I recently wrote an article, soon to be published, about the Grandparents market. I am interested in this demographic because of what I found in an article in the Houston Chronicle by David Kaplan entitled, "Toy sellers know who has the money: baby boomers." This story reported on the results of an AARP study on how grandparents spend their money. According to the study:" Grandparents spend an average of $500 a year on each grandchild, collectively $30 billion per year…."
Here is some additional information in the article that will not be found in my column:
70 percent: Of U.S. wealth is controlled by people over 50, according to a consultant at Age Wave.
10 million: The increase in the number of grandparents over the next four years.
$500: Amount that grandparents spend per grandchild per year.
$30 billion: Collective amount grandparents spend on grandchildren annually.
25 percent: Of toy sales are from purchases by grandparents.