Market News

A MARKET THAT CAN'T BE IGNORED

With its size and financial influence, the 50+ market is a powerful force.

Wondering why people are starting to take notice of the 50+ market? Because people are finally realizing they can’t ignore them anymore. With their size and financial influence, they are and will continue to be a force to be reckoned with.

AARP’s 2004 “Beyond 50 Report” illustrates just how powerful the mature market is. Key findings from the report:

• Consumers 45+ spend more as a group than all other consumers. In 2001, they spent $2.28 trillion out of a total consumer spending of $4.36 trillion in the U.S. This 56% market share was up from 47% in 1984.

• A major factor contributing to the growing market share of older consumers is the increasing 45+ population. While the total population grew by 22% between 1984 and 2001, the number of older consumers increased by 33% during the same period.

• Older consumers held at least half the market share in each key expenditure category in 2001: - Transportation – 50% - Personal Insurance and Pensions – 50% - Housing – 51% - Food – 52% - Health – 69%

• Between 1984 and 2001 the total average annual expenditures of older consumers increased 8% while the rate of increase for all consumers was only 6%.

By AdAge.com Mailed 2006-11-21

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