With today’s dizzying rate of technological advance, it’s easy to let yourself believe that the “older” market aren’t keeping up.
Nothing could be further from the truth, and we can prove it.
Start by recognizing that three different age cohorts are represented in the Zoomer (45-plus) population:
Of these three groups, both Gen X and Boomers are totally comfortable with the new technologies. The Boomers were never technophobes; at every stage of their lives, they were grabbing all the new technology they could get their hands on. Gen X, as well, grew up in a world of fast-changing technology and have always been quick to adopt the latest. There may be a slightly slower rate of adoption among the very oldest age groups, but taken in total, the Zoomers represent the biggest users of technology and purchasers of new tech products.
This reality is quickly demonstrated, using Vividata Fall 2018 as our source.
This is reflected in their attitudes as well as their purchasing.
The idea that Zoomers are not keeping with technology is a complete myth. They see and understand what’s happening, they’re quick to purchase the needed hardware and they’re very aware of how to use the technology to their advantage. Marketers who don’t “get” this – and especially, those who are patronizing toward Zoomers (a common complaint from Zoomers themselves) – are forfeiting an enormous audience, and misusing a potent sales-generating channel.
Number of Zoomers who personally hold investments and savings of $500,000 or more. No other age group is close. In fact, nearly seven out of ten Canadians (69.2%) with investments and savings of $500,000 or more, are Zoomers. Follow the money. Source: Vividata Spring 2018.