STUDY FINDS GRANDPARENTS BEING IGNORED
By Adnews Staff
Grandparents are expected to spend $25.6 billion annually in the U.S. by the year 2000, according to a study by New York-based Packaged Facts. This substantial market is being left virtually untapped by youth-obsessed marketers, says the research firm. People aged 45 to 54 are at their peak earning years, are usually married and often still have children at home. Americans aged 55 to 65 hold more than half of the nation's discretionary income of $130 billion. Many grandparents feel they have more disposable income to spend on personal enjoyment and buy gifts frequently. Fifty-three per cent bought gifts for their grandchildren in the past month and 46% sent cards. Instead of video games, they are more likely to buy items reminiscent of their own childhood or child-rearing years, such as dolls and coloring books. More than 70% of adults over 50 are enthusiastic magazine readers. Those over 45 make up the largest TV audience, and they spend more money than all other adults combined.