£14.5 billion spent on online shopping – yet the over 55’s are still being ignored

New studies suggest that the over 55’s are the fastest growing demographic, spending £14.5 billion last year online shopping.

A new report has revealed that the over 55’s are the fastest growing market for online shopping.

Recent research carried out by Greenlight shows that shoppers aged 55 or over contribute £14.5 billion, yearly, to online spending. By 2025 that same age group are expected to make up two⁠-⁠thirds of all online retail activity.

In spite of 76 per cent of over 55’s making at least one purchase online every month, only 22 per cent of online retailers say that they deliberately consider selling to this market.

Yet, within a market where most people are now retired, there lies an audience with a higher level of disposable income than any other. It has been said that the over 55’s relish the opportunity to have their purchases delivered to their door whilst also having more time to compare products and prices, and previous customers reviews.

Online review site, Trustpilot, is continually increasing in size with 500,000 new reviews posted each month and over 10,000 customer signing up for an account daily, the site is finding users over 55 are becoming increasingly common.

The Greenlight research revealed 90 per cent of over 55’s use online services for research and purchases, with two thirds choosing a laptop as their preferred method for browsing the web.

The key reasons older shoppers are reported to welcome online shopping is because of the flexibility, ease of delivery and the ability to compare prices quickly. Do you agree?

Age Partnership believe that people who are at or approaching retirement deserve to get the best out of life and have tailored a range of financial solutions specifically for the over 55s. To find out more about their services visit their homepage or contact the customer services team on 08080 555 222 .