Older Americans Spending Proportionately More On Food Consumed @ Home.

Older American consumers are spending proportionately more on food that they consume at home, according to “The U.S. Market for 55+ Consumers,” a new report by market research publisher Packaged Facts. Those between the ages of 65 and 74 allocate 8.9% of their expenditures to food at home, while those ages 75 and over allocate 9.2%. This is significantly higher than the U.S. population at large, which allocates around 7.6%.

The report goes on to show that overall spending by consumers in the 55+ age group for food at home totals over $101 billion annually. The food industry is just one of many that will reap the benefits of an aging U.S. population that is 64 million strong and has $2.4 trillion in buying power.

The report also found that the work, rather than age, is a defining factor among the 55+ crowd. For example, attitudes and behavior of 60+ workers are closer to people in their late 50s than retired people. Also, workers in their 60s are more likely than retired people to have credit cards, new car loans, home mortgages, and life insurance.

“Fewer and fewer people will retire the old-fashioned way, said Don Montuori, Acquisitions Editor for Packaged Facts. “More people will continue working past traditional retirement age or go back and forth into the labor force. And when they do retire, people are seeking new models for retirement (for example, living among “like-minded neighbors”).

For more information at http;//www.PackagedFacts.com