Commentary

More Gray, More Affluent, More Internet Shopping

More Gray, More Affluent, More Internet Shopping

In the more than 80 metropolitan markets surveyed by The Media Audit, a recent study shows that those who are over age 50 with incomes of $50,000 or more (the "graying and affluent") have increased from 17.0 million in 2004 to 22.3 million during the past five years. Collectively, the markets surveyed have an adult population of approximately 142 million.

Bob Jordan, president of International Demographics, producer of The Media Audit, said "Since 2004 the percentage of  ‘graying and affluent' households has increased from 13.1 percent to 15.7 percent of all households in the markets (surveyed)... (and) this group is very rapidly embracing the internet as a shopping medium."

In the prior survey, 50.2 percent had made at least one purchase on the internet during the previous 12 months. In the latest survey, that 50.2 percent increased to 65.6 percent.

 Currently, 62.4 percent of the "graying and affluent" households have incomes of $75,000 or more, says the survey, compared to 57.5 percent in 2004.

  • Thirty-eight percent had incomes of $100,000 or more compared to 32.9 percent in 2004
  • Eighteen percent had incomes of $150,000 or more compared to 13.6 percent in 2004

 According to Jordan, "The baby-boomers, born between 1946 and 1964, began impacting this segment of the population in 1996, and their impact will continue to be felt through 2014."

 Within the gray and affluent group there were important changes in family size:

  • In 2004, 61.6 percent of "gray" households had one or two persons. That increased to 63.5 in the most recent survey
  • The number of gray and affluent households with 3 or 4 members decreased from 31.2 to 29.7
  • Households with 5 or more members declined from 7.1 to 6.8

 The gray and affluent households with liquid assets of $100,000 or more increased from 49.5 percent to 53.6 percent and those with $250,000 or more increased from 25.2 percent to 30.2 percent.  

 For additional information about The Media Audit, please visit here.

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