The Rise of Older Internet Users
The British population is becoming more mature by the year, with over-50s now constituting a quarter of all adults in the UK. Dale Lovell, content and PR manager at 50connect.co.uk, the UK’s largest website for the over-50s, explains the importance of marketing to this age group, and the benefits available to advertisers…
In 2002, one fifth of the UK’s online population was aged over 50, today, that figure is estimated to stand at 25% of the entire online population, approximately 6.25 million in total. As the demographic ‘bubble,’ commonly referred to as the Baby Boom generation (those born between 1945 and 1964), creeps towards pensionable age, the number of over-50s online is likely to continue to increase.
Currently, the number of older people regularly using the internet to send e-mails, book holidays, research their family tree and carry out an entire host of other activities, are already challenging traditional stereotypes of the typical internet user. They are also bringing about a change in attitude to the position of the older consumer in modern society.
Traditionally, the ‘grey market’ was seen primarily as the preserve of advertising campaigns for stairlifts, incontinence pads and similar products, but today, it is considerably different. There are a number of reasons why.
Firstly, the ‘boomers’ are considerably better off than the generation before them. Estimates suggest that the UK’s over-50s come from a group with £196 billion in collective spending power. They average 3-4 holidays a year, are the group most likely to buy a new car and are typically mortgage free with far more disposable income than those in the 18-34 age group. Interestingly, the average age of a new Harley Davidson owner is 59.
Secondly, boomers have a more youthful outlook than their parent’s generation. They were the original teenagers and the world’s first consumer generation. Their youthful outlook means that they embrace new technology, such as the internet and, more recently, iPods.
Online, one could argue that the demographics are even more favourable for the 50+ market. The internet requires a certain degree of technological know-how and, unless using a library computer, a certain amount of financial outlay too. These two factors act as a natural filter, known as the ‘technology hurdle’, which leave behind a high value group of mature online consumers who are web-savvy (recent research reveals that this age group are becoming increasingly confident buying online) and have money to spend.
As lifelong consumers, the trick when advertising to this age-group is to avoid being patronizing. Online or off, the over-50s will reject anything that is condescending. The American Express advert with the fifty year old removing his suit before jumping into a river is a good example of successful advertising to this age group.
Today’s mature web user is confident buying online and, more importantly, also has the money to spend. What’s more, their numbers are certain to become more numerous in the forthcoming years. Just think of the number of forty-year olds out there who regularly use the internet at work and imagine the potential of the online market in ten years time.
In the future, any online advertising campaign, which fails to at least partially target the over-50s, will only moderately succeed.
The obsession among advertisers about targeting the 18-34 year old age group needs to end, and more effort put into targeting the mature market. After all, who would you rather target – a debt ridden, cash strapped 24 year old, or a mortgage free 54 year old with a high disposable income?