Adults aged 50 and older are the fastest growing age group in the U.S. – and they also have the highest spending power. Here are some stats on why this demographic is worth catering to and why they can be ideal customers for your shop.
Here are six compelling stats about this group:
- 45% of the U.S. population will be age 50 and older by 2015. (U.S. Department of Health and Human Services)
- Three-quarters of the wealth in the U.S. is controlled by those aged 55 and older. (ICSC)
- Baby Boomers outspend other generations by an estimated $400 billion each year on consumer goods and services. (U.S. Government Consumer Expenditure Survey)
- Boomers outspend younger adults online 2:1 on a per-capita basis. (Forrester Research)
- 72% of adults aged 55-63 and 47% of those aged 73 and older shop online. (Forrester Research)
- Baby boomers drive more miles per day than any other age group. (Impact of Baby Boomers on U.S. Travel, AARP)
Are these the type of customers you would like to meet?
Learn about RepairPal’s Certified Shop Program for AARP Members.