Wednesday, September 27, 2006

Forrester reports on some key trends...

  • Many devices span the generations. Differences in device adoption rates among Gen Yers, Gen Xers, and Younger Boomers are small. Take digital cameras, for example: 64% of Gen Y households own one, as do 57% of Younger Boomer households.
  • Connectivity is as big as ever. Broadband is on a steady rise: 44.6 million US homes connect via high speed today, compared with 33.5 million one year earlier.
  • The digital decade shows no signs of slowing down. DVRs, camera phones, and home networks caught on in 2005 faster than any other technology. By 2011, adoption of laptops, HDTVs, and camera phones among US households will more than double.

Gen Yers Spend More Time With The Net Age Does Matter For Technology And Media Habits
While technology adoption is up among all consumers, Gen Y and Gen X households lead the way in integrating technology into their lives.

  • Gen Yers take technology everywhere. Young adults are the most likely to put a premium on mobility, owning mobile phones, laptops, and MP3 players more often than their older counterparts. But the balance of consumers are following in their footsteps: 34% of Older Boomers and 22% of Seniors have cut the long-distance cord.
  • Seniors' media intake revolves around TV. Seniors consume one-third more hours of TV per week than Gen Yers do; Gen Yers devote more than three times as many hours to the Net per week as Seniors.

Does generation matter for your industry?
Yes. Here's how generational differences in technology adoption and habits affect vertical industries:

  • Marketing. Viral or word-of-mouth marketing is appealing across generations, but the Net is the place to reach Gen Yers and Gen Xers for product research. While almost 90% of Seniors do their decision-making research offline, nearly 40% of Gen Xers do research online and purchase offline.
  • Retail. Gen Xers are the sweet spot for online shopping. With their disposable income and near-ubiquitous connectivity, more Gen Xers shop online than any other generation: 16.2 million online households.
  • Financial services. Online banking programs garner participation from younger adults, two-thirds of whom have checked balances online in the past three months. Web access to investment campaigns appeal to Boomers, who are more likely to make use of the online investment management tools.
  • Travel. More than half (55%) of online travelers book their travel online. Young adults research and book their travel with Web agencies like Expedia or Orbitz more often than older travelers: 51% of Seniors booked with the airline they flew compared with only 33% of Gen Yers.