of this group admit to still having their video recorders from the 1980s.

80s' fashion

More than three in four women (76%) still wear classic fashion items from the 80s, from tight stone washed jeans, to leg warmers.  Accessories such as hoop earrings and Alice bands have also staged a comeback, with the latter particularly popular among the under 30s, with 29% wearing them today.

Lasting the test of time

Despite a vast number of new gadgets hitting the market over the last 25 years, four in 10 households (40%) have at least one item that they bought in the 1980s that they still use, the most popular being a stereo or radio (16%). Fourteen per cent are still using their original food processors or blenders, and one in 10 Brits still watch a TV bought in the 80s.

Top of the Pops

Eurythmics and Foreigner's songs make the top five for all ages, but today's under 30s (who would have missed out on 80s discos first time round) are still influenced by the 80s.  Their best pick from 1985 is Dead or Alive's “You Spin Me Round (Like a Record)”, while Madonna's “Get Into The Groove” and Wham's “I'm Your Man” also make their top five.

Entertainment for all the ages

The enduring popularity of Marty McFly is clear as Back To The Future topped the poll as the best film for all ages, with 42% of votes.  The female vote alone would also have seen The Color Purple and Out of Africa make it into the top five, whereas only one in 20 of today's under 30s watch them today.  The top pick for today's over 60s is Jewel of the Nile, and they also favoured The Dirty Dozen: Next Mission.

Asked which 80s' TV shows the nation would bring back in their original format, clear favourites were Blackadder (24%) and Only Fools and Horses (23%).  Only 6% of those aged 30+ today would bring back Cilla back to host her Saturday night matchmaking, although 15% per cent of those who missed it first time around would like to see it back on our screens.

Reminiscent food

It's not just 80s' music and fashion that have made an impact – so called 'retro-food' is still eaten by over 46 million adults today.  According to the study, 80s' staples such as Viennetta (51%), prawn cocktail (44%) and arctic roll (38%) all still feature in people's diets today.

Colin Kersley, continued; “While life has moved on over the last 25 years, people are obviously still attached to the things that mean something to them – whether that's a favourite jacket or a record player that still works perfectly.  My personal favourite from the 80s is the first series of Blackadder, which I have on video and will keep forever – even though I no longer own a video player!”

ENDS

For further information please call the M&S Money press office:

Simon Coughlin on 020 7992 1574
simon.coughlin@mandsmoney.com

Liz Neild on 01244 686 068
liz.a.neild@mandsmoney.com

Or

Francesca Pattison / Katherine Hobby/ Charli Scouller
francescap@lansons.com /katherineh@lansons.com/ charlis@lansons.com
Tel: 0207 490 8828

Notes to Editors

*The research was conducted online by Opinium Research amongst a nationally representative sample of 2,014.

A history of financial services at M&S

1984:

M&S trials the Chargecard in 17 stores in Scotland.

1985:

Announcement of the formation of St Michael Financial Services and the introduction of M&S Chargecard. 270,000 applications in first three weeks.

M&S Chargecard goes live in stores, with 270,000 applications in first three weeks.

1986:

Application for planning permission to develop 120,000 sq ft headquarters outside Chester on a 20 acres site to be known as Kings Meadow.

Millionth Chargecard account opened, making it the third largest card in the country.

1988:

Company changes name to Marks & Spencer Financial Services (MSFS). Offers the first M&S unit trust, Investment Portfolio.

1989:

Personal loans available to all customers.

1995:

Marks & Spencer Life Assurance Ltd launched, offering pensions and term assurance.

1999:

M&S ISA launched.

2000:

M&S Home Insurance and car buying plan launched.

2003:

MSFS rebrands to M&S Money.

&More Credit Card launched – the largest ever card launch in Europe.

2004:

M&S Money is bought by HSBC in a joint venture with Marks and Spencer plc. Mini Cash ISA launched, and M&S Money starts managing in-store bureaux de change.

2007:

M&S Ethical Fund and Fixed Rate Savings launched.

2008:

M&S Travel Money campaign featuring Myleene Klass.

M&S independent traveller cover launched and 37 multi-currency ATMs installed in stores.

2009:

M&S Premium Club launched.

First M&S regular savings account – Everyday Savings – launched.

2010:

M&S Flexi Cash ISA launched. Now 122 bureaux de change in M&S stores.

M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc, making 2010 the company's 25th anniversary.

The company is a top-ten credit card provider and the second-largest travel money retailer in the UK.  M&S Money also offers a range of insurance cover, including home insurance and car insurance, as well as loans, savings and investment products.

In November 2004, Marks & Spencer sold M&S Money to HSBC. HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,000 offices in 88 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,364 billion at 31 December 2009, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’. M&S Money has an executive committee comprising an equal number of representatives from HSBC and Marks & Spencer.