Mass Market
The number of Americans over the age of 55 is expected to grow by 60 percent in the next 20 years, eventually reaching 30 percent of the U.S. population by 2022, according to a recent report titled “The U.S. Mature Market: New Perspectives on the 55+ Consumer.” The report, compiled by research firm Packaged Facts, estimates the buying power of those 55 and older will exceed $2 trillion by 2007. Packaged Facts is already finding ripple effects from the market’s buying power, as grandparents spent nearly $23 billion on children’s apparel and toys in 2002.
