How to Market to Multigenerational Households
More households are making room for additional adult generations in their households. This trend is accelerating from all directions –young and old.
- Young adults are moving back home
- Elderly parents are moving in with middle-age children
- Middle-aged children moving with their elderly parents
This trend of the multigenerational household is an arrangement usually spurred by the need to combine resources and save money. Another popular situation is a grandparent moving in with an adult child's family for care giving reasons.
Following the new marketing trend focusing on multigenerational households has many opportunities. Home renovations and realtors are two industries obviously affected by the rise of multi-gen households. They are also leads for insurance, technology, travel, automotive and financial services companies. It is easy to see why people would be keen prospects for long term care insurance when they have become care givers to elderly parents who moved in with then.
Families of multiple generations may have moved in together for financial reasons. This can also free up more discretionary income for the single seniors or recent college graduates who no longer have to pay all their rent and expenses on their own.
ListAbility provides demographic mailing lists that can be segmented by generations in a household, senior or young adult present, age of the head of household, age of additional individuals present, children present, income and homeownership. These and other selections can help you to target the right audience for your campaign to multi-gen households.
Our consumer mailing list is highly accurate with over 179 million individuals in 120 million households.