Professor Cabrini Pak shares insights from her research on how to best market to the Sandwich Generation. Her paper, Marketing to the sandwich generation: meeting the needs of all family members, was published in the Journal of Business Strategy.
Understanding the Sandwich Generation
The sandwich generation (SG) comprises individuals, typically between their 30s and 60s, who simultaneously care for both aging parents and their own children. This demographic faces a complex web of responsibilities, including financial support, healthcare management, transportation, and social coordination. Despite their significant presence—comprising about 25% of U.S. adults—marketing strategies have largely overlooked their intergenerational needs.
The Challenges Facing SG Consumers
SG members experience mounting pressures due to increased life expectancy, high living costs, and the preference of older adults to age in place rather than relocate. Many SG members also juggle full-time employment while managing these responsibilities, leading to financial strain, time constraints, and wellness concerns. Their needs extend beyond individual consumption, making collective family-oriented solutions crucial.
Key Needs and Enablers for SG Consumers
To effectively engage SG consumers, businesses must focus on four key needs: finances, health, wellness, and social support. Enablers that can assist in addressing these needs include human resource (HR) benefits, optimized resource allocation, time management solutions, and technology.
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Finances: Many SG members struggle to financially support both their children and aging parents. Businesses can aid them through tailored financial planning services, pooled family investment options, and easier navigation of financial aid programs. Companies like Fidelity and Merrill have taken steps in this direction but need improved accessibility for consumers.
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Health: Managing chronic illnesses and medical needs of aging parents while ensuring the well-being of children places a heavy burden on SG members. Innovations such as telehealth services, integrated healthcare platforms, and employer-supported medical leave can alleviate stress and improve care coordination.
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Wellness: Balancing work and family responsibilities affects mental and physical health. Companies can offer holistic wellness solutions, such as flexible work arrangements, wellness tracking apps, and caregiver support programs, to ease the burden on SG members.
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Social Support: Time-strapped SG members benefit from technology that enhances coordination, such as shared calendar apps and task management tools. Platforms like OurHome and Google Calendar already facilitate family organization, but further integration with eldercare and childcare services would enhance their effectiveness.
Age-Friendly Solutions for SG Members and Their Parents
As SG members age, they will continue seeking age-friendly products and services. Businesses can cater to this growing demographic by focusing on four main areas:
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Housing: Senior-friendly home designs with accessibility features, single-level living options, and affordable independent living solutions can support both SG members and their aging parents.
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Transportation: Improved public transit accessibility, senior-friendly ride services, and well-designed infrastructure can help SG members manage their caregiving duties more efficiently.
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Technology Navigation: Smart devices and apps tailored for aging adults and caregivers can enhance connectivity, simplify daily tasks, and provide better healthcare coordination.
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Healthcare & Wellness: Integrated digital health platforms can facilitate seamless communication between caregivers, patients, and healthcare providers, reducing time and resource inefficiencies.
The Business Opportunity
Recognizing and addressing the unique challenges of the sandwich generation presents a substantial market opportunity. Businesses that adapt their products and services to meet SG consumers' multifaceted needs—whether through financial solutions, healthcare innovations, or time-saving technologies—will be well-positioned to create long-term value for this critical yet often overlooked consumer segment.