Boomers Have Different Expectations of International E-Commerce Than Younger Consumers

Fri, 26 February 2021  |  retail global 

Global e-commerce shoppers who are baby boomers have different expectations than younger groups when purchasing online from international brands, according to Global Voices 2021: Cross-Border Shopper Insights, a new global survey from eShopWorld, a leading cross-border e-commerce company. Unlike Gen Zers, who might prioritize the latest buy now, pay later payment options when shopping online internationally, baby boomers tend to look for fundamental best practices like the use of local language and currency and clear refund policies.

“Our data show that baby boomers are participating in international e-commerce more than ever, but that they value different aspects of the cross-border shopping experience than their younger counterparts do,” said Tommy Kelly, CEO of ESW. “Shoppers in the 57–75 age group naturally gravitate to online marketplaces, so retailers and brands seeking to reach them directly need to make sure their cross-border shopping experience is presenting information in their own local language and currency. Older shoppers also don’t care as much about customer reviews as Gen Zers and millennials do and they prioritize lower costs and clear refund policies. Being aware of these generational differences and offering boomers a cross-border e-commerce experience that caters to their specific preferences and needs ensures brands can create long-lasting, fruitful relationships that might be lost if they allow marketplaces to engage these loyal shoppers.”

KEY INSIGHTS:

• Boomers are more concerned about having information presented in their local language and currency. When shopping cross-border, 43% of boomers said they prefer websites to present information in their own local language (versus 31% of shoppers 40 and under) and 39% prefer to be shown prices in their own local currency (versus 31% of younger shoppers).
• Baby boomers are most comfortable shopping via credit or debit card. Some 65% of global e-commerce shoppers ages 57–75 have used credit or debit cards to make cross-border purchases. Only 3% of boomers have taken advantage of buy now, pay later options, versus 12% of shoppers ages 40 and under.
• Shoppers in the 57–75 age group prioritize lower cost over satisfaction with a past online experience. Some 42% of boomers surveyed said lower cost is a primary factor when shopping cross-border, versus just 32% of those in younger age groups. Only 27% of shoppers in both the boomer and 40-and-under age groups said that satisfaction with a previous shopping experience was a major concern.
• Boomers are less inclined to trust positive ratings. Only half as many boomers (9%) as younger shoppers (18%) said they are swayed by referrals or positive ratings when shopping online from international brands.
• Clothing is the top category for boomers purchasing cross-border. Among respondents ages 57–75 who had made a purchase from an international e-commerce site over the past six months, 72% said they had shopped for clothing, versus 91% of shoppers ages 40 and under, making it the most popular product category among both groups.
• A clear refund policy is key to a successful international e-commerce experience. Some 29% of boomers said a clear refund policy was important when shopping online from international merchants, versus 24% of those in the Gen Z and millennial group.

Source: eShopWorld