Introduction
Empty Nesters are more numerous, more wealthy and more inclined to spend
their money on self-rewarding behavior than ever before. They develop new
purchasing habits and new consumer packaged goods (CPG) needs as they adjust to
their new freedom. These factors make Empty Nesters an important and valuable
market worth US$645bn in 2003.
Scope of this report
- Complete breakdown of all Empty Nesters in Europe and the US by size,
income, age and annual per capita CPG spending.
- In-depth insight into the drivers of Empty Nesters' high CPG spending and
strategies for targeting this opportunity.
- Analysis of how age affects Empty Nesters' habits and how needs,
motivations and attitudes change with time.
- Detailed examination of new products aimed at Empty Nesters, illustrating
how to develop successful products for this market.
Research and analysis highlights
Age defines Empty Nesters' spending patterns. Early Empty Nesters (aged
between 50 and 64) have high disposable incomes and spend lavishly on rewarding
themselves. Late Empty Nesters (aged 65 years and over) have more limited
budgets, leading to a greater emphasis on value in their CPG purchases, with
high spending reserved for special occasions.
The rapid growth in Empty Nester spending comes as a result of increasing
incomes coupled with people planning for a self-rewarding retirement. Empty
Nesters spent US$462 billion on CPG products in Europe and US$200 billion in the
US in 2003. Early Empty Nesters spend on average US$5,500 per person per year on
added value CPG products.
One of the major changes which occurs to most Empty Nesters is the increase
in socializing. Empty Nesters engage in 51 million Entertaining At-home
occasions per year in Europe and 26 million per year in the US. This high level
of socializing leads to new CPG consumption habits and needs.
Key reasons to read this report
- Learn the value of this numerous, wealthy and growing consumer group, and
discover how to profit from Empty Nesters.
- Understand the transitions which Empty Nesters face and win customer
loyalty by helping them to adjust to their new lifestyles.
- Increase sales by developing products, branding strategies and marketing
messages which meet the specific needs and attitudes of Empty Nesters.
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