- Apr 24, 2012
Where Senior Dollars Go
(spending on consumer goods by households age 55 to 74)
For those in the 55-to-74 age bracket, the category-by-category breakdown of spending reveals the changing needs of the population. Healthcare makes up about 10 percent of those costs; food consumed at home is about 7 percent, dining out accounts for 5 percent, and apparel and services make up 3 percent of the total. About 1 percent of expenditures for those 55 to 74 are for personal care products.
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Mature Consumers’ Favorites
(top retail categories in 68 counties with high senior concentrations and fast-growing sales)
To develop this chart, Nielsen Co.’s senior data product manager, Greg Fisher, first identified spending patterns in the 68 counties where consumers age 55 to 74 make up a higher percentage of the population and retail sales growth is also above the national average. Fisher then developed an index for those counties based on data for all U.S. counties.
In 20 product categories, spending was more than twice the national baseline of 100. Among the notable store categories are health and personal care, convenience stores, warehouse stores and club stores and grocery stores. Also represented in the top group are multiple home-related categories: garden supplies, building materials, appliances and hardware.