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.
Showing posts with label Grandparents. Show all posts
Showing posts with label Grandparents. Show all posts
Thursday, March 15, 2007
Thursday, February 15, 2007
David Levy (President) : 74% of all adults over 65 are grandparents
No market segment is larger, or wealthier, or growing faster than grandparents. In the United States, 74% of all adults over 65 are grandparents, and they spend $50 billion a year on their grandchildren. By 2025, 1-of-every-4 Americans will be a grandparent.
Even better, it's a love that never diminishes. Studies show grandparents spend about the same amount of money on their grandkids regardless of the grandchild's age.They buy baby clothes, then teenage backpacks, then college educations, then first house down payments. And they live more years being active grandparents, than being parents.
Grandparents purchase 1-of-every-4 toys, 4-of-every-10 books, and 1-of-every-5 video games.
Last year, one-of-every-3 grandparents bought jewelry or electronics for their grandkids, and over 60% bought clothing. However, grandparents consider education the most important aspect of their grandchildren's lives....second only to their grandkid's health.
A whopping 54% of grandparents contribute to the costs of their grandchildren's education, with 20% paying for at least 75% of college tuition.
Probably the most startling statistic is this one : The average age of first-time grandparenthood is a remarkably young 48.
Article Link
Even better, it's a love that never diminishes. Studies show grandparents spend about the same amount of money on their grandkids regardless of the grandchild's age.They buy baby clothes, then teenage backpacks, then college educations, then first house down payments. And they live more years being active grandparents, than being parents.
Grandparents purchase 1-of-every-4 toys, 4-of-every-10 books, and 1-of-every-5 video games.
Last year, one-of-every-3 grandparents bought jewelry or electronics for their grandkids, and over 60% bought clothing. However, grandparents consider education the most important aspect of their grandchildren's lives....second only to their grandkid's health.
A whopping 54% of grandparents contribute to the costs of their grandchildren's education, with 20% paying for at least 75% of college tuition.
Probably the most startling statistic is this one : The average age of first-time grandparenthood is a remarkably young 48.
Article Link
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