Quick Stats--Multi-Generational Households

May 24, 2010

QUICK STATS

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

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