Quick Stats--Multi-Generational Households
May 24, 2010
The multi-generational family household has been returning since 1980 and at an accelerated pace during the recent recession according to research.
• In 2008 approximately 49 million Americans (16% of the population) lived in households containing at least three generations.
o In 1980 this figure was just 28 million (12% of the population).
• The elderly and the young are especially affected.
o One in five adults (25-34 years) lives in a multi-generational family household as does one in five adults (65 years and older).
• Marketers attempting to target multi-generational family households need to remember that each generation has unique wants and needs that must be addressed differently.
o The Greatest Generation (65+) is value oriented and finds freebies and senior discounts appealing.
o Boomers (45-63) are big spenders and are happy with regular cash-back savings programs that reflect spending levels.
o Generation X (33-44) are time starved, so packaged deals appeal to them.
o Millenials (15-32) are visually oriented and are constantly connected to the Internet via portable devices.
--The Pew Research Center
From "QuickBites," by Sam Geist. (800) 567-1861, http://www.samgeist.com
PHCC Educational Foundation.
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