The over 50s are at the forefront of emerging trends in online shopping and increased spending at Christmas, a new survey from Millenium has revealed.
Millennium polled more than 500 people online over the age of 50 across the UK and found that the internet has become their favourite method for shopping.
28% of respondents preferred to do their shopping online; the highest response for any category and superseding the traditional dominance of the high street or city centre, which garnered 23%.
Over half (58%) agreed that the internet took the hassle out of shopping and books were the most favourite online purchase, with 60% of all respondents stating that they would favour the internet over any other outlet when buying books.
Men are also more inclined to shop online, with 35% stating that it was their preferred shopping environment, contrasted with just 19% of women.
When questioned about Christmas shopping only 35% of men stating that they liked to buy presents for others, as opposed to over half (54%) of women.
Sarah Robson, research director, Millennium, said: “Our survey highlights some of the complexities and apparent contradictions of the mature market with regards their changing attitudes to Christmas.
“Whilst nearly all have concerns with how Christmas is becoming more commercialised, many still spend large amounts of money, perhaps too much for their means, in order to create what they perceive to be the ideal Christmas. They are also embracing the internet as a means to ease that Christmas shopping experience.
“Retailers should also take note that the high street has been superseded by the internet as the preferred shopping location for the mature market for those already online. Those interested in capitalising on the unprecedented wealth held in certain brackets of this demographic need to think carefully about how they approach those online.
“With 80% of all consumer wealth accounted for by the over 50s, this really is a golden opportunity for marketers, but a judicious approach must be taken to see this wealth translate into sales.”
Research released yesterday by comScore revealed that UK cyber shopping visits continued to gain momentum in the last week of November, up 34% versus the average weekly online shopping activity in the eight weeks prior to the start of the Christmas shopping season (see UK Online Shopping Sees Seasonal Growth).
Visits to online retail sites in the UK were led during November by the online retailer Amazon Sites, with a 9% share of total online retail category visits for the month. Apple Inc., which also has high-street stores in the UK, had a 6% share, while the Home Retail Group, owner of multi-channel retailers Argos and Homebase, had a 4% share.
A recent report from Forrester Research suggested that internet users in Europe will spend a projected €51 billion (US$71 billion) online during the Christmas season this year (see European Internet Users To Spend €51b Online At Christmas).
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