According to a March 2023 study from the Bank of America Institute about consumer spending, seniors born in 1964 or earlier were the only age cohort in the U.S. increasing their year-over-year spending, not millennials, Gen Xers, or any other younger group.
The reality is that seniors have spent a lifetime accumulating and saving compared to younger cohorts, so they should have more discretionary spending available.
Seniors spending more makes them an attractive target for these three companies.
This post originally appeared at 24/7 Wall St.