Apple Inc. may have a huge fan base of young people, but older consumers are the ones coughing up the most dough for its trendy devices.
Men older than 65 spent more money on Apple products in the past year than any other age or gender combination, an average of $976 per person versus the national average of $788, according to new data from Slice Intelligence. Men between 45 and 54 were the second-biggest buyers, with men out-spending women across all age demographics.
When including all Apple consumers, those older than 45 outpaced the national spending average, despite that demographic representing just 27% of Apple’s total online customer base, according to Slice, which analyzed data from more than three million Slice users.
The senior demographic has become an increasingly important market for Apple, particularly given the high demand for innovation in health care — a major focus of the Apple Watch — for older generations and reports of smartphone saturation in younger demographics.
New data published this week from Pew Research showed that 86% of U.S. consumers between the ages of 18 and 29 already own a smartphone, a signal, it says, that the saturation point is nearing among that demographic. The iPhone made up 66% of Apple’s $233.7 billion in revenue last year.
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SOURCE: Market Watch, Jennifer Booton