Marketing to Seniors
WIRED ELDERS - APRIL 2004
The percentage of older adults who go online has jumped by 47% between 2000 and 2004, according to a new report from Pew Internet and American Life.
In a February 2004 survey, 22% of Americans 65 or older--about 8 million adults--reported having access to the Internet, up from 15% in 2000, the Pew study found.
By contrast, 58% of Americans age 50-64, 75% of 30-49 year-olds, and 77% of 18-29 year-olds currently go online.
Moreover, although the Pew survey in 2000 showed that about 60% of wired seniors were men and about 40% were women, the February 2004 study found that the gender gap had closed. The ratio among wired seniors has shifted to 50% men and 50% women.
In recent New York Times article profiling some of the "'net's late bloomers (www.nytimes.com/2004/03/25/technology/circuits/25elde.html).
The report compares behaviors in 2003 versus 2000 which
includes the following:
66% of "wired seniors" had looked for health or medical information online at some point in their online life by the end of 2003--
13-point jump since 2000, and a growth rate of 25%.
Online seniors are much more likely than other Internet users to have logged on to get information about Medicare and Medicaid;
66% had done product research online--a growth rate of 38%;
47% had bought something on the Internet--a growth rate of 31%;
41% had made travel reservations--a growth rate of 64%;
60% had visited government Web sites--a growth rate of 50%.;
26% had looked for religious and spiritual information--a growth rate of 136%;
20% had done banking on the Internet--a growth rate of 150%.
References: Researches & reports from Pew Internet and American Life.
A VITAL AUDIENCE
JULY 2003 — According to an online survey of 1000 visitors to www.thirdage.com, online consumers over 50 are eager to learn about new products and services and are tolerant, and often interested in online advertising. In fact, people over 50 "spread the word" about what they find online.
According to the data, 24% of consumers aged 50 and over use the Internet between 11-20 hours per week, and almost half (43%) say they use it between 11 and 30 hours per week. 90% access the Internet at home. Also, most online consumers over 50 say they forward information found on the Internet to others. A vast majority (83%) forward information found on the Internet to their friends, to their children (58%) and siblings (33%). They also search for information for others: 65% for friends, 48% for their children.
In addition, the online population of Internet users over 50 reached 31.3 million Americans. In just four years time, this number of Internet users over 50 is expected to reach 51.7 million Americans, according to Jupiter Communications. And according to Nielsen/Net Ratings, 57% of consumers over 50 connect to the Internet via broadband, compared with only 13% of the overall U.S. population.
2002 SENIOR MARKET FACTS
MATURE MARKET FACTS
A VITAL AUDIENCE
According to the U.S. Census Bureau, adults 50+ represent 76 million people, 28% of the total U.S. population and 37% of the population 18+. Demographic trends associated with the aging of the baby boomer population, plus gains in longevity, will grow the 50+ market to over 106 million by 2015 when they will account for 45% of the adult population. Seniors are, and will become even more, a market, social and political force to be reckoned with and hence a very attractive community to a range of advertisers and marketing sponsors.
Freed from the constraints of raising a family and with more time of their own, mature consumers seek products, services, and activities that compliment their desire to live life to the fullest. The mature market has over $1.6 trillion in spending power and a net worth that's nearly twice the U.S. average. The facts speak for themselves -- the mature market represents a tremendous opportunity across all categories.
UNITED STATES MATURE MARKET
- Larger than African-American and Hispanic market segments combined.
- The most affluent of any age segment
- Account for 60% of all healthcare spending
- Purchase 74% of all prescription drugs
- Buy 51% of all over-the-counter drugs
- Acquire 41% of all new cars
- Purchase 25% of all toys
- Account for 80% of all luxury travel
- Spend $7 billion online annually
- Fastest growing segment on the Internet
- Spend more time online than teenagers
- Adults 50+ control a household net worth of $19 trillion.
- Own more than three-fourths of the nation's financial wealth
- Own 70% of all money market accounts and certificates of deposit assets
- Have an income per capita that is 26% higher than the national average
- Spend more than one trillion dollars on goods and services
- The largest 55+ population resides in California, New York, and Florida respectively
- 42% of museum visitors are 55+
- Spends more per capita on groceries, O-T-C products, travel and leisure than any other age group
- Travel ranks among the top leisure activities for men and women over 50
- Mature vacationers travel more frequently than any other age group and stay longer
- 55+ households are the fastest growing user segment to embrace computer technology
- 22 million adults 50+ are now online, representing 28% of the 50+ population.
— Source: www.onmagazine.com