The upper middle-aged crowd in their 50s and 60s are figuring out this online shopping thing, and in the process, are recording massive boosts in spending on the internet. (Image: Korea Bizwire)
SEOUL, Jan. 10 (Korea Bizwire) – The upper middle-aged crowd in their 50s and 60s are figuring out this online shopping thing, and in the process, are recording massive boosts in spending on the internet.
According to the results of an analysis of shopping patterns exhibited by clientele aged 50 and above, e-commerce website Wemakeprice revealed spending volume per shopper increased by 78 percent from 2015 to 2017.
As a point of comparison, Wemakeprice also disclosed that the average customer’s expenditures, drawn from its entire userbase, grew by 42 percent over the same period.
Total spending by the 50s and above group surged last year, jumping 65.5 percent compared to the year prior.
Wemakeprice stated that the focus group in its analysis was last year responsible for 6.8 percent of all revenues, up from 4.5 percent in 2015.
The increased proclivity to go online is attributed to a greater use of mobile devices; 89 percent of senior-aged customers were found to enjoy online shopping through smartphones.
Higher spending growth relative to the general average may be explained by the pricy appliance and electronics-heavy top ten list of most purchased items by the “5060” generation, as it is sometimes referred to. (Image: Yonhap)
Higher spending growth relative to the general average may be explained by the pricy appliance and electronics-heavy top ten list of most purchased items by the “5060” generation.
TVs, refrigerators, washing machines, dehumidifiers and other expensive devices filled seven spots on the top ten most sold list in 2017.
In 2016, only TVs and dehumidifiers made an appearance on the same list, while in 2015, none of the seven numbered among the most sold.
Lina Jang (linajang@koreabizwire.com)
