Retailers Should Focus More On Older Shoppers

A recent report from research agency Shoppercentric, published by the Retail Times has revealed that 50% of older shoppers believe that retailers do not find their age group to be important. Additionally, only 20% feel like valued customers to retailers as they have more money and time.

The following statistics can be rather valuable for retailers that might want to keep in mind that older shoppers have great purchasing power.

43% of people aged over 60 say they regularly go to shops only to look around, which is a lot more than those over 40 years, said Danielle Pinnington, managing director at Shoppercentric.

The report further found that older buyers are more purposive compared to the younger age groups. The former group is more likely to know what they want to purchase from a shop before they even get there, instead of relying on displays for ideas. This means that the older age groups prefer to make efficient buying decisions.

Contrary to popular belief, older people also surf the Internet. The research shows that 62% of people over 50 years old have Internet access at their house, while 39% of those aged over 60 own a smartphone. Moreover, 21% of people aged between 70 and 79 years are tablet owners and, believe it or not, 14% of people over 80 years also own tablets. What’s more interesting is that around 33% of shoppers over 60 years of age say they cannot imagine their lives without the Internet.