How have older demographics changed their online shopping behavior during the pandemic?

Seniors have dramatically increased their e-commerce adoption during the pandemic. Credit card data from Japan shows that shoppers in their 60s increased online purchases from 15% to 21% of total purchases, while those in their 70s jumped from 10% to 16.4%. This demographic shift is particularly significant for art sales because seniors typically have the highest disposable income to spend on art. Once people experience the convenience of online shopping—having items delivered to their home, avoiding crowds, saving time—they don’t give that convenience back even when physical retail options return. Time is valuable, and businesses that save people time are the most successful. This permanent behavioral shift in the demographic with the most purchasing power for art creates a tremendous opportunity for artists selling online.

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Asked by synthesized from presentation · Answered by Patrick Shanahan and Nick · art-marketing-podcast · 2020-11-13