Flying solo, this week Paul Skeldon takes a look at how 5 billion now use the web worldwide, how the over 50s have become a big, untapped sector in the digital economy and why digital wallets are the future of all payments.
Stories covered in this Studio8.1 Vodcast:
The whole world is online… well 63% of them
There are now more than 5 billion people online globally, up nearly 200 million since this time last year, and figures indicate that 63% of the world’s total population now uses the internet – ecommerce, social are the boomers
Even the oldies are doing it
Older generations are increasingly online and are participating more in social media, with a quarter of baby boomers using these channels to find content. Meanwhile, Gen X’s time spent watching online TV has increased at nearly the same levels as Gen Z since 2015.
The Old-Aged Gamers (OAGs) are also still marching on. Pre-pandemic in Q4 2019, 56% of baby boomers said they play games via any device, a number which has now climbed to 65%. This highlights the potential in the gaming market, particularly as 83% of consumers are still gaming after the peak of the pandemic.
Digital Wallets explode
The value of digital wallets transactions will exceed $12trn in 2026, from $7.5trn in 2022. To capitalise on this substantial growth, the research predicts leading digital payment vendors will diversify their payment products to include new solutions, such as buy-now-pay-later and cryptocurrencies