Consumer Trends (Cont’d from Page 5)
technology, Digital Seniors are empowered to make purchases and use services through this channel. Businesses have an opportunity to tailor their dig- ital experience to target and meet the needs of this expanded online audience. The global population aged 60+ will grow 65 per- cent from 2021 to 2040, reaching more than two bil- lion people. This relatively wealthy cohort is gain- ing more experience and confidence using online services and choosing to adopt more tech solutions that assist with their daily lives. Alongside browsing and shopping online, Digital Seniors embrace virtual solutions for socializing, health screenings, finances and learning. TikTok is one platform these consumers use, as a result of their digitally native grandchildren influencing and empowering them to be on social media. In fact, more than 60 percent of consumers aged 60+ visited a social networking website at least once a week, whilst 21 percent took part in video gaming weekly. People aged 60+ are the predominant cohort of the top income band (USD250,000), accounting for nearly one-quarter and making older consumers an important target for businesses. Optimizing mobile apps, social networks and websites for Digital Se-
BestBrightHalfHOUSE.qxp_Layout 1 9/12/18 4:26 PM Page 1 Digital Seniors Older consumers were forced online as the world shut down. Now, familiar and comfortable with footprint and recycling habits on their phones. Millennials and Generation Z, especially, feel they can make a difference through their choices. This largest spending cohort of the future will use tools to ensure minimal climate impact. The more offer- ings that align with expectations of Climate Chang- ers, the more brands will see their products and services resonate. tainable products mainstream. In 2021, 43 percent of professionals reported that the lack of consum- er willingness to pay more for these products is a significant barrier, hindering business sustainabil- ity initiatives. Costs incurred from sustainable in- novation, product redesign, supply chain fluctua- tions and certifications result in price increases that might become a challenge. Digital innovation is reshaping how retailers, man- ufacturers and consumers transition to a new era of environmental transparency. Tech tools, such as digital product labeling and mobile tracking apps, help consumers trace ethical claims, their carbon
(Cont’d on Page 9)
The Best And The Brightest Are Waiting To Hear From YOU
An ad in Flexo Market News is a direct sales meeting with thousands of Presidents, Owners, VPs and General Managers of flexo operations — the key people who make decisions on equipment purchases.
Greg Kishbaugh 317-306-1060 flexo@nvpublications.com Robyn Smith 910-553-4055 rsmith@nvpublications.com
Flexo Market News January 31, 2022 7
www.nvpublications.com
Made with FlippingBook Converter PDF to HTML5