The Joint Center for Housing Studies of Harvard University released an eye-opening report. This report revealed that by 2025, approximately 10 percent of the people in every state in the U.S. will be above age 65.
Baby boomers are those who were born from 1946 to 1964. Most of them purchased large homes. They are now thinking of selling them. Because of their empty nests, they are now looking for smaller homes. This situation affects the market for top quality housing.
General Attitude of Baby Boomers
Most baby boomers are proud because they are economic savvy. Some studies show they are the wealthiest among all generations in history. They are a product of the post-war period.
Their attitude towards the internet is different from other generations. They don’t stay too long on a web page that loads slow. These people don’t click on online advertisements but will only do so if it is required. They are also very cautious when somebody entices them or offers them anything. But when they like a website, they will be very loyal to it. Other generations are not the same way.
How Baby Boomers Use the Internet
It may appear that baby boomers do not use the internet as much as the other generations. This is not true. It is the way they use the internet. In fact, statistics in 2018 showed that about 87 percent of baby boomers used the internet. The same statistics show that they use the internet only 10 percent below the younger set.
Forbes even estimates that this age group could be spending more than an hour a day on the internet. But they do not use social media as the younger age groups. They don’t agree with the statement that if you have many followers, you are popular. But this does not mean that all baby boomers dislike social media. There are some who are avid users of these social networks.
Baby boomers also don’t watch as much videos as their younger counterparts. They are not amazed by viral videos. Members of this age group are not fond of sending instant messages. Instead, they send emails and read online news. They do online banking, read political views online, and check online weather updates.
The Internet Economy Assumptions of Baby Boomers
Baby boomers have several internet assumptions that a marketer should know. Marketers need to know these assumptions. They will be able to market their real estate property or any kind of product to baby boomers by knowing them. Here are some of their assumptions.
1. It’s difficult to use the internet. Baby boomers need to know that many of their kind are now using the internet for business purposes. The technology is becoming friendlier every day.
2. Internet technology is hard to understand. They assume that they can’t use it to buy or sell their properties. Internet programs and apps are now very easy to use. They are now more intuitive. Baby boomers don’t need to be tech savvy to use them.
3. Baby boomers think that they are now fading in the picture. The fact is when 2025 rolls in, this age group will take over two thirds of online retail.
As a person grows older, he may suffer visibility problems. This should be a cue to web developers. They should design web pages that are easy for baby boomers to read. This should help them to be more active in online economic activities.
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