With all the services being launched on the Web today you'd think every segment has been saturated. But one segment has been grossly under-served; namely the aging population. For years the discussion has always centered around the fact that the older population did not use the web and avoided technology. Things are changing rapidly.
According to the TNS Compete and the Consumer Electronics Association joint study, Greying Gadgets: How Older Americans Shop for and Use Consumer Electronics, the age segments of 50-somethings, 60-somethings and 70+ use many technologies at or near comparable rates as younger age segments.
For example, eighty percent of 60-somethings used a cell phone in the past week, nearly equal the usage rates of 18-34 year olds. Additionally, 71 percent of 60-somethings and 52 percent of 70-somethings used a search engine in the past week, compared to 77 percent of 18-34 year olds.
The Older Segment is a Growing Market
Not only is the Older segment becoming more inclined to technology but it's also growing. Over the next 10 years, the Older Americans segment (50+) is projected to grow 23%. By 2020, this market segment should be nearing 119 million people and represent 35% of the total population, as provided by the US Census.
They are Also a Growing Market On the Web
Here are some basic stats from the Greying Gadgets report that tell the story:
- 78% of 50-54 year olds are online
- 45% of 70-75 year olds are online
- 67% of 70-somethings use a cell phone on a weekly basis
- Older Americans are 27% more likely to visit travel websites than the average internet user, and 98% more likely to visit health sites
- 77% of 50-somethings, 71% percent of 60-somethings and 52% of 70-somethings report having used a search engine in the past week
- 20% of 50-somethings have used a social networking site in the past week
- 24% of those 70+ have watched an online video in the past week
Simplicity Sells...You May Need a Modified Offering
As might be expected, sixty percent of consumers aged 50 and older indicated that a product having too many features was a main reason for being frustrated with technology, compared to 39 percent of consumers aged 18-49. So, if you're creating a solution for this segment you'll need to keep this in mind.
So, if you're looking for that killer audience...you might just want to think Older;)
Other interesting articles
The Older Audience Is Looking Better Than Ever, New York Times, 4/19/2009
