The singles crowd. More than 79 million American adults. College students, workaholics, single mothers, widows. You name the title, and they’re lumped into that large group to which many agencies and companies are finding the most difficult to market their product or business. They make up more than 50 percent of the population, and hold enough buying power to buy several small countries.
The singles market is bigger than ever before, and it continues to grow. Why? Societal norms are changing. It’s no longer strange to be single in your 30’s. More people are making the choice to stay single longer, and waiting to get married and start families. Careers are becoming more important, time is becoming less available, and divorce is on the rise.
So why has this group been so difficult to market to? Diversity, in a nutshell. The singles market is comprised of every ethnicity, socioeconomic status, race, religion and gender. How do you market your product or service to a group of individuals when you can’t seem to find a niche to market to within the group?
Choice. The one common value that most single consumers find in products and services is the ability to choose – what product they want, which service they’d like to use, what business to work with. The single life leaves these individuals with more options in their daily choices – one of the important factors in products or services they choose to buy or use.
By providing single consumers with choice, the market expands. Single mothers can choose which style of diapers works best for their newborn. College students can try the summer edition of their favorite beer. Single professionals can invest in new front-loading washers and dryers in their favorite color. And regardless of the individual, options seem to open the door to expanding consumption for your business within the single market.