Mature Market Wields Spending Power April 23rd, 2007
The stereotype of the blue-haired grandmothers rocking while knitting a sweater has been replaced an active “mature market” populace, and executives across the spectrum should take note.
The mature market has replaced the “senior citizen”, and is wielding its power to the tune of $1.6 trillion in spending according “The Mature Market in the U.S.” by Packaged Facts.
The market, which spans from the over 50 crowd well into the 90s, spends $1 trillion on goods and services alone, with Internet spending totaling about $7 billion annually, according to Packaged Facts.
According to the study, about 78 percent of households with adults aged 55 to 64 own a computer and more than a quarter of Americans over the age of 65 surf the Internet with ease. That figure rises to 80 percent of those in the top 30 percent income bracket.
“The sedentary lifestyle for seniors is all but gone as fitness and wellness, travel and socializing, and even jobs after retirement tease the new mature market into continuous activity,” said Don Montuori, publisher of Packaged Facts. “Marketers need to be more conscious of the intense diversity within this ‘silver tsunami,’ and this report provides a comprehensive guide to the nuances shaping this 68 million-people-strong market.”
Career Corner Article Series
Career Corner Articles Home
Management Matters Article Series
Management Matters Articles Home
Industry Trend Article Series
Industry Trend Articles Home