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Baby Boomers Web Domination?

They changed the world in their youth, and will continue to do so as they get older. Businesses serving this market need to ramp up their digital channels as new research outlines the impact of a multi-generational web...

They changed the world in their youth, and will continue to do so as they get older. Businesses serving the 60+ market need to ramp up their digital channels as new research outlines the impact for brands of a multi-generational web...

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So how will the Baby Boomer [1] generation, the oldest of which will turn 60 in 2006, revolutionise the web? Is it a case of web domination for the 50+ set as younger users shift more and more to IM, moblogging and getting services through portable devices, or will it simply become a multi-generational web?

As the UK, European and US population continues to get older and more acquainted with the internet, the power of the older online consumer is set to grow considerably according to the UK’s largest website for the over-50s, 50Connect.

Presently internet usage among the over-65s is considerably lower than it is for the 45-60 age group. In the United States 65.9% of 50-64 year olds are online, compared to just 27.7% aged 65+. However, by 2008 73.7% of 50-64 year olds will be online along with 34.1% of the 65+ age group. [2]

Marketing re-set to web demographic shift

As this demographic shift to an older population continues, 50Connect believe the internet will become increasingly more important to marketers looking to target the over-50s, especially in the following areas:

• Pensions and Investments – Financial planning is continuing to grow online. [3]

• Property – Whether buying property abroad or downsizing in the UK as the Baby Boomers get older the market and demand online will continue to grow.

• Health Care – Residential care, nursing homes and health products are all likely to be marketed far more online in the future.

• Equity Release – More over-50s are likely to cash in on the values of their homes to pay for their retirement in the future.

50Connect believe the way Baby Boomers use the internet as a research vehicle to source information will bring about a dramatic change in how certain products, such as medical aids, are marketed to seniors.

18-24's wont remain the holy grail

"For many over-65s the desire to go online does not exist," commented Philip Cooper, 50Connect Managing Director. "In contrast, Baby Boomers see the internet as a part of everyday life, use it everyday and are comfortable buying online. There is nothing to suggest that once this age group turns 65+, they will no longer use the internet."

Whether planning a round the world trip, looking for cheaper car insurance or trading shares online, the instinct for many Baby Boomers is to read up on a host of different topics online.

Cooper drove the message home: "Marketers need to wake up to the demographic shift that is going to take place in the next decade and stop procrastinating about how to target the 18-24 year old age group. The real area marketers will need to target will be the over-50s, who will be more numerous and increasingly more web savvy in the years to come."

Notes:

[1] Baby Boomers are generally categorised as those born between 1946 and 1964 in the Post-war recovery period, which saw a surge in the number of births.
[2] According to the latest research from www.emarketer.com
[3] Research by 50Connect between November 2004 – January 2005 found that financial products are the most popular search terms on the website. Read the full press release here.

About 50Connect:
50Connect is the UK’s largest website for the over-50s with 947,000 unique monthly users.