Mature Market Experts Stat of The Day: Median Age of Grandparents is 53 to 57

j0438615 grandfather with grandkids

Mature Market Experts: more mature market news and stats more often – Median Age of Grandparents is 53 to 57 – “In a time past views of the elderly and views of grandparents were synonymous. Grandparents were seen as physically frail, out of touch with current life styles, and old fashioned. The profile of the average grandparent today is quite different from that former stereotype. Because individuals are becoming grandparents at an earlier age and are living longer, they are likely to be healthy, relatively well off, and have a living spouse (Aldous, 19951. The average grandparent is white, female, and healthy (Roe & Minkler, 1998/991). Most grandparents are married, and if they are single they are more likely to be females (Jones & Kennedy, 1996; Landry, 1999). About 50% are working (Heywood, 1999; Woodworth, 1996).

In 1995 at least 75% of older Americans were grandparents (Giarrusso & Silverstein, 1996) and almost 50 percent of them were great-grandparents, many of whom were raising their great-grandchildren (Woodworth, 1996). However, in 1995 one-half of all U.S. grandparents were less than 60 years of age and one-half of the under 60 group was less that 55 years old (Simon-Rusinowitz & Krach, 1996). These figures tell us that most grandparents are not members of the elderly population. In fact, the estimated grandparent age ranges from 30 to 110, with the median age between 53-57 (Giarrusso & Silverstein, 1996; Heywood, 1999; Jones & Kennedy, 1996). Factors that are often cited in the literature for the growing numbers of grandparents are; the aging of post World War II baby boomers, longer life expectancy, early age of becoming a grandparent, and changes in the family life cycle (Dressel, 1996; Giarrusso & Silverstein, 1996; Longino & Earle, 1996). We can conclude that the number of grandparents will increase as the younger grandparents age and additional young people become grandparents.”

Source: Goliath

As I have blogged before, Grandparents are a major consumer market. There were 69 million U.S. grandparents in 2000, a number expected to grow to 80 million by 2010, and they spend a median of $489 per year on their grandchildren, about $30 billion annually. Source: AARP Special Study, 2002

U.S grandparents and the mature market:

– Over 75% of the 50+ market are grandparents

– Average age of the first-time grandparent is 47

– Over 70 million grandparents in the U.S. (More than the entire population in the U.K.)

– 4,000 Baby Boomers become grandparents every day

– The 50+ population is projected to grow to 23% in the next ten years while growth in the 18-49 segment will be flat

Source: GRAND Magazine

PS  GRAND Magazine, one of TR Mann Consultings’ clients, offers an exceptional opportunity for marketers to capture an audience at a highly defined stage, at an exceptional cost per thousand. Grandparents will continue to spoil and spend money on their grandchildren even in the worst economy.

 

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The Mature Market Experts Stat of The Day: Grandparents as Voters

 

 

 

Grandparents, part of the coveted senior voting bloc, are looking to the future as they cast their votes. According to the GrannyVoter poll results:
  • Three out of four American grandparents (75%) strongly agree that in the upcoming Presidential election, they will vote their grandchildren’s long-term interests, as well as issues that affect them personally in the near term.
  • Surprisingly, grandparents consider the impact on their grandchildren even when asked about powerful senior voting issues. About three-quarters of grandparents (73%) stated that their views of Social Security and Medicare were influenced by the interests of their grandchildren. Only 26% said they make up their mind on Social Security and Medicare mostly on the basis of how it will affect them in the short-term.

The national survey, commissioned by GrannyVoter.org and conducted by Ipsos-Public Affairs from October 15-18, 2004, found that an overwhelming majority of America’s 70 million grandparents—some 86%—were registered to vote in the 2004 election, which is significantly higher than both non-grandparents (76%) and the general public (79%).

Pat Schroeder, a former Congresswoman and GrannyVoter.org founder, said,

“Politicians who are perpetuating the myth of the Greedy Geezer Voter may want to rethink how they appeal to the important older voter. Even on the issue of Social Security, the supposed third rail of American politics, only 1 in 4 grandparents said they were voting their own interests. It’s time that politicians understand that having been blessed with a long life, we have great respect for the long-term view.”

On other key voting issues, the GrannyVoter poll finds that grandparents were slightly more likely to put their grandchildren’s interests ahead of their own:

  • When thinking about the nation’s budget deficit, 20% of grandparents said they made up their mind on their grandchildren’s interest, compared to 17% who did so mostly on the basis of their own interest.
  • On the environment, 16% of grandparents made up their mind mostly on the basis of their grandchildren’s interest and 15% did so mostly on the basis of their own interests.

The GrannyVoter poll found that the general public shared this strong inclination toward considering the future impact of policies when making their voting decisions. Almost three quarters (74%) of the general public said that in the upcoming Presidential elections, they would vote on issues that have long-term implications for future generations.

According to Mary Catherine Bateson, a cultural anthropologist and GrannyVoter.org founder, “A GrannyVoter is anyone whose voting decisions are influenced by the interests of their grandchildren and future generations. According to our poll, America is becoming a nation of GrannyVoters. Led by a new generation of grandparents, voters are thinking more long-term than the politicians give them credit for.”

The Ipsos-Public Affairs poll of 1161 adults was conducted October 15-18, 2004 and has a margin of error of +/- 2.9 for all adults and +/- 4.1 for grandparents. It was the first poll to ask how grandparent status influences voters’ views. It was also the only poll in the 2004 election season to ask, “Are you a Grandparent?”

Press Release Source: GrannyVote.org