Continuing from my previous article on the elderly segment and their shopping habits, this article is more on their online preferences. These insights shed light on the product categories purchased and preferred payment methods, offering valuable guidance to retailers targeting this market.
Product Categories Purchased:
Clothing and Accessories: Among the total respondents, 39% of the elderly segment showed a keen interest in purchasing clothing and accessories online. This category appealed to all age groups, with 43% of those aged 55-60 engaging in online purchases. This is also inline with other studies that showed fashion is number 1 category shopped online.
Electronics: 12% of the elderly segment preferred purchasing electronics online. With 55-65 y.o. demonstrated the highest interest.
Medicines and Vitamins: 10% of the respondents opted for purchasing medicines and vitamins online. This category saw higher engagement among those aged 61-70.
Home Furnishings and Accessories: 9% of the elderly segment explored online platforms for home furnishings and accessories, with individuals aged 66-70 displaying the highest interest.
Preferred Payment Methods:
Cash on Delivery (COD): A staggering 77% preferred cash on delivery. This is reflecting their trust more in traditional payment methods than modern payment options.
Bank Transfers: only 16% favored bank transfers; no other digital payments mentioned.
Pay Later: 5% indicated a preference for pay-later options
These insights hold practical implications for businesses operating in the online retail sector, particularly those catering to the elderly segment:
E-commerce Platforms: Optimize platforms for favored categories. Ensure clear product descriptions and offer user-friendly interfaces to facilitate their online shopping experience.
Customer Service: Recognize the preference for COD payment method. Maintain a customer support team trained to deal with this specific segment
Personalized Recommendations: understand them better on their preferences, leverage data analytics to offer tailored product suggestions and promotional offers.
As the elderly segment embraces online shopping, there is an opportunity for businesses to tap into this market. By understanding their preferences, offering tailored experiences, and providing secure payment options, retailers can establish themselves as trusted destinations for the elderly's online shopping needs.
Iwan Murty
https://bit.ly/3JPPV5A to check the post in my LinkedIn
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