50+ Consumers Are Buying Into Green Technology
From simple energy-saving light bulbs to more costly and complex high-efficiency heating and cooling systems, 50+ home owners are more likely to equip their homes with the latest in energy-efficient technology than their younger peers, according to a recent survey focusing on green issues conducted by Rockbridge Associates , a market research firm based in Great Falls, Va., and the University of Maryland.
Not only do more seniors own these products, Rockbridge research analysts said, they also are more likely to want them.
The National Technology Readiness Survey, conducted annually since 1999 by Rockbridge Associates and the Robert H. Smith School of Business' Center for Excellence in Service at the University of Maryland, tracks beliefs about technology and key behaviors related to the Internet and environmental-related services. The survey measures consumers' technology readiness and identifies emerging trends.
The latest survey was conducted from September to November last year and sampled 1,025 people 18 and older, of which 405 respondents were 50 or older.
Source: National Technology Readiness Study, conducted by Rockbridge Associates, Inc. and the Center for Excellence in Service, Robert H. Smith School of Business, University of Maryland, December 2007
According to the survey, 50+ consumers were more likely to own, or want to own, energy-saving light bulbs, high-efficiency heating and cooling systems, programmable thermostats, eco-friendly homes and home weather stations than their younger counterparts.
The differences between the age groups “point to the desire among 50+ consumers for a more efficient, comfortable and convenient living environment,” said Dave Glantz, Rockbridge senior research director, adding that it is difficult to justify this interest solely in economic terms.
“While many 50+ consumers might be interested in this technology because of the long-term cost savings, it nevertheless costs more in the first place to purchase these more energy-efficient products, compared to conventional offerings,” Glantz said. “Beyond pricing considerations, it appears 50+ consumers are driven also by their more pronounced concern about the environment.”
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