TARGET MARKET ANALYSIS
The primary target market for the Exercise Stroller is comprised of the parents, grandparents and families of the 4.1 million infants that are born in the U.S. each year. According to the U.S. (a figure estimated by the U.S. Centers for Disease Control and Prevention) At this rate, the number of children recorded in our country’s history is even larger than during the height of the post-World War II baby boom. It has been speculated that U.S. is heading for the second baby boom. The U.S. Economic Census predicts that the number of women in their 20s will increase by 11 percent in the next 10 years, in addition, projects 4.2 million births per year in the U.S. by 2010 and 4.4 million by 2015. Women in the U.S. are having more children than at any age in almost 30 years, according to the latest birth statistics. Between 1980 and 2005, it is estimated that 99 million babies were born worldwide. A secondary market would include the parents of the 20.7 million children in the U.S. that are under the age of five.
(Population Division of the U.S. Census Bureau, May 1 2008.)
Approximately 1.7 million of the 4.1 million births were to first time parents who spend an average of $8000 on their child during the first year. Families, particularly women, are spending more on each child. Many parents are starting their families later in life, which generally means more disposable income that can be spent on their children.
Sadly, as the divorce rate grows, there are an increasing number of children who are members of two or more families. This means that there are now two households buying items such as infant strollers for a single child.
As people live longer they are playing more active role in the lives of their children. Currently, there are more than 60 million grandparents in the U.S. Estimates by the U.S. Census Bureau show the grandparent growing to almost 117 million by the year 2010, due in part to the aging Boomer population. Grandparents care for more than 13 million children during the day and more than 2.4 million children are in households headed by a grandparent. With the new generation of grandparents not experiencing the Great Depression, they spend more on themselves and on their grandchildren.
As the research shows about 40% strollers are purchased as gifts.