Now and Then

Change can creep up on us. But sometimes it pays to take stock of where we stand compared to where we used to be.

Gifts & Decorative Accessories is looking back on our 90th anniversary to see how the magazine and the gift industry have changed in our Decades of Excellence feature. This month we examine 1957–1967.

But the gift business isn't all that changes with time: so do our customers. Here's a broader look at how the country itself has changed in the past 40 years. For one thing, there are a lot more Americans. We're older and better educated. And even if it sometimes doesn't feel like it, Americans — and women especially — are making more money.

Older and Richer?

Adults over 50 control $20 trillion in resources, more than 70 percent of disposable income and $1.6 trillion in spending power, according to The Mature Market in the U.S., a new report from Packaged Facts. This group, 68 million strong, spends $1 trillion on goods and services alone. While any demographic spanning four decades is necessarily diverse, fitness and wellness, travel and socializing are some of the common themes. While many are retirees, others are working still — or again — and want to live the good life without waiting. (For more on retirees in the workplace, see “Second Time Around,” page 28.)

And don't count technology out: Internet purchases account for $7 billion annually; 78 percent of households with adults aged 55–64 own a PC, and more than a quarter of Americans over 65 use the Internet with ease. (A number that rises to 80 percent of those in the top 30 percent income bracket.)

The percentage of customers in their golden years will only grow: by 2030, people age 65 and over are expected to number over 70 million. And the 85 and over age bracket is projected to surge from 4 million in 2000 to 20 million by 2050.