Course Hero 21 - 1 Why is the senior market becoming more...

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1. Why is the senior market becoming more attractive? 2. What generational group is powering the growth of seniors? Although older Americans are often overlooked in the rush to target hipper, younger groups as customers, in reality, seniors are a huge market—and getting bigger. According to the U.S. Census Bureau, Americans aged 65 and up account for 12 percent of the population (or about 37 million people). What’s more, by 2030, the Census Bureau projects people over 65 will account for 20 percent of the population. One-reason seniors are such a profitable market is that they’re typically underserved. In a recent Market Watch article on the topic, Internet expert Jakob Nielsen says though there’s far more interest in catering to teenagers, “there is probably 10 times much money to be made from seniors”. Seniors have far more income than teens—and in fact are affluent overall, Market Watch reports. The median net worth of households aged 65 and over was $108,885 in 2000, while those under age 35 had a median household net worth of just $7,240. Seniors are also more likely to be homeowners
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