Demographic buyback

As the share of older people in populations across many countries increases, consumer spending patterns are likely to change too. At the highest level, older consumers spend less, with the average 45-54 year old spending USD 52,000 per year in the US compared to USD 38,000 per year for consumer over 65 years old. This data is about one-person consumer units, which filters out the effect children have on spending. Consumer spending across all major categories decreases with the exception of healthcare where spending increases rapidly with age. Outside healthcare, only household operations spending increases with age i.e., help in housekeeping.

Source: US Bureau of Labor Statistics, 2024.