That's why it is well worth the effort to understand and anticipate the needs and desires of even the smallest consumers. The growing number of grandparents represents another lucrative opportunity for selling to the youth market. According to a 1992 Roper Organization survey, almost 60 million Americans are grandparents, and baby boomers are expected to drive the numbers even higher as we move into the next century. In fact, Roper predicts that 76 million Americans may be grandparents by the year 2005, increasing the ranks by 25 percent over 1992 numbers. One out of every three grandparents takes their beloved heirs to a restaurant at least once a month, and almost as many go shopping with them, reports American Demographics.
Grandparents also escort grandchildren on trips, to movies and to sporting events.
Grandparents continue to hold tight to their role as toy-buying champs. More than 50 percent bought their favorite little ones a gift in the month before the Roper survey was conducted. Older grandchildren open up another kind of business opportunity. Grandmother Sunie Levin, a writer and consultant specializing in grandparents and grandchildren, counsels clients who include stockbrokers and banks as well as toy manufacturers. Because grandparents are investing in their grandchildren's futures, with college tuition assistance, expense accounts and even trust funds.