Sunday, December 05, 2010

Who Wants Grandma's Money?

It's that time of year again when grandparents everywhere are shopping around to find the perfect gifts for their grandchildren.

There are 78 million of us baby boomers out here--many who probably have grandchildren AND money. We spend an average of $500 annually on our grandchildren and, collectively, the total amount spent by grandparents nationwide is in the billions.

According to The Grandparent Study 2002 Report from AARP, the top reasons grandparents spend money on their children are birthday gifts (97 percent), holiday gifts such as Christmas, Hanukah, or Kwanzaa (96 percent), because they enjoy buying things for grandchildren (93 percent) and to entertain or have fun with their grandchildren (90 percent).

Back in 2006, KB Toys attempted to capitalize on the booming grandparent market by offering a Grandparents Rewards Club. Anyone at least 50 years old could save 10 percent off their entire purchase at KB Toys every Tuesday, all year long just by singing up.

KB Toys has since gone out of business. Perhaps they just didn't know how to court us.

I wonder whose hit list we'll be on next this holiday season.

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