Making purchases by digital means – both mobile and desktop – have become standard operating procedure for most consumers. Even in age groups who lag behind in technology adoption, such as 65+ age groups, mobile use is high. Today, we’ll look at research on digital purchasing patterns among consumer groups and the expected growth that is to take place.
• This year it’s expected that 68% of millenials (age 18-34) will make a digital purchase. By 2017, that number will rise over 10% to 75%
• Nearly 70% of Gen X adults will make a digital purchase this year. It will be over three-quarters in the next 5 years
• The increase among baby boomers will be slower – buy still a respectable amount. Currently 60% of baby boomers make digital purchases. By 2017, it will increase to 61%
• When you look at baby boomers who are currently online the numbers are much higher. Over 75% of internet enabled baby boomers go online to make purchases. In five years that number will exceed 80%
What Does This Mean To You?
Some companies believe that because they do not target younger consumers, they don’t need a digital strategy. This couldn’t be further from the truth. Roughly six in 10 baby boomers are already buying things digitally. The ones who use the internet are even more active in making online purchases. As the population ages and become more dependent on others – digital purchasing could make them more robust shoppers. Digital tools allow them to shop from the comfort of their homes and not fight traffic and busy stores. It also allows them to research items and compare prices.
As digital adoption increases, it gives you many more avenues to target them. Also, because they may not be as digitally jaded, they could be more open to targeted offers. Older consumers look for reviews and ratings. Utilizing digital testimonials from baby boomers when targeting them will increase your chance at creating a loyal base. Baby Boomers are also becoming more social – in fact recent studies show that older internet users are the fastest growing segment on social media. Whether it’s to communicate with the grandkids or to connect with old friends on the other side of the country – social media use is growing with them. This is another targeting method to explore. For more information on digitally monetizing niche consumer groups, please contact: Al Fiala
Source: eMarketer; The Search Agency