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Centre for Policy on Ageing | |
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The grandparent consumer
— a financial goldmine with gray hair? | | Author(s) | Dennis H Tootelian, Sanjay B Varshney |
| Journal title | Journal of Consumer Marketing, vol 27, no 1, 2010 |
| Publisher | Emerald, 2010 |
| Pages | pp 57-63 |
| Source | www.emeraldinsight.com/0736-3761.htm |
| Keywords | Expenditure [elderly] ; Grandparents ; Consumer ; Quantitative studies ; United States of America. |
| Annotation | "Grandparents" comprise an important segment of the population of older people. This American research study examined the significance of the grandparent market, grandparents' spending on grandchildren, and whether marketing aimed at this group is sustainable over time. A telephone survey of 500 grandparents was conducted using a randomised sampling plan. Purchasing levels were designed to cover six product/service categories in which grandparents might be more inclined to spend: non-gift card presents, gift cards, school supplies, entertainment and travel, and financial investments. The findings indicate that grandparents represent a highly attractive market. Nearly all grandparents (94.8 per cent) spend money on their grandchildren - nearly $975 per year. This makes the total market more than $54.5 billion annually, or $149.4 million per day, in just the product/service categories included in the study. Furthermore, grandparent spending increases with the age of the grandparent, the number of times they see their grandchildren, and the number and ages of their grandchildren. Given the size of the market and the spending power of grandparents, companies may be justified in directing considerable resources that target grandparents for goods and services for their grandchildren. While older people may have limited spending capabilities, they appear willing to reallocate their funds to grandchildren. (OFFPRINT). (RH). |
| Accession Number | CPA-130728210 A |
| Classmark | J3: SW: WY: 3DQ: 7T * |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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