|
Published by: Mintel International Group Ltd.
Published: Sep. 1, 2004 - 85 Pages
Table of Contents
INTRODUCTION AND ABBREVIATIONS
Introduction
Other relevant reports
Definition
Abbreviations and terms
Abbreviations
Terms
EXECUTIVE SUMMARY
Women outnumber men in older age groups
The number of older adults is rising
Older generations are less racially and ethnically diverse
Retirees have more time, but less money
Spending patterns change with age
Over 60% of expenditures go to housing, transportation, and food
Rising healthcare costs impact expenditures
Mortgage and property taxes are largest housing expenses
Older adults spend more on new cars
Older adults spend more per capita on food and beverages
Older adults account for more than a quarter of entertainment expenditures
Retirement reduces demand for more expensive clothing
Expenditures for legal and accounting fees are higher than average
DEMOGRAPHICS OF OLDER ADULTS
Population
Graph 1: Number of births in the U.S., 1909-2002
Figure 1: U.S. population, by generation, 2004
Figure 2: Projections of the U.S. population by age, 2004 and 2010
Figure 3: U.S. population by age and gender, 2004
Race and Hispanic origin
Figure 4: Population under age 55 and aged 55 or older by age, race, and Hispanic origin, 2004
Figure 5: Population aged 55 or older by age, race, and Hispanic origin, 2004
Marital status
Figure 6: Married people aged 55 or older, by sex and age, 2002
Figure 7: Married, widowed and divorced population aged 55 or older by age, race, and Hispanic origin, 2002
Households
Figure 8: U.S. households, by age of householder, 2003
Figure 9: Households headed by people aged 55 or older, by presence of children and age of householder, 2002
Homeownership
Figure 10: Homeownership by age of householder, 2003
Employment
Figure 11: Labor force participation, by age, 2003
Household income
Figure 12: Median household income, by age of householder, 2003
SPENDING PATTERNS OF OLDER ADULTS
Overview
Figure 13: Number and percent distribution of consumer units, by age, 2002
Figure 14: Average expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Graph 2: Average expenditure by all CUs and by CUs headed by people aged 55 or older, 2002
Figure 15: Average expenditures of CUs headed by people aged 55 or older, 1992 and 2002
Figure 16: Indexed expenditures by CUs headed by people aged 55 or older, by age, 2002
Figure 17: Distribution of expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 18: Average per capita expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 19: Share of total expenditures accounted for by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Housing expenditures
Figure 20: Average housing expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Graph 3: Average expenditure by all CUs and by CUs headed by people aged 55 or older, 2002
Figure 21: Indexed housing expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 22: Average per capita housing expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 23: Share of total housing expenditures accounted for by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Transportation expenditures
Figure 24: Average transportation expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Graph 4: Average transportation expenditure by all CUs and by CUs headed by people aged 55 or older, 2002
Figure 25: Indexed transportation expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 26: Average per capita transportation expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 27: Average per vehicle transportation expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 28: Share of total transportation expenditures accounted for by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Food and beverage expenditures
Food and beverages at home
Figure 29: Average food-at-home expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Graph 5: Average food and beverage expenditures by all CUs and by CUs headed by people aged 55 or older, 2002
Figure 30: Indexed food-at-home expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 31: Average per capita food-at-home expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 32: Share of total food-at-home expenditures accounted for by all CUs and by CUs headed by people aged 55 or older, by age, 2002 47
Food and beverages away from home
Figure 33: Average food-away-from-home expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 34: Indexed food-away-from-home expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 35: Average per capita food-away-from-home expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 36: Share of total food-away-from-home expenditures accounted for by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Healthcare expenditures
Figure 37: Average healthcare expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Graph 6: Average healthcare expenditures by all CUs and by CUs headed by people aged 55 or older, by age breaks, 2002
Figure 38: Indexed healthcare expenditures by all CUs andn by CUs headed by people aged 55 or older, by age, 2002
Figure 39: Average per capita healthcare expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 40: Share of total healthcare expenditures accounted for by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Entertainment expenditures
Figure 41: Average entertainment expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Graph 7: Average entertainment expenditures by all CUs and by CUs headed by people aged 55 or older, by age breaks, 2002
Figure 42: Indexed entertainment expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 43: Average per capita entertainment expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 44: Share of total entertainment expenditures accounted for by CUs headed by people aged 55 or older, by age, 2002
Apparel expenditures
Figure 45: Average apparel expenditures by all CUs and by CUs headed by people aged 55 or older by age, 2002
Graph 8: Average apparel expenditures by all CUs and by CUs headed by people aged 55 or older, by age breaks, 2002
Figure 46: Indexed apparel expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 47: Average per capita apparel expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 48: Share of total apparel expenditures accounted for by CUs headed by people aged 55 or older, by age, 2002
Other expenditures
Figure 49: Average other expenditures by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Graph 9: Average other expenditures by all CUs and by CUs headed by people aged 55 or older, by age breaks, 2002
Figure 50: Indexed expenditures on other categories by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 51: Average per capita expenditures on other categories by all CUs and by CUs headed by people aged 55 or older, by age, 2002
Figure 52: Share of total expenditures on other categories accounted for by CUs headed by people aged 55 or older, by age, 2002
APPENDIX: RESEARCH METHODOLOGY
Consumer Research
Sampling & Weighting
Presentation & Definition
Further Analysis
Trade Research
Informal trade research
Formal trade research
Desk & Internet Research
Sources
Definitions
Forecasts
APPENDIX: WHAT IS MINTEL?
Mintel Publications
Mintel Services
Product retrieval
Retail audits
Tailored research
Global New Products Database
Research Support/Consultancy/MIC
The Mintel Information Centre (MiC)
PR Research
Abstract
The older adult segment of the U.S. population is obviously a good market for some goods and services, such as healthcare. They are a less attractive target for others, such as goods and services for children, because at this stage of life most no longer have children in their households. For other industries, however, the relative importance of older adults is often less clear. While they may account for a smaller share of the entertainment market than other generations do, for example, the current older adult segment of the population is still an important market for companies to focus upon.
Understanding the demographics and spending patterns of older adults can help businesses better assess the importance of this segment and develop strategies for increasing the number of customers drawn from this group. This is particularly relevant today as the Baby Boom generation begins moving into the older adult age group. Not only will the Boomers boost the number of older adults by a sizable amount, as discussed throughout this report, they will also change the character of the generation, providing increased opportunities for many businesses to find new customers among this segment of the population.
Get Full Details About This Report >>
|
|
US: 800.298.5699
Int'l: +1.240.747.3093
|
|
|
