Almost four in 10 grandparents (39%) provide some kind of support to help their grandchildren, according to Nielsen. They purchase their grandchildren clothing (23%), food and beverages (20%), and household/personal care products (16%). They also assist with education expenses (10%), daycare costs (8%), and medical care/doctor visits (5%).
Grandparents who see their grandchildren daily or several times per week are more likely to spend more on their grandchildren than those who don’t see their grandchildren as frequently.
Grandparents with numerous grandchildren are more frugal. Those with only one grandchild spend two times more than grandparents of multiple grandchildren. Those with more than 10 spend $79 less per year than non-grandparent households on grandchildren-related expenses. [Consumer Spending & Influence]
Source: Nielsen, Pete Blackshaw, EVP Digital Strategic Services, 1014 Vine St., Cincinnati, OH 45202; 513-618-6700; pete.blackshaw@buzzmetrics.com; www.nielsenbuzzmetrics.com.
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