The American population is getting older. As the Baby Boomer generation ages into retirement and Americans enjoy longer life spans, the demographic makeup of the country is rapidly shifting towards an older population. By 2030, all Baby Boomers will be at least age 65. This unprecedented aging of America holds major implications for consumer packaged goods (CPG) companies and grocery retailers.

One major change will be shifts in household dynamics that affect shopping behaviors. For some older consumers, aging means smaller households as children grow up and couples face divorce or widowhood later in life. Our research shows that a single-person household spends 16% less per year than a two-person household.

For others, aging brings larger households from multigenerational cohabitation. As younger relatives take on caregiving roles, their buying behaviors will influence household spending. 

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