2018-2019 Miami Retail Major Markets Report

The Power of the Gray Dollar Often overlooked but vitally important consumers for Miami are seniors over the age of 60, who make up over 20% of the total population. Contrary to perception, the spending power of seniors often exceeds those of younger generations. Their focus is more on basic services and health care-related costs and less on fashion or the latest electronic gadgets. Seniors are also the largest generational bloc of new homebuyers. This supports spending in the home improvement, appliances and ancillary services. In a market like Miami, spending by seniors is another piece of the puzzle that retailers must account for to succeed.

SENIORS OVER 60 makeup MORE THAN 20% of the TOTAL POPULATION

SENIORS are also the LARGEST GENERATIONAL BLOC of NEWHOMEBUYERS

2018-2019 EDITION 27