Canada’s 45-plus population today is 15.6 million people. If this were a province, it would be the largest in Canada!
And because the population is so big, it translates into market domination in almost every category of spending.
Here are some of the key numbers:
- At 15.8 million people, the 45-plus population represents 56% of the adult population (18+) of Canada
- The 45-plus age segment is the only one that will increase as a percentage of the total Canadian adult population over the next 20 years. Both the 18-24 segment and the 25-44 segment will decrease as a percentage of the total.
- 3.8 million 45-plus consumers have 3 or more credit cards – more than all other age groups combined, and representing 65% of all those in this category
- 13.1 million 45-plus Canadians own their own home. This accounts for half of all homeowners.
- Think they’re slowing down on spending? 1.9 million spent $1,000 or more on furniture in the past 12 months – about half (47%) of all those who spent that much on furniture.
- Even more bought large household appliances in the past 12 months – 2.5 million, or 52% of all those in this category.
- 4.2 million 45-plus grocery shoppers spend $150 or more on food shopping every week, representing about half (44%) of all those who fall into this category.
- The 45-plus age group dominates the financial marketplace, accounting for 65% of all those who hold stocks, RRSPs and mutual funds, and over 75% of all those with total securities and savings of $500,000 or more
- No other age group travels as much or spend as much when they travel. 45-plus travelers represent the largest market for virtually every category:
- Largest market for travel within Canada
- Largest market for travel to the USA
- Largest market for travel to Mexico and the Caribbean
- Largest market for travel to Europe
- Largest market for cruises
- Largest market for exotic destinations
- 45-plus consumers account for 80% of all health care spending, and 70% of all OTC purchases
For marketers, the conclusion is clear: you can’t hit your numbers without marketing to the ZoomerMedia market.
To dig deeper – and to learn more about the important marketing communications services ZoomerMedia offers – click to go to the ZoomerU page.