The Power of One
More than 89 million unmarried adults in the U.S. are single and loving it. Most, according to experts, are not spending every minute looking for a mate, but enjoying life in the now. Census figures reveal that for the first time in history, more than half of women are single, says Thomas F. Coleman, director of Unmarried America, an informational resource for unmarried people. "You hear the word single and you think partygoers," says Coleman. "Most single people have a lot more on their minds than that."
Singles are thinking about work, family, home, leisure time, retirement--everything married folks do. Coleman cites market opportunities for homebuilders to cater to single home-buyers. Home improvement products could be a niche as well. Financial services and insurance products are also important to singles, notes Jennifer Ganshirt, senior vice president and director of strategic planning for Frank About Women, a marketing firm specializing in female consumers. "Older single women in particular have the means, so give them the opportunity to invest in luxury-[type] purchases," says Ganshirt. Industries such as travel and food hold other possible niches.Singles are also into anything that can make their lives easier, says Peg Samuel, founder of Social Diva, a New York City-based event marketing company. Samuel, 36, reports on the hottest trends for single women in Atlanta, Miami and New York City via her website, www.socialdiva.com, building her business to $550,000 in annual revenue. "I'm great at finding what the demographic likes because I am the demographic," says Samuel. "The challenge with so many [opportunities] is making sure you're catching them all."