Caring for our loved ones and being cared for is one of the most foundational human experiences that we have, whether we are caring for our children, extended family members, a loved one going through respite care or supporting an aging adult or a community member. This demographic represents a significant part of our economy, spending $648B annually on care, and this is only projected to grow.
In May of 2022, The Holding Co. and McKinsey & Co. conducted an extensive consumer insights survey to understand the behaviors of today’s caregivers across a range of demographics, care types, purchasing power, and spending habits. What follows is additional detail on the care categories, survey methodology and content.
1.1
New parent tech (e.g. apps to build community among new parents, or measure an infant’s health)
1.2
Clothing (baby clothing, child clothing, maternity & nursing clothing)
1.3
Food (for the child and/or baby, including formula)
1.4
Direct supervision of child in home (nanny, babysitter)
1.5
Direct supervision of child out of home (private pre-K, summer camp, enrichment activities, after-school care)
1.6
Products for baby or child (crib, bottle, blankets, diapers, wipes)
1.7
Products for parent (pump, baby monitor, car seat)
1.8
Entertainment & learning products for child (toys, books, tablets, movies, games)
2.1
Daily essential activities for older adults/people with disabilities (meals, personal care, home repair, delivery, transportation)
2.2
Care coordination for older adults/people with disabilities (planning, professional engagement, recovery / support services)
2.3
Professional and unpaid caregiver quality of life for older adults/people with disabilities (respite and backup care, social support, health and wellness)
2.4
Health and safety awareness for older adults/people with disabilities (health and vital alerts, personal safety, telehealth, medication management)
2.5
Transition support for older adults/people with disabilities (home retrofit services, long term care insurance planning)
2.6
Social wellbeing for older adults/people with disabilities (digital inclusion such as wifi installation and access; life enrichment & empowerment activities such as gardening, crafting, music/dance, and cooking, etc.; life companions; community networking)
2.7
In-home care provision for older adults with disabilities (home healthcare & home nursing care, home therapy, durable medical equipment)
3.1
Hospice/palliative care for older adults/people with disabilities (hospital or home services)
3.2
Retirement centers for older adults/people with disabilities (communities, assisted living)
3.3
Long-term care insurance for older adults/people with disabilities (group, individual, credit policies)
4.1
Cleaning services
4.2
Cleaning supplies such as bleach & polishes, home insecticides, multi-purpose cleaners, drain cleaner, vacuum cleaner, wipes
4.3
Laundry or Laundromat services
4.4
Fabric softeners, detergents
4.5
Cooking services such as meal-prep services, pre-made food subscription and delivery
4.6
Groceries
4.7
Household appliances such as oven/microwave, stove, Dishwasher, washing machines, small cooking appliances
4.8
Lawn care & snow removal
4.9
Home repair & maintenance (painting, plumbing, etc.)