There are more than 70 million grandparents in the United States, and 1.7 million new grandparents are “born” each year. With the growth of inter-generational households, grandparents lead 37% of all US households. And, with the average age of a first-time grandparent at 48, more than half of these grandparents are Boomers.
Beyond the demographics of grandparents is the joy of being Grandma and Grandpa (or Abuela and Abuelo)! Of all grandparents, 72% think being a grandparent is the single most important and satisfying thing in their lives. And that’s where the real marketing to Boomer women opportunity presents itself.
Marketing to Boomer Grandparents
These Boomer women who love life as a grandma are active, lively and astute. They may knit, but it’s not because they are stuck at home. Here’s how some brands are marketing to Boomer women grandmas.
Mormor is an online Norwegian store that sells baby and children’s wear from the time when Grandma herself was a wee lass (Mormor is Danish for Grandma). Even the employees stem from an era when everything was made by hand. All products are handmade, from pure wool, alpaca wool or cotton. Old knitting and crocheting techniques and patterns have been revived, and colors and materials updated. The products meet modern demands for fashionable children’s clothing as well as for old-fashioned quality and honest materials. Cool little touch: clothes come with a small nametag signed by the Mormor that made the item.
One charming product I came across is My Granny’s Purse by P.H. Hanson, a cross between a pop-up book and a grab-bag, with lots of compartments, each with an intriguing item inside. Filled with colors, textures, shiny objects and sounds, My Granny’s Purse helps the grandmother share times of discovery and delight with her infant or toddler grandchild.
AIG SunAmerica Mutual Funds offers grandparents a program to help educate their grandchildren about such critical matters as saving, planning, and investing for their financial future. The company developed the much-acclaimed K.I.D.S. program (Kids Investing for Dollars and Sense) to help educators, parents and grandparents teach young children the fundamentals of saving and investing.
Do grandmas buy your brand? If you don’t know, find out! This worthwhile market segment is full of joy– and full of desire to spend money as part of their role as grandparent.