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Grandma and Grandpa Boomer: What Baby Boomers Look Like as Grandparents Already over twenty million U.S. grandparents – well over one in three – are baby boomers. The generation that was named for its infancy and defined by its youth is now assuming a new role. Boomer grandparents spend roughly 29% of the $50.3 billion U.S. consumers spend annually on products and services for kids, according to the Census Bureau and the polling firm RoperASW. Boomer grandparents are not expected to spend significantly more on their grandchildren than other grandparents have in the past. Yet the size of the mature market boomers comprise suggests retailers and other business decision-makers should track their spending habits and understand how boomers tend to view their role as grandparents. On the whole, boomers want to be more present and influential in their grandchildren's everyday lives than grandparents of previous generations. A sizeable portion of them have children from second or third marriages who are not much older than their grandchildren; for these, the child-raising experience is fresh in their minds and still feels relevant to them. Boomers also tend to get along with their children better than previous generations did with theirs, making their relationships to their children's households more hands-on. Remembering the "generation gap" affecting their relationships with their own parents, many also place strong emphasis on inter-generational communication. As the proportion of baby boomer grandparents increases, so will the tendency of grandparents to play an active part in child-raising. Baby boomers tend to be more health-conscious than previous generations; they will be sticklers for health foods and vitamins when it comes to grandkids. They might even buy family cars to help shuttle grandchildren from point to point. Grandparents will pay out significant amounts to vacation with their grandkids: part of being involved will be sharing interesting experiences with the younger generation. Those grandparents who live far from their grandchildren will spend freely on trips to visit them more frequently than older might have done. They will also be more likely to sign up for Internet accounts or instant messaging wherever this is an effective way to keep up with grandkids' lives. Boomers will spend money on the usual gifts, such as toys and clothing, but they will not do so blindly. They will look for the latest word on what's educational and popular, more likely than their own parents to pay attention to consumer information and product reviews. The best strategy is to emphasize education and shared experience. Boomers will be anxious to provide their grandchildren with a wide range of experiences for the sake of their personal development. And they will dig deep to do so, particularly as they will be motivated to give more than either they or their children had. Big tickets might run the gamut from adventure travel to enriching summer camps or private lessons in art, music or sports. Remember: when appealing to this demographic, you're looking at the interests of everyone who interests them. Back To Mature Market News → Go To The GenerationTarget.com Mature Market Bookstore → |
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