Silver Consumers in the US, 2019
In this report, we look at the senior population in the US, its spending power and spending habits.
- The 65+ age group accounted for 16% of the US population in 2018, or over 50 million people, and is expected to grow by 40%, or 20 million, through 2030.
- Spending by senior households amounted to $1.6 trillion in 2017, up 10% year over year.
- Of the $1.6 trillion, $1.0 trillion was spent by households headed by those between the ages of 65 and 74, while the remaining $0.6 trillion was spent by households headed by those aged 75 and over.
- Apparel is one category that US senior households underindex on severely: They account for just 16% of total consumer household spending on the category compared to their 24% share of US households.