“For the first time, a third of American adults own tablet computers.”
So reads the opening line of Pew’s recent report, “Tablet Ownership 2013,” which makes clear just how quickly tablets are penetrating the U.S. market.
That 34 percent of American adults now own tablets is impressive in its own right. That the percentage registered at 18 percent just one year ago speaks even more to the platform’s dynamic growth.
What’s perhaps most interesting to those in the payments space, though, is how Pew’s recent findings mesh with what we already know: namely that tablet owners make larger purchases than their counterparts who shop on mobile phones, and that tablet users may be inclined to spend more frequently as well.
What else can Pew’s results tell us about the eCommerce economics involved with tablets? We take a look in this PYMNTS.com Data Point.
Tablet Ownership By Age
As Pew notes, while smartphone penetration tends to favor a younger crowd, the age group most likely to own a tablet comprises those aged 35-44, ringing in at a surprising 49 percent. Those aged 25-34 and 45-54 ranked similarly with respective tablet ownership rates of 37 and 38 percent.
Those aged 18-24 were representative of the U.S. as a whole as 33 percent owned tablets, while 28 percent of those in the 54-64 age group claimed ownership. The age range amongst adults with the weakest tablet penetration consisted of those 65 years and older, as just 18 percent owned tablets.
Overall, this trend meshes well not only with what we know about tablet spending, but with what we know about boomers vs. millennials as well. As our Karen Webster covered in this piece, millennials account for about 21 percent of all consumer spending, while boomers will account for around 70 percent over the next five years.
Take into account the disposable income at the hands of boomers and their impressive tablet penetration rate, and what you get is an eCommerce spending force with some serious money to at their disposal.
Tablet Ownership By Income
On a similar note to the one described above, income plays a major role in tablet ownership as well. The study measured four income groups ranging between totals of less than $30,000 a year to more than $75,000 a year. The trend progressed linearly to suggest that wealthier people are far more likely to possess tablet: an unsurprising trend.
The wealthiest demographic measured – those making $75,000 or more per year – had a tablet penetration rate of 56 percent. Only 20 percent of those making less than $30,000 per year owned such a device.
These results match well with a recent study we examined showing that luxury spending is on the rise amongst luxury shoppers. Also of note is that tablet shoppers tend to find experience more important than security, and that 71 percent of all tablet owners complete purchases from their devices.
To see more tablet statistics, view the full Pew report here.