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What the numbers say: Respondents in the 50-64 age cohort purchased the greatest share of the considered product categories on the Internet. Internet users in the 18-29 age cohort purchased the smallest share of the considered products online. Relevance: The U.S. book publishing market was valued at $40.9B in 2022, while the video game industry was valued at $97.67B the same year. The share of sales that takes place online in these markets will have a significant impact on e-commerce as a whole. Notably, in the considered product categories, older internet users purchased more items online than younger ones. Brands that should care: Since a greater share of older Americans appeared to purchase books, music, movies, and video games online, retailers should treat them as the target market. The surprisingly low share of young Americans in this survey who participated in e-commerce indicates that e-commerce platforms should focus more on growing this market. Market research firms should investigate the surprising results of this survey. |
