Grandparent Market – Where the Money is for Marketers?

Grandparents.  70 million of them in the US.  They buy $2 trillion worth of goods and services annually.  High levels of income and eduction. And they spend alot of money on their grandchildren.  And a whole lot of them are baby boomers!

The new report from grandparents.com takes a comprehensive look at the grandparent market — who they are, how they spend their money — and why marketers should pay attention.

Here are some of the facts:

  1. Three in every ten adults are grandparents.
  2. Medican age of a first time grandparent is 50 for women and 54 for men.
  3. By 2010, more than half of grandparent’s will be baby boomers.
  4. By 2010, households headed by 55-64 year olds will earn the highest average income, surpassing that of families headed by 45-54 year olds for the first time.
  5. Grandparent spending on grandchildren has grown an average of 7.6% per year since 2000.
  6. Grandparents make 45% of the nation’s cash contributions to nonprofit organizations and account for 42% of all consumer spending on gifts.

If you attended the Boomer summit in Las Vegas you might have had a chance to hear Jerry Shereshewsky talk about this market.  This is new research and well worth a read if this is your target market.

Find the report here

posted by Laura Rossman

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