the corporate guide to the care economy

An exploration of the immense opportunity for a range of industries to better meet the unique needs of caregivers. Each industry-specific chapter examines a set of innovative concepts backed by research and user insights to demonstrate market demand and revenue potential for the care consumer.

The $6 trillion care opportunity

The care consumer demographic, made up of 130M caregivers, wields control over a staggering $6 trillion of annual household income. This is a hugely significant amount of spend and influence—more than many commonly-known demographic groups, such as urbanites and millennials.

The business CASE for care

Substantial revenue opportunities exist in catering to the care consumer - a big and expanding demographic. First there's a vast opportunity to develop products and services that meet caregivers' unique needs. There's also much to be gained in building care-centric brands that will attract new customers and deepen relationships with existing ones. Dive into the following industry chapters to see how care specific offers lead to opportunity  - both in a larger share of wallet and the ability to maximize lifetime value.

the care consumer

Our latest consumer research conducted in June 2023 reveals a notable increase in individuals identifying as caregivers, with 58% of survey participants aligning themselves with this role. Moreover, the perception of a caregiver has undergone a transformation. It’s time to evolve our traditional stereotypes of caregivers. The emerging picture of a caregiver now encompasses younger (<45 years old), urban-dwelling, and male-identifying individuals, who exhibit a greater inclination to seek and invest in care products and services. Our previous surveys have provided comprehensive insights into the male care consumer and the emerging category known as the Care Cusp within the care consumer domain.

The care consumer is primed and eager for solutions that acknowledge their caregiving realities. Explore how to reach this demographic in more depth in our industry specific chapters.

research approach

In June of 2023, The Holding Co. and McKinsey & Co. conducted an extensive 5,000+ consumer insights survey to understand the behaviors of today’s caregivers across a range of demographics, care types, purchasing power, and spending habits. This survey is representative of the U.S. population and the highlights of the survey are shared in the current set of chapters. More details about the survey can be found here.