The Baby Boomer Generation – An Untapped Market?

December 13, 2018

As prevalent users of technology, you could be excused for focusing product strategies singularly at millennials.  However, internet adoption among older generations is significant and still rising, which brings with it serious opportunity for smart home technology growth.¹

 

During our recent study* into adoption of smart home technology, we spoke to people over 65+ years to try and understand more about their attitudes towards technology and the kinds of smart home products they would find most appealing.

 

Attitudes towards tech...

 

A third of 65+ years (32%), say they prefer other people to prove a technology before buying it. However one in ten (10%) are more daring, claiming they tend to buy gadgets before most other people.

 

This perhaps unexplored openness to technology is supported by how appealing this age group say they find smart home technology, with 38% saying they find it appealing and 34% still unsure.

 

Clearly this presents brands with an opportunity – but what kind of smart home technology is going to persuade these consumers to pay?

 

 

What kinds of technology are they interested in?

 

The types of technology the 65+ years say they are generally interested in provide security and peace of mind:

 

The products they are less interested in perform more of a home assistant type of role:

 

Given that this cohort are more likely to own their own home and have a significantly higher disposable income, it seems sensible to renew a focus on this potentially high value segment.

 

To find out more about how to accelerate adoption of smart home technology and our recent research, please get in touch at +44 (0)1932 226 793.

 

 

*Source: Smart Homes Technology Online Survey August 2018, 1,019 UK respondents (nationally representative quotas were set on gender, region, age and social grade), August 2018

 

References

 

¹ Ofcom, 2018. Rise of the Social Seniors revealed. [ONLINE] www.ofcom.org.uk. Available at: https://www.ofcom.org.uk/about-ofcom/latest/features-and-news/rise-social-seniors [Accessed 13th December 2018].

 

 

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