According to the Pew Research Center, Generation X Internet users (ages 33-44) excel at using the Internet for practicality and efficiency in everyday life and are the most active group when it comes to banking and shopping online. That it is not the younger Generation Y group (ages 18-32) leading these categories comes as a surprise to some. The report goes further to state that teens and Generation Y predominantly use the Internet for entertainment, like online games, and for social networking.
Perhaps this dominance can be attributed to the relative affluence of Gen X, as they tend to have more money to transact with than younger folks, and tend to have more bills to pay – increasingly through online banking. Also, busy as they are with their careers and families, online shopping likely presents welcome efficiency and the ability to bargain hunt. The research does say that as Generation Y users grow older, they become more likely candidates for online banking. The data for generations older than Gen X did not show any likelihood of increasing usage of online banking.
I personally love the convenience of using online banking and shopping – I’m one of those Gen Y people that is growing into those habits. When I look at the people around me, the findings of the report seem fairly accurate. My grandmother, who is learning to go online, will use the Internet primarily for email – something else that is stated in the full report.
These trends are also reflected by the demographics of the shoppers who use eBillme to pay for purchases with online banking. The report is well worth looking at and you can find it here.
