Many retailers are putting a strong focus on targeting the millennial generation of shoppers, currently the largest demographic and consumer group, accounting for $600 billion in annual spending.
Millennial shopping habits are thought to be different than those of older generations, as millennials were raised in a digital era and have high expectations for content delivered via online and mobile devices.
But retailers catering to an older demographic are struggling with shaping a strategy that reaches their consumer while adapting today’s technology-driven retail environment. How do customers in the 55+ age group, for example, want to be reached? Are they as mobile-savvy and app-dependent as those born after 1980?
Luckily, the digital consumption habits of the Baby Boomer demographic isn’t far from that of Millennials.
Mobile App Usage: Consumers age 55+ spend more than 21 hours across an average of 22 different apps per month.
Mobile Advertising: Only among consumers age 55+ do men and women perform similarly with 24.2% and 28.2% (respectively) saying they frequently tapped or swiped on ads within a mobile browser.
- In 2014, smartphone ownership for Boomers and Seniors increased by 45-50%, narrowing the gap in smartphone use by age group.
- 55% of consumers 55+ use three devices or more to shop online.
- 74% of consumers 55+ use a smartphone to research products prior to purchasing them online.
Mobile Tracking: 46% of consumers age 55+ are comfortable sharing information for an improved shopping experience.
Mobile Expectations: 27% of shoppers age 55+ expressed frustration when online product recommendations fail to update in real-time.