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Grandparents spend up big online

Posted by Michael Bloch in ecommerce (Monday December 10, 2007 )

There’s over 70 million grandparents in the USA today, making them a very powerful segment of the population when it comes to spending.. and they aren’t afraid to shop online.

According to this report from Grandparents.com they spend nearly $1,700 on every new grandchild and a total of $50 billion collectively each year.

Of the 411 grandparents surveyed, 60% state the Internet was their best source for information and advice. Half of grandparents spend 10 hours+ per week online. 69% make purchases online, 83% comparison shop and 38% do click on ads.

Grandparents appear to be active word of mouth marketers too, with 71% of grandmothers and 51% of grandfathers telling others about products that excite them.

By 2025, it is expected that one in four Americans will be grandparents. While people are having children later – I think the average is around 30 years old these days and “back in my day” it wasn’t unusual for first time moms to be in their late teens or early 20’s (my mom was 19); but our lifespans are increasing too. Grandparents are hanging around longer and I guess also consequently spending more over a greater period of time on their grandkids; no matter their age.

An interesting point to note in the Grandparents.com report is that this segment spends substantial cash on decking out their own homes for the grandkids – diapers, food, toys etc. If you run a children’s products oriented site, are you targeting any of your marketing to seniors? Might be worth looking into.

Related:

Marketing to seniors



 

 
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