As a business owner, you need to know your audience. That is the first step to achieving good sales. Today, let’s explore the singles market and the opportunities that exist in this target audience.

For one, this is a burgeoning market, and the numbers paint an interesting picture, with 37.9 million single households in 2022. This represents 29% of the total and it is up from just 13% of single households in 1960. So, we see growth is in fact occurring in this particular market.

Another factor to consider is it also varies by age. We see there are 41% of those 18 to 29 who are single, while only 23% aged 30 to 49 and 28% aged 50 to 64 are single. We also see here 36% of those more than the age of 65 are single.

Let’s consider the trends surrounding these numbers to get a better idea of why this is occurring. Research shows college educated career professionals—particularly women—like their lives and are in no hurry to change that. According to one survey, 38% of women under 30 believe marriage is old-fashioned and out of date; 25% of Millennials are projected to never marry.

The Impact on Business

Now that we have a better idea of the market conditions, let’s explore what this could potentially mean for our businesses.

Single decision maker: Perhaps the biggest impact here is households with one individual do not need to consult anyone else about a purchase. Potentially, these individuals have the opportunity to be more impulsive and splurge on things for themselves or even their family and friends.

Budget conscious: On the flip side, since their income is lower than a double-income household and since they might be more likely to spend on indulgent purchases for themselves, they are more likely to be on the hunt for discounts.

Sustainability minded: Often singles—and the young generations—value and care about the environment. This means sustainable sourcing and environmentally friendly packaging are often a priority.

Reaching this Market

Now that we understand the numbers and the trends, let’s look at how we might be able to reach this market.

Online presence: This market—like many—often looks online before making a buying decision. Ensure your web presence is on point. Consider how your business appears in peer reviews. Do some research about your company to see how others talk about it. Also, consider your social media presence. It will have a big impact on this segment of the market.

Consider customization: Today’s consumer wants to be spoken to on an individual basis. They want personalization and custom options. Consider this as you create content for your business and as you create a business strategy. The customer is always king.

Ask questions: Consider some key questions as you begin to dig deeper into this segment of the market. What matters to them? What is their mindset? Gather target audience insights in order to refine a message for your specific business campaigns.

Experiment and adjust: Try new and different ways to engage with singles clients. Perhaps this is validated through either a personal or employee trial. Or maybe you create a microsite or content to align with your brand. Try some new things out—and if it doesn’t work, adjust your strategy quickly.

Keep in mind, November 11, which is Singles Day globally, will often feature one-day-only discounts. Interestingly, online sales on that day are larger than Black Friday and Amazon’s Prime Day combined in China, generating $139 billion in sales from 527 million shoppers last year. Here in the United States, Singles Day is beginning to see some traction, but on a much smaller scale.

At the end of the day, we must consider this segment of the market and how we create products and services for it. We must also consider how we market to singles and reach them in new and different ways, as the market continues to evolve.