Generation X remains the key generational group for online spending, according to analysis by NAB, with an industry expert attributing the finding to Gen X\u2019s easy access to technology.<\/p>\n
<\/span><\/p>\n <\/p>\n According to analysis of debit and credit card transactions by NAB and data analytics firm Quantium, Gen X spent more per person in the retail sector in 2012 than any other generation.<\/p>\n <\/p>\n Last year, Gen X spent an average of $1,133 every month, while the average Australian spent close to $850. Baby Boomers spent an average of $1,016 per month, while Generation Y spent an average of $828.<\/p>\n <\/p>\n The research defines Gen X as people currently aged between 32 and 52. Baby Boomers are defined as those aged between 52 and 66, while Generation Y are those aged between 22 and 32.<\/p>\n <\/p>\n In an in-depth report on the NAB Online Retail Sales Index, NAB chief economist Alan Oster said those aged in their 30s and 40s remain the key demographic for online spending.<\/p>\n <\/p>\n \u201cThe share of spending by age group has remained quite stable since we commenced tracking online retail sales,\u201d the report said.<\/p>\n <\/p>\n \u201cIn an absolute sense, those in their 40s and younger account for the majority of sales \u2013 at around 23% for each group in the year to October 2012.<\/p>\n <\/p>\n \u201cHowever, on a per capita basis, the bulk of spending is recorded among those in their 30s and 40s \u2013 with the under 30s age group recording below average spending \u2013 like a reflection of their relative lack of purchasing power.\u201d<\/p>\n <\/p>\n In addition to the higher levels of income among the older age groups, Russell Zimmerman, of the Australian Retailers Association, says Gen X typically has easier access to technology, hence its propensity to spend online.<\/p>\n <\/p>\n \u201cThe internet is becoming more and more important to the consumer. We know from PayPal research that people are starting to use smartphones [more frequently],\u201d Zimmerman says.<\/p>\n <\/p>\n \u201cWhat we\u2019re seeing here is more and more people are moving to technology. What was the biggest single selling thing [over the Christmas period] was people milling around Apple stores and technology stores.<\/p>\n <\/p>\n \u201cMore and more people are using technology. Generation X is using it. That doesn\u2019t surprise me but it will plateau out.<\/p>\n <\/p>\n \u201cI think that you\u2019re finding more and more people are getting into this sort of technology, but I don\u2019t think it\u2019s necessarily just the young ones that are doing it.<\/p>\n <\/p>\n \u201cI get talking to my parents\u2019 peers and the number of them actually involved in the internet and using the internet absolutely astounds me.<\/p>\n <\/p>\n \u201cIt\u2019s just that that generation (Generation X) is involved in that technology base through work.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Generation X remains the key generational group for online spending, according to analysis by NAB, with an industry expert attributing<\/p>\n","protected":false},"author":2,"featured_media":60935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41370"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=41370"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/41370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60935"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=41370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=41370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=41370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}