target market focus || empty nesters
DESCRIPTION
Short description of target market with 3 photos.TRANSCRIPT
All Rights Reserved. Adam Greenfader 2013
TARGET MARKET FOCUS Empty Nesters for housing
Adam Greenfader
All Rights Reserved. Adam Greenfader 2013
Target Market: Empty Nesters Since the Census’ first measured household size in 1790, American household size has dropped almost continuously, from 5.8 people to 2.6 in 2000. The growth in households is outpacing the growth in population. Empty-Nesters The 2000 Census found that nonfamily households comprise 31.9% of all households, a higher percentage than married couples with children at home (29.5%). The reality is that today there are more people living alone or with one child/spouse/partner. The 1950’s nuclear family: husband, wife, two children, cat, and dog, is gone. This is particularly true for the massive wave of baby boomers who are now completing their child bearing years. Families that once demanded a single-family home with large lots (600m2+) in quiet suburban locations are now finding both the home and location to be unsuited to their new stage of life. In the United States, empty-nesters have fueled much of downtown population growth over the past decade. It is very probable, that like the mainland, empty-nesters will be the main target market for urban living.
All Rights Reserved. Adam Greenfader 2013
Hot Buttons Empty nesters want to sell their large houses and move into “something more manageable”. They seek comfort and ease of maintenance. They do not want to cut the grass, clean the pool, or spend an inordinate amount of effort cleaning. They want free time to travel and to just be… Empty Nesters, however, do not want to sacrifice luxury. They want to enjoy the finer things of life: quality kitchens, floors, windows, appliances, etc. They seek space with high ceilings, large master bedrooms, plenty of closet space, large bathrooms (shower & Jacuzzi) and home office.
Purchasing Characteristics Empty nesters will usually make large down payments; this can range from 20 -75% of the home price. They do not want large monthly mortgages. They are considering income reductions in the coming years. They will be covered with hazard, furniture, and life insurance.