IS THE INTERNET A WASTE OF TIME FOR CONSUMERS OVER 50?
The Internet is a great and growing opportunity for those marketing to this wiser demographic. In 2005, there were an estimated 50.4 million people aged 50 to 64 in the United States. eMarketer estimates 33.2 million people from this group are currently online. The internet is not a new thing for those 50-64. They use it (or have used it) at work and they use it at home. In a recent Kaiser Family Foundation study, 64% of people aged 50-64 indicated they had internet access at home.
Further, a new BURST! Media study found that three in five adults aged 55 and older say they used the internet more today than a year ago. This is supported by recent comScore Media Metrix research indicating the number of adults aged 55 or older online grew by 20% to reach over 27 million in 2005.
The numbers don’t lie. 71% of those 50-64 have bought a product online, 78% research a hobby or interest, and 57% admit to going online for no particular reason. The internet is alive and well with the over 50 crowd. And with data indicating 68% of consumers 50-64 will be online by the end of 2006, marketers had better take notice. Not to even mention the spending power of this demographic!
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