Today, the baby boomers which once enjoyed their childhood on classic toys are now grandparents who pass the tradition to their grandchildren. They comprise a large number of the population that are spending their money on purchasing toys for their grandchildren. This trend gives toy manufacturers big profits.
According to the survey, people ages 50 years old above controls 70% of the United States wealth. Some consultants predicted that the population of grandparents will increase to 10 million in the succeeding four years. It was also revealed that grandparents spend 500 dollars each year per grandchild. Collectively, the total amount spent by grandparents on their grandchildren will be 30 billion dollars annually. Mostly, 25% of toy purchase comes from grandparents.
Every year, their group continuously increases. Those born during the 1957 period comprise the largest population of grandparents. It was recorded by demographers as the highest birthrate period. They shared common things like passing their childhood legacy to their grandchildren. It is also their way of bringing back old memories to stay young.
Kevin Curran, the Fisher-Price (Mattel subsidiary) general manager and senior vice-president stated that greater numbers of boomers becoming grandparents will contribute to their higher toy sales. It was because their toys are three generations older compared to other manufacturers. They even have toys that break sales records like the “Little People” play set which is 45 years older. Fisher-Price also created their “Loving Your Grandbaby” magazine to attract more buyers.
Boomers grandparents have their own categories for toys. They shows interests on learning toys which promote creativity in music and art, nostalgic toys like Snoopy Sniffer and Price’s Telephone, and modern electronic like the Kid-Tough Digital Camera which enables their grandchildren to keep in touch with them through email photos when they are on a vacation.
It’s not so surprising that Grandparents’ Rewards Club was launched by KB Toys. KB Toys in their recent reward clubs for grandparents, gives them 10% discounts on their items every Tuesdays. They have three area locations in Houston namely Almeda, Baybrook, and Willowbrook malls. They established such strategy because of knowing that boomer grandparents have already a strong segment on buying toys.
The strategy of Sababa Toys is bringing classic toys back once again. They develop nostalgic ways in attracting boomer grandparents. Their products include wood puzzles, Grandparents’ Treasure Chest scrapbook, and matching gifts like ‘Big Brain Academy’ stretching the brain power of kids and ‘Brain Age’ keeping the aging boomer’s memory sharp.
Baby boomers are coming on their grandparenthood stage with a unique history. Some even said that boomer’s parents are experiencing depressions caused by the World War II. As a result, they wanted to give everything to their children. But now, children and grandchildren of baby boomers have the best of everything. So, their reason for giving toys as gifts to their grandchildren is simply to create an unforgettable memory.
Boomers always appear contradictory. Some wanted their grandchildren to be more achievement-oriented while others give more emphasis on education. Baby boomers have gone to college with expansive horizons given a privilege idea that everything is possible. They instill this principle to their grandchildren. Baby boomers grandparents are once more technology savvy compared to previous generations. They are comfortable in purchasing modern electronic gadgets during this era.
Some boomer grandparents personally choose the toys they give. They realized that children today want Internet games, CDs and iPods. However, they don’t encourage the purchase of these technological advancements because they just get it anyway. As much as possible, boomers wanted their grandchildren to experience the same childhood they did. They explored the outside environment, played social games, and rode bikes with their family.
The parents of these kids are giving them toys that would help them in their education. But boomer grandparents want to infuse learning in a different way. They want their grandchildren to cultivate their awareness of the world’s beauty and global issues. Quality time is given to their grandchildren ensuring that they would enjoy the moment together. During birthdays and Christmas, they would buy educational toys like science project kits.
Baby boomers grandparents are the targeted buyers of toy industries. It is due to their money and care for their grandchildren. They are perhaps the group who spends their money powerfully throughout the history.
Our website is the best seniorfriendfinder