Hoping to understand the mindset as well as the spending, media, and behavioral habits of American grandparents, Grandparents.com has commissioned a study entitled “Meet the Grandparents: Introducing Today’s First Time and Seasoned Grandparents.â€
In general, grandparents now are different because they are active, online, youthful and open to new media and experiences. Some the key results of this report include:
- Grandparents spend nearly $1,700 on every new grandchild, and this number is significantly higher among first-time grandparents than seasoned grandparents ($1,882 vs. $1,501).
- 72% of grandparents start spending before the child is born.
- 59% believe it’s important to make financial investments for their grandchildren.
- The Internet is cited as the most widely used source for grandparenting information.
- 71% of grandmothers and 51% of grandfathers tell others about products that excite them, indicating how effective word of mouth marketing is with this group.
“The enthusiasm and sometimes uncertainty that accompanies entry into a new life stage sparks gravitation toward new products and media to ease the transition. The grandparent life stage represents a springboard to spend discretionary income and consume child-related products and services that many have not considered for decades,” said Grandparents.com CEO Jerry Shereshewsky.
Originally posted on December 6, 2007 @ 12:40 pm