Mature Market in the U.S.

Table of Contents

Chapter 1: Executive Summary

• Scope and Methodology
  • Scope of Report
  • Report Methodology
• Demographics
  • Increased Lifespans Accompany Improved Quality of Life
  • Mature Adults Retain a Youthful Outlook
  • Boomers Force Marketers to Anticipate Needs of Aging Population
  • Mature Adults Are the Fastest-Growing Demographic
  • Adults 50+ Wield Significant Spending Power
  • Frail Older Adults Still Vulnerable
• Lifestyle, Health, and Wellness
  • Fitness Possible at Any Age
  • Medical and Tech Solutions in High Demand
  • Socializing + Exercise = A Winning Combination
  • Fastest-Growing Health Club Memberships Are 55+
  • Physically Active Adults Especially Attuned to Nutrition, Health Figure 1-1
  • Selected High Index Activities/Attitudes Among Mature Market Adults Who Participate in Exercise/Physical Fitness Activities 3 or More Times Weekly, 2006 (U.S. adults age 55+)
• Personal Finance and Home Ownership
  • Mature Adults Experiencing Greater Economic Well-Being
  • Mature Clients Require Personalized Financial Strategies
  • Mature Workers Keep Working; Employers Court Experience
  • Generation Gap is “Out”; Financial Gap is “In”
  • Many Worry Retirement Savings Won' t Meet Future Needs
  • Home Ownership Linked with Financial Comfort
  • Low-Risk Investments Popular Among Mature Cohort
• Internet and Telecommunications
  • Comfort Level Reflects Mature Age Segment, Experience
  • Despite Converging Generational Values, Tech Gap Remains
  • Mature Market Adults Under Age 70 Lead Online Growth
  • Mature Market Computer Use Parallels Online Status
• Travel, Transportation, and Entertainment
  • Driver' s License Central to Mature Adults' Work, Leisure Pursuits
  • Loss of Driving Capability Detracts from Independence, Quality of Life
  • Mature Adults Prefer Many Safety Features in Cars
  • Drivers Over Age 65 to Double by 2030
  • Mature Adults Likely to Buy Cars New, Opt for Amenities
  • Figure 1-2: Selected High and Low Index Mature Market Demographics for Activities and Attitudes Related to Transportation and Travel, 2006 (U.S. adults age 55+)
  • Domestic Brands Lure Mature Drivers
  • Mature Adults Open to New Experiences, Especially In-Country
  • Domestic Travel Attracts Vacation Home Owners, Grandparents

Chapter 2: Demographics

• The Mature Market: A Whole New Game
• Increased Lifespans Accompany Improved Quality of Life
• Mature Adults Retain a Youthful Outlook
• Boomers Force Marketers to Anticipate Needs of Aging Population
• Mature Adults Are the Fastest-Growing Demographic
• Adults 50+ Wield Significant Spending Power
• Frail Older Adults Still Vulnerable
• Mature Adults Still Vibrant, Young Inside
• Fears of Aging May Inhibit Targeted, Innovative Campaigns
• Savvy Marketers Can Adapt Products, Services to Support Quality of Life
• Diverse Interests and Needs Characterize Mature Adults
• Chronological Age Less Important than Values, Life Stage
• Figure 2-1: Share of Mature Market by Race/Ethnicity, 2006 (U.S. adults age 55+)
• Among Working Matures, Occupations Vary by Gender, Ethnicity
• Distribution by Age Bracket Reveals Some Commonalities
• Leading Edge Boomers 55-64 Still Working, Supporting Families
• Youngest Mature Household See Biggest Share of Employment Income
• Children, Grandchildren Still Play Major Role
• Mature Hispanic Households Highly Child-Focused
• Mature African American Households Often Supporting Youngsters
• Young Seniors Age 55-64 Share Memories of Conformity and Revolution
• Lower Education Levels Among Young Seniors vs. Boomers
• Most Young Seniors Retired From Full-Time Careers
• Additional Income from Social Security, Pensions, Investment
• Adults 75 and Over Survived Hard Times
• Quality of Life Centers on Positive Attitude
• Longevity Correlated with Active, Engaged Lifestyle
• Looking Ahead: Advice for Marketers
• Mature Market Wide Open for Those with Imagination, Focus
• Research Discrete Segments of Mature Market
• Whatever the Channel, Build Emotional Bonds
• Allow for Joint Decision-Making Occasions
• Table 2-1: Overview of Mature Market Demographics, 2006 (U.S. adults age 55+)
• Table 2-2: Overview of Mature Market Demographics: Women, 2006 (U.S. adults age 55+)
• Table 2-3: Overview of Mature Market Demographics: Men, 2006 (U.S. adults age 55+)
• Table 2-4: Overview of Mature Market Demographics: Non-Hispanic Whites, 2006 (U.S. adults age 55+)
• Table 2-5: Overview of Mature Market Demographics: Hispanic Americans, 2006 (U.S. adults age 55+)
• Table 2-6: Overview of Mature Market Demographics: African Americans, 2006 (U.S. adults age 55+)
• Table 2-7: Overview of Mature Market Demographics: Adults Age 55-64, 2006 (U.S. adults)
• Table 2-8: Overview of Mature Market Demographics: Adults Age 65-74, 2006 (U.S. adults)
• Table 2-9: Overview of Mature Market Demographics: Adults Age 75 or Over, 2006 (U.S. adults)

Chapter 3: Lifestyle, Health, and Wellness

• Fitness Possible at Any Age
• Medical and Tech Solutions in High Demand
• Socializing + Exercise = A Winning Combination
• Mature Athletes Open Up Marketing Opportunities
• Senior-centric Fitness Programs Promote Wellness, Generate Revenue
• Fastest-Growing Health Club Memberships Are 55+
• Health Clubs Catering to Disabled, Impaired
• Nursing Homes See Big Benefits from Resident Exercise Programs
• Fitness Industry Must Accommodate Mature Adults
• Physical Health, Mobility, Independence Rank High for Matures
• Mature Market Adults Value Doctors' Advice, Medications, Nutrition
• Physically Active Adults Especially Attuned to Nutrition, Health
• Figure 3-1: Selected High Index Activities/Attitudes Among Mature Market Adults Who Participate in Exercise/Physical Fitness Activities 3 or More Times Weekly, 2006 (U.S. adults age 55+)
• Mature Adults Going to Internet for Medical, Health Answers
• Leading Edge Boomers Much More Internet Savvy Than Elders
• Computer Literacy Lower Among Older Mature Market Adults
• Socioeconomic Level, Age Bracket Predict Internet, Computer Comfort
• Computer, Internet Use Skews Toward Health Info, Pharmaceuticals
• Education Level, Age Bracket Linked to Health Literacy, Self-Determination
• Low Education Levels Linked with Poor Physical, Emotional Health
• Low Health Literacy Among Seniors Interferes with Healing
• Home Monitoring Improves Patient Health, Caregiver Peace of Mind
• Telehealth Options Offer Reduced Costs, Personalized Care
• Technology Offers Patients Greater Control, Freedom, Comfort
• Electronic Monitoring Keeps Doctors Connected, Informed, Mobile
• Adaptable Med/Tech Devices Promise Mobility, Independence
• Table 3-1: Selected Lifestyle Statements: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 3-2: Indices for Selected Lifestyle Statements Among Mature Market Adults: By Age Bracket, 2006 (U.S. adults age 55+)
• Table 3-3: Indices for Selected Lifestyle Statements Among Mature Market Adults: By Number of Times Weekly Participate in Exercise/Physical Fitness Activities, 2006 (U.S. adults age 55+)
• Table 3-4: Indices for Selected Lifestyle Statements Among Mature Market Adults: By Gender, 2006 (U.S. adults age 55+)
• Table 3-5: Indices for Selected Lifestyle Statements Among Mature Market Adults: By Socio-Economic Level, 2006 (U.S. adults age 55+)
• Table 3-6: Indices for Selected Lifestyle Statements Among Mature Market Adults: By Residence in Retirement Home, Nursing Home, or Assisted Living Facility, 2006 (U.S. adults age 55+)
• Table 3-7: Indices for Selected Lifestyle Statements Among Mature Market Adults: By Employment Status, 2006 (U.S. adults age 55+)
• Table 3-8: Indices for Selected Lifestyle Statements Among Mature Market Adults: By Race/Ethnicity, 2006 (U.S. adults age 55+)

Chapter 4: Personal Finance and Home Ownership

• Mature Adults Experiencing Greater Economic Well-Being
• Mature Clients Require Personalized Financial Strategies
• Mature Workers Keep Working; Employers Court Experience
• Generation Gap is “Out”; Financial Gap is “In”
• Full-Time Hours on the Rise for Senior Workers
• Many Worry Retirement Savings Won' t Meet Future Needs
• Many Matures Keep Working for the Fun of It
• Self-Employment Common Among Mature Market Adults
• Mature Adults Feel More Secure Than Adults on Average
• Home Ownership Linked with Financial Comfort
• Home Purchase, Mortgage Payoff, and Renovations Boost Financial Well-Being
• Financial Comfort Predicts Reading of Financial Pages
• Majority of Mature Adults Say They' re Savvy Money Managers
• Low-Risk Investments Popular Among Mature Cohort
• Figure 4-1: Selected High Index Investment and Banking Instruments Among Mature Market Adults, 2006 (U.S. adults age 55+)
• Stocks, Securities See Significant Investment
• Financial Security Eludes the Under-employed, Under-educated
• Money Worries Widespread Across Socioeconomic Levels
• Feeling Secure Does Not Guarantee Being Secure
• Mature Market Adults Shy Away from Retirement Planning
• Mature Market Hispanics and Blacks Especially Vulnerable
• Reliance on Credit Cards Fuels Increased Debt Among 55+
• Mature Adults Prefer to Pay Credit Balances in Full
• Sprees in Early Retirement Can Become Long-Term Debt
• Financial Emergencies Create Slippery Slope of Credit Debt
• Visa, MasterCard Popular; Reward Points Draw Wallet-Conscious Seniors
• AmEx Green Inspires Loyalty: It' s All About the Points
• AmEx Blue a Popular, Fee-Free Card
• Should Credit Cards Offer Senior-centric Rewards?
• Life, Health Insurance Policies Draw Mature Dollars
• Mature Adults Sell Life Insurance Policies to Raise Cash
• Life Settlement Industry Is Big Business
• Life Settlement Bridges Financial Gaps
• Insurance Industry Wary of Growing Trend
• Caregivers Leave Jobs, Incur Debt to Help Loved Ones
• Financial Burdens Significant, But Frantic Caregivers Put Loved Ones First
• Long-Term Care Insurance May Offer Viable Alternative
• Long-Term Care Market Risky for Insurers: Deep Pockets Needed
• Employers See Growing Demand for Long-Term Care Insurance
• Cooperation Between Governments, Private Industry May Relieve Pressure on Medicaid
• BlueCross/BlueShield of Michigan Develops Innovative, Cost-Cutting Products
• LifeSecure, Healthy Blue Reward Healthy Living
• Home Equity Can Keep Seniors at Home, Out of Nursing Homes
• Mature Adults Prefer to Age in Place
• Mature Migration Split Down Ability/Disability Line
• Higher Migration Rates Among Mature Adults with Disabilities
• Aging in Place Fosters Independence, Quality of Life
• Universal Design Can Reduce Healthcare, Insurance Costs
• Universal Design Slowly Entering Cultural Awareness
• Reverse Mortgages Offer Elegant Financial Solutions
• Growing Trend Helps Fund Retirement, Pay Off Debt
• Financial Freedom Senior Funding Offers Several Product Options
• Creative, Personalized Financing Vital to Mature Market Security
• Table 4-1: Overview of Attitudes and Opinions about Finance and Home: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 4-2: Mature Market Traits in Relation to Agreement With Statement: I Feel Secure Financially, 2006 (U.S. adults age 55 or over)
• Table 4-3: Mature Market Traits in Relation to Agreement With Statement: I Read the Financial Pages of My Newspaper, 2006 (U.S. adults age 55 or over)
• Table 4-4: Overview of Housing and Home Improvement Patterns: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 4-5: Overview of Investment and Banking Patterns: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 4-6: Mature Market Traits in Relation to Agreement With Statement: Investing in the Stock Market Is Too Risky, 2006 (U.S. adults age 55 or over)
• Table 4-7: Overview of Credit Card Usage Patterns: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 4-8: Overview of Insurance Patterns: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 4-9: Mature Market Traits in Relation to Agreement With Statement: My Home Is an Important Part of Who I Am, 2006 (U.S. adults age 55 or over)

Chapter 5: Internet and Telecommunications

• Comfort Level Reflects Mature Age Segment, Experience
• Technology Helps Bridge Former Generation Gap
• Despite Converging Generational Values, Tech Gap Remains
• Technology Gap Divides Younger, Older Mature Market Segments
• Figure 5-1: Selected High and Low Index Mature Market Demographics for Agreement with Statement “The Internet Has Had No Impact on My Life,” 2006 (U.S. adults age 55+)
• Age a Strong Predictor for Internet Access
• Mature Market Adults Under Age 70 Lead Online Growth
• Long-Range Tech Access Strategies Should Assess Elder Needs
• Online Elders Experience Less Depression, Greater Sense of Control
• Education, Socio-economics, Life Stage Also Predict Internet Use
• Mature Market Computer Use Parallels Online Status
• Matures' Purchase of Software, Add-Ons Parallels Younger Generations' , But in Fewer Numbers
• Mature Market Less Enthusiastic Than Younger Set About Gaming, WebCam Accessories
• Computing Accessories Represent Opportunity for Growth
• Relevance, Accessibility, Ease of Navigation Essential for Discrete Mature Segments
• SeniorNet Brings Mature Market Adults into the Loop
• IBM Simplifies Web Access for Seniors, Visually Disabled
• cRANKy.com Search Engine Narrows Hits to Mature-Relevant
• Mature-Focused Social Networking Sites Expect Exponential Growth
• Access to Land Line Phones Virtually Universal; Special Features Help Mature Adults Connect
• Even Cell Phone Use Reflects Digital Divide
• Mature Market Adults Value Conversation Over Gadgets
• Simplicity Trumps Add-Ons, Especially for Over-65
• Jitterbug Cell Phones Push Simplicity, Safety
• Jitterbug Phone May Need to Work Out a Few “Bugs”
• Senior Friendly Cell Phones Have Big Buttons, High Sound Quality
• Motorola RAZR Not Just for Teenie-Boppers Anymore
• Mature Market Adults Share TV Love with Younger Generations
• Fancy Gizmos Less Important Than Reliable Service
• Mature Market Adults Favor News, Movies on Cable Channels
• Game Shows, Interviews, News, and Information Draw Age 55+
• Retirement Living Television Scores Relevance Bull' s Eye
• With Targeted Programming, “TV Finally Grows Up!”
• Table 5-1: Overview of Attitudes and Opinions about Technology and Media: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 5-2: Mature Market Traits in Relation to Agreement With Statement: The Internet Has Had No Impact on My Life, 2006 (U.S. adults age 55 or over)
• Table 5-3: Personal Computer (PC) Usage at Home: Adults Overall, Adults Age 55-64, and Adults Age 65 or Over, 2005 (U.S. adults)
• Table 5-4: Use of Personal Computers and the Internet: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 5-5: Use of Telecom Equipment: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 5-6: Use of Audio-Visual Consumer Electronics (Including TV): Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 5-7: Use of Television: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)

Chapter 6: Travel, Transportation, and Entertainment

• Driver' s License Central to Mature Adults' Work, Leisure Pursuits
• Loss of Driving Capability Detracts from Independence, Quality of Life
• Stereotypes Obscure Real-Life Impact of On-the-Road Behavior
• Older Drivers Can Adapt to Changing Physical Capabilities
• In-Vehicle Technologies Can Enhance Visibility, Performance
• Mature Adults Prefer Many Safety Features in Cars
• Drivers Over Age 65 to Double by 2030
• Mature Adults Likely to Buy Cars New, Opt for Amenities
• Figure 6-1: Selected High and Low Index Mature Market Demographics for Activities and Attitudes Related to Transportation and Travel, 2006 (U.S. adults age 55+)
• Vision Enhancement Systems Provide Nighttime Back-Up
• Cadillac' s “Night Vision” Started Hot, Chilled Quickly
• Collision Avoidance Systems Offer Electronic Buffer
• Global Positioning Systems Attract Married, Active Seniors
• Practicality, Reliability, Domestic Manufacture Dominate Mature Vehicle Choices
• Full-Size Chrysler 300C Combines Style, Safety, Luxury Across Generations
• Domestic Brands Lure Mature Drivers
• Car-Based Pollution Concerns Majority of Mature Americans
• Hybrid Vehicles Unexpectedly Popular Among Diverse Mature Segments
• Toyota Welcab Promotes Mobility, Independence
• Compact, Sporty Vehicles Keep Disabled, Elderly Drivers Mobile
• Toyota Betting on Long-Term Mainstreaming of Welcab Options
• Mature Adults Open to New Experiences, Especially In-Country
• Domestic Travel Attracts Vacation Home Owners, Grandparents
• Alaska Offers Wilderness, Adventure, Natural Beauty
• In Maine, Count on Wildlife, Fall Foliage, and Maple Syrup
• Grandtravel Promotes Adventure, Education for Both Generations
• “Soft Adventure” Lures Physically Fit
• Arts, Culture, Lifelong Learning Add Meaning to Getaways at Home and Abroad
• Voluntourism, Spiritual Quests Keep Leading Edge Boomers Young
• Table 6-1: Overview of Attitudes About Transportation, Travel, and Entertainment: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 6-2: Overview of Transportation Patterns: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 6-3: Mature Market Traits in Relation to Agreement With Statement: Normally Buy Cars Brand New, 2006 (U.S. adults age 55 or over)
• Table 6-4: Mature Market Traits in Relation to Agreement With Statement: Am Worried About Pollution Caused by Cars, 2006 (U.S. adults age 55 or over)
• Table 6-5: Overview of Travel Patterns: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 6-6: Mature Market Traits in Relation to Agreement With Statement: Prefer to Travel Within the U.S., 2006 (U.S. adults age 55 or over)
• Table 6-7: Mature Market Traits in Relation to Agreement With Statement: Often Go on Long Car Trips for Vacation, 2006 (U.S. adults age 55 or over)
• Table 6-8: Activity- and Event-Based Trips and Entertainment: Cruises, Theme Parks, Sporting Events, and Casinos Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 6-9: Selected Leisure and Entertainment Activities: Adults Overall, Adults Age 18-54, and Adults Age 55 or Over, 2006 (U.S. adults)
• Table 6-10: Mature Market Traits in Relation to Agreement With Statement: Consider Myself Interested in the Arts, 2006 (U.S. adults age 55 or over)