Complexities and Market Implications of the ‘Sandwich Generation’.

Communispace, a leading provider of online customer insight communities, today released the findings from its latest research, “The Sandwich Situation: A layered looks at the complex lives of multi-generational caregivers,” providing an in-depth analysis of the lives, needs and choices of this growing population. Over 20 million Americans find themselves “sandwiched;” simultaneously taking care of aging parents while raising small children and teenagers. Communispace looked across their communities at sandwiched men and women to generate insights, through earnest and intelligent listening, that will help brands better understand this emerging consumer segment and drive innovation for a variety of industries, including insurance, financial services, pharmaceutical, healthcare and travel.

One of the most significant findings to emerge from Communispace’s research is that the sandwich generation is more of a situation than a quantifiable age group. Members range from their 20s to their 60s, and the challenges they face span income and geographies. Communispace learned that sandwiched people view caring for their children as a natural and rewarding aspect of life, but feel that caring for aging parents is a stressor that is unexpected, unpredictable and incredibly frustrating. Despite these findings, sandwiched people are overwhelmingly more likely to sacrifice to help their parents, even at the sake of their own children:

* 58 percent said they would give a spare bedroom to an aging parent over their young adult child
* 65 percent said they would move in with an ailing parent, even if it meant a longer commute and/or a new school for their children
* 77 percent would change their purchasing behavior to accommodate their parents; for example, choosing a car with a larger trunk to hold a parent’s walker over one that is comfortable or gets good gas mileage

“We were struck by how strongly members felt about off-target marketing messages,” noted Julie Wittes Schlack, Communispace’s SVP of Innovation and Design and a lead researcher on the project. “Advertisements that relied on fear-mongering and sugar-coating were absolutely repellant to people; but messaging that was realistic, reassuring and empowering was seen very positively. Marketing messages have to strike that balance between reassurance and realism, innovation and tradition.”

The study also revealed a need for products and services targeted specifically to this unique market segment.

* 47 percent would like the ability to carry both their parents and their children on their health insurance, and 45 percent highly ranked a flexible long-term care policy that would cover their parents and themselves at different points in time
* 26 percent liked the idea of a service to dispense or remind their parents to take their medication
* 22 percent liked the idea of a service to install webcams in their homes or that of their parents
* 26 percent liked the idea of airline packages that would provide discounts on multiple trips to the same location or offer a reduced rate for children

Caring for elderly parents is not a concern limited to boomers; 83 percent of the Millennials participating in this study are already thinking about how they’ll handle this challenge.

“Not only did participants suggest ideas for the product categories you’d expect, such as insurance or healthcare, but they talked about the brands and services they rely on across many other domains, such as personal care, cleaning products, and food and beverage,” Wittes Schlack continued. “For Millennials and boomers alike, the need for products providing comfort and reliability suggests new opportunities for brands not usually associated with caring for the elderly.”

To download report CLICK on link below:
http://www.communispace.com/research/abstract/?Type=Cultural%20Context&Id=69>