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Who Buys Source

In 2010, the 65+ population in the U.S. accounted for approximately 13% of the country's total population, or 40.268 million people. Fifty-seven percent of the nation's 65+ residents are women, while 43% are men. 

U.S. Census Bureau, 2011

Share of 65-and-older Americans in 2010, by ethnic composition: White, 80.1%; Black, 8.7%; Hispanic, 7.0%; Asian, 3.5%; all other races, 0.7%.  

U.S. Census Bureau, 2011

Household size of the 65+ population in the U.S.: 1 person, 44.8%; 2 persons, 45.0%; 3 persons, 6.2%; 4 persons, 2.2%; 5 or more persons, 1.8%.

U.S. Census Bureau, 2011

Percentage distribution of earnings for full-time workers in the 65+ age bracket in 2010: Under $15,000, 8.4%; $15,000-$24,999, 13.9%; $25,000-$34,999, 15.6%; $35,000-$49,999, 20.2%; $50,000-$74,999, 20.1%; $75,000+, 21.7%. 

U.S. Census Bureau, 2011

Educational attainment of adults ages 65+ in 2010: Less than 9th grade, 10.2%; 9th-12th grade (no diploma), 10.3%; high school graduate, 36.4%; some college or associate's degree, 20.6%; bachelor's degree, 13.1%; advanced degree, 9.4%. 

U.S. Census Bureau, 2011

Marital status of persons 65+ in 2010: Women -- Married, 43.4%; widowed, 39.9%; divorced or separated, 12.1%; single (never married), 4.6%. Men -- Married, 73.1%; widowed, 12.7%; divorced or separated, 10.1%; single (never married), 4.1%.

U.S. Census Bureau, 2011

Of those 65-and-older consumers still in the workforce in 2010, 57.2% were empioyed on a full-time basis, while 42.8% were working part-time.

U.S. Census Bureau, 2011

Of those family housholds occupied by 65+ consumers in 2010, 89.8% were owner-occupied, while 10.2% were renter-occupied.

U.S. Census Bureau, 2011

Occupations of the employed population ages 65+ in 2010: Management, professional and related occupations, 42.8%; service occupations, 15.6%; sales and office occupations, 25.6%; construction, extraction and maintenance occupations, 5.4%; production, transportation and moving occupations, 9.9%; other, 0.7%.

U.S. Census Bureau, 2011

When They Buy Source

Older Americans Month is celebrated in May.

Administration on Aging, 2012


How They Buy Source

Average amounts spent on various categories in 2010 by households headed by consumers ages 65-and-older: Food, $4,558; Housing, $13,015; Apparel and services, $964; Transportation, $5,242; Health care, $4,843; Entertainment, $1,891; Personal insurance and pensions, $1,872; Cash contributions, $2,272; Personal care products & services, $517; Tobacco products & smoking supplies, $227; Reading, $141; Education, $193; Miscellaneous, $772.

U.S. Bureau of Labor Statistics, 2011

A 2011 study by A.T. Kearney found that older people enjoy shopping, not only as a necessity by also as a social and leisure experience. Two-thirds of those aged 70-80 say they shop twice a week or more; shopping at different times, preferring to go on weekdays, and relatively early in the mornings when the stores are less busy. The older they are, the more they prefer smaller stores and shopping closer to home.

A.T. Kearney, 2011

What They Buy Source

Based on a 2011 survey by J.D. Power and Associates, the top 10 vehicle makes preferred by drivers ages 65-and-older: 1. Toyota; 2. Ford; 3. Chevrolet; 4. Honda; 5. Nissan; 6. Hyundai; 7. Lexus; 8. Kia; 9. Buick; 10. GMC.

Research Alert, 2011

A 2011 Scarborough Research survey of adults over the age of 65, who were employed either full-time or part-time, found that this group was 36% more likely than the average American to own a second home or real estate property, 23% more likely to have stocks or stock options as a household investment, 27% more likely to own mutual funds, and 46% more likely to have money market funds. They are also 13% more likely to have spent $10,000 or more on home improvements during the previous year. 

The Center for Media Research, 2011

A 2011 survey by BIGResearch asked adults in the 66-85 age bracket to list their favorite ways of spending their free time: 1. Watch TV; 2. Eat out; 3. Read books; 4. Read newspapers/magazines; 5. Travel. 

BIGresearch, 2011

A 2011 survey by A.T. Kearney revealed that mature consumers spend proportionally less of their income on clothing and transportation than people under age 60, and more on food, beverages and non-prescription health products. They buy fewer items but tend to spend more per item. Overwhelmingly, they seek quality products and are loyal to brands.

A.T. Kearney, 2011

Research by Strategic Business Insights concluded tht 39% of households with heads aged 60-64 had primary mortgages in 2010, while 20% had secondary mortgages (up from 22% and 12%, respectively, in 1994).

The Wall Street Journal, 2011

According to the American Society of Aesthetic Plastic Surgery, in 2010 there were 84,685 surgical procedures among patients ages 65+ (7.3% of the overall number for all age groups). The most popular procedures among the older patients were face-lifts, cosmetic eyelid operations, liposuctions, breast reductions, forehead lifts, breast lifts and breast augmentations.

The New York Times, 2011

According to a 2011 study by A.T. Kearney, people 65-and-over are the fastest-growing segment of the U.S. workforce.

 

A.T. Kearney, 2011

According to a 2011 global study conducted by A.T. Kearney, percent of the following age groups who use a mobile phone: 60-64, 87%; 65-79, 74%; 80+, 50%. Percent of the following age groups who access the Internet: 60-64, 68%; 65-79: 46%; 80+, 19%. Percent of the following online seniors who buy products via the Internet: 60-64, 49%; 65-79, 41%; 80+, 29%.

A.T. Kearney, 2011

According to a 2011 survey by IBISWorld, people 55-and-older are visiting dating websites more than any other age group -- up 39% in the last three years.

The New York Times, 2011

A study by The NPD Group showed that consumers ages 65+ accounted for 30% more in power tool sales and 16% more in outdoor power equipment sales in the 12 months ending March 2011 than they did in the previous year.

Home Channel News, 2011

Where They Buy Source

States with the largest 65-and-older populations in 2010 (totals in millions): 1. California, 4.247; 2. Florida, 3.260; 3. New York, 2.618; 4. Texas, 2.602; 5. Pennsylvania, 1.959; 6. Ohio, 1.622; 7. Illinois, 1.609; 8. Michigan, 1,362; 9. North Carolina, 1.234; 10. New Jersey, 1.186.

U.S. Census Bureau, 2011

States with the greatest percentage of residents in the 65+ age bracket in 2010: 1. Florida, 17.3%; 2. West Virginia, 16.0%; 3. Maine, 15.9%; 4. Pennsylvania, 15.4%; 5. Iowa, 14.9%; 6. Montana, 14.8%; 7. Vermont, 14.6%; 8. North Dakota, 14.5%; 9. (tie) Arkansas, Delaware and Rhode Island, 14.4%; 12. (tie) South Dakota and Hawaii, 14.3%; 14. Connecticut, 14.2%; 15. Ohio, 14.1%.

U.S. Census Bureau, 2011

Regional distribution of the 65-and-over population in 2010: Northeast, 19.6%; Midwest, 22.0%; South, 37.1%; West, 21.3%.

U.S. Census Bureau, 2011

The largest managers of senior housing properties in 2011, based on number of units: 1. Brookdale Senior Living, Inc., 51,166; 2. Emeritus Senior Living, 42,600; 3. Holiday Retirement, 33,006; 4. LCS, 29,365; 5. Sunrise Senior Living, Inc., 27,330; 6. Five Star Quality Care, 20.792; 7. Erickson Living Management, 19,082; 8. The Evangelical Lutheran Good Samaritan Society, 16,656; 9. Horizon Bay Retirement Living, 16,219; 10. Atria Senior Living, Inc., 14,465.

American Seniors Housing Association, 2011

U.S. cities with populations of 100,000 or more with the highest percentage of residents ages 65-and-over in 2010: Scottsdale, AZ, 20.0%; Clearwater, FL, 19.8%; Hialeah, FL, 19.1%; Surprise, AZ, 19.0%; Honolulu, HI, 17.8%; Metairie, LA, 17.1%; Cape Coral, FL, 17.0%; Warren, MI, 16.1%; Independence, MO, 16.1%; Miami, FL, 16.0%.

U.S. Census Bureau, 2011

Largest owners of senior housing properties in 2011, according to number of units: 1. Ventas Healthcare Properties, 58,469; 2. HCP, Inc., 36,418; 3. Health Care REIT, Inc., 31.407; 4. Boston Capital, 30,638; 5. Holiday Retirement, 29,636; 6. Brookdale Senior Living, Inc., 20,891; 7. Senior Housing Properties Trust, 19,006; 8. The Evangelical Lutheran Good Samaritan Society, 16,289; 9. Emeritus Senior Living, 15,493; 10. Blackstone Group, 10,285.

American Seniors Housing Association, 2011

Business Trends Source

Annual spending by U.S. consumers ages 55+ has topped the $2-trillion mark since 2009.

A.T. Kearney, 2011

According to a 2011 report by J.D. Power and Associates, drivers ages 65-and-older bought 25% of new cars and trucks, up from 18% in 2008.

Research Alert, 2011

The average annual income for 65+ households in 2010 was $47,603.

 

U.S. Census Bureau, 2011

Share of grandparents in the U.S. in 2010, by age range: 45-54, 20%; 55-64, 34%; 65-74, 26%; 75+, 20%.

MetLife Mature Market Institute, 2011

About 1 in every 10 U.S. households is headed by someone who is a grandparent and has at least one grandchild living with them.

MetLife Mature Market Institute, 2011

According to a 2011 Pew Research Center survey, 39% of adults with parents 65-and-older reported giving their parents financial aid in the past year.

Pew Research Center, 2011

Based on research by the U.S. Census Bureau, percentage of adults in the following age groups who were in skilled-nursing facilities in 2010: 65-74, 0.9%; 75-84, 3.2%; 85-94, 10.4%; 95+, 24.7%.

U.S. Census Bureau, 2011

Misc Source

A 2011 Scarborough Research survey of adults ages 65+, who were employed either full-time or part-time, determined the radio formats that indexed highest among the respondents: 1. Adult Standards; 2. Classical; 3. Classic Country; 4. All News; 5. News/Talk/Info; 6. Talk/Personality; 7. Religious. 

The Center for Media Research, 2011

The elderly are less likely to change residences than other age groups. From 2009 to 2010, only 3.7% of persons ages 65+ moved. Most older movers (62.2%) stayed in the same county and 83.4% remained in the same state.

U.S. Census Bureau, 2011