Silver Surfers: How to Ride the Wave of Senior Online Shopping
At 109 million strong, seniors are one-third of the total U.S. population and control 70% of the nation’s disposable income.
Smart brands have seen the potential of this influential group of consumers and are already pursuing their $3.2 trillion in spending power:
- T-Mobile launched a full-on discount for customers 55+
- Humana promoted “Senior Skip Day” encouraging seniors to get outdoors by taking advantage of free entry to national parks.
You’d be wise to follow suit, but you may be reluctant to market to seniors online because you think they’re not digitally savvy. Nothing could be further from the truth.
Previously in this blog series we’ve looked at how you can turn silver into gold if you just follow the money that seniors are spending. Now we’ll dive a little deeper into the digital habits of today’s seniors and dispel any myths about their digital naiveté.
Seniors Have the Hardware
Baby Boomers bought the first personal computers back in the 1980s and they haven’t stopped since. When it comes to getting what they need to participate in the digital world, seniors are locked and loaded.
And just as easily as they entered the digital world, they’ve enthusiastically embraced the web. Seniors have the means to get online, and they do.
Seniors Are Silver Surfers
The stereotype that seniors are intimidated by the internet is a myth that’s easily debunked when you see how much they use it. Eighty-three percent of seniors are online and they’re not just using it casually.
Seniors Are Engaging the World Through Social Media
Seniors who find themselves separated from family, childhood friends and high school buddies have embraced social media as a way to re-connect.
Seniors Shop Online. A lot.
Seniors aren’t just going online to post family photos. After news and weather, they’re second favorite online activity is shopping. One-third of all online purchases are made by people over 50, and they spend nearly $7 billion online each year! And when it comes to online shopping, boomers spend more per transaction ($203) than millennials ($173) and Gen Xers ($190).
Seniors are Your Ideal Prospect Because They’re Purpose-Driven Internet Users
While millennials are digital natives who often take technology for granted, seniors are more like digital immigrants who have embraced the online landscape and appreciate how useful it can be as a tool for getting things done. This tendency to log on with a specific, task-oriented goal in mind, means seniors are:
- Looking for a solution.
- Open to advertising.
- Receptive to your message.
- Ready to act.
How Can You Leverage Their Digital Engagement?
One of the best ways to reach seniors is through gated offers – targeted discounts or offers available to eligible groups, such as seniors, students, teachers or the military.
Gated offers are wildly popular. Ninety-four percent of Americans who completed our consumer survey said they would take advantage of an exclusive offer, and seniors are no exception. In fact, people in the 55+ age group are particularly motivated by gated offers that recognize they belong to a special group.
Use SheerID’s Digital Verification Platform to Ensure Your Senior Offer Succeeds
SheerID’s Digital Verification Platform keeps your gated offers exclusive and protects your margins by ensuring seniors are the only shoppers who can take advantage of your discount. SheerID’s age verification covers the entire US population over 50 and has an adjustable age range that allows you to target sub-groups like baby boomers or older retirees.
Gated offers are not only a great way to prevent discount abuse (which can be as high as 35% without adequate digital verification), they’re also a smart marketing strategy. Providing an exclusive offer to a group like seniors is one of the best ways to acquire new customers and keep them coming back.
Ready to Tap into the Wealth of the Senior Segment?
Learn more about how SheerID’s age verification can help you deliver compelling offers with ROAS as high as 18:1.
For more information on how to leverage the power of gated offers to tap into the senior market, read the following blog posts:
- The Digital Landscape: Seniors & Baby Boomers
- Millennials stand out for their technology use, but older generations also embrace digital life
- Tech Update: Mobile & Social Media Usage, by Generation
- Tech Adoption Climbs Among Older Adults
- The Surprising Facts About Who Shops Online and on Mobile
- How Many People Shop Online
- A Guide to Consumer Shopping Trends 2017
- Percentage of U.S. population with a social media profile from 2008 to 2018
- The Truth About Online Consumers