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News From The New Numbers Ten Trends For 2020 October 4, 2011 Washington, DC Brad Edmondson www.bradedmondson.com
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April 1, 2010: 308, 745, 538 Now 312.3 million, adding 7,200 a day 27 million more than 2000 (<1% a year) 75 million children (<18) 115 million young adults (18-44) 78 million baby boomers (45-64) 40 million older adults (65+) 53% of growth in TX, CA, FL, GA, NC, & AZ
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The Cultural Pie, 2010
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1. Growth equals Hispanics
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2. The rise of Latino citizens The next America Mexican immigration, 2000-2010: 4.2 million Mexican American births: 7.2 million How to become white
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3. Multiracial affluence
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How ethnic foods go mainstream (Lars Perner, University of Southern California)
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4. Hard times for the young Percent change in median household income by age of householder, adjusted for inflation, 1990-2010
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5. Getting serious about saving Young people are: --Abandoning marriage --Driving less --Doing it themselves --Eating less meat --Supercouponing
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6. Childhood is changing Percent of US children whose families are Nonwhite or Hispanic: 43% Unmarried households: 31% Getting by or better: 54% Able to save for college: 36%
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Why boomers still rule US birth rate, 1909-2004. Source: NCHS Division of Vital Statistics
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Boom, bust, and boomlet US population by single year of age, 2011: 0-18 gray (unnamed), 19-32 green (Millennial), 33-45 yellow (baby bust), 46-65 red (baby boom), 66-80 blue (swing), 81-plus rose (WWII)
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7. An aging population Projected percent change in population by age groups, 2010-2020 Source: Census Bureau
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The Good Years Median household income by age of householder, 2010
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8. Boomers are buckling down Percent change in median household income by age of householder, 2000-2010
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And the winners are… Median adjusted household income by sex and marital status, 1970-2007
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9. What AARP wont tell you Retirement is not a nice word Boomers are working longer Those who can retire dont want to Convenience food for 60+ workers
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10. Still the golden years Percent change in median household income by age of householder, 2000-2010
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Still spending: aged 65 to 74 Index of spending on selected products for householders aged 65 to 74, 2009 Drugs (178%) Medical supplies (152%) Personal care (101%) Reading (140%) & stationery (118%) Housewares (130%) Housekeeping supplies (117%) Beef (109%) & seafood (113%) Pets, toys, & hobbies (112%) Fresh produce (104%)
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Still spending: 75 & older Index of spending on selected products for householders aged 75+, 2009 Drugs (162%) Medical supplies (133%) Personal care (77%) Reading (122%) & stationery (116%) Housekeeping supplies (89%) Fruits and vegetables (83%) Cereal and bakery (82%)
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Uncharted Territory Projected population aged 75 and older, 2010-2050, in millions
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Wisdom from elderly pioneers Kitchen workarounds High tech memory aids Low-tech bionic aids Social media
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Summary: youth Hispanics & Asians are driving growth Hispanic births outnumber immigration Multicultural affluence & influence Young adults are much poorer Serious savings strategies Most parents are pinched
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Summary: Boomers & beyond Rapid growth in store among 65+ Boomers free spending days are over The new royalty: dual-earner professionals Boomers will retire much later 65+ householders have escaped the recession 75+ householders are a brand new market
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Thank you! Brad Edmondson www.bradedmondson.com brade@lightlink.com
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Summary
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