Further Segmenting
The Functional Majority Within each generation, there is a wide range of adoption likelihood when it comes to technological advancements. Our target consumer is not obsessed with trying the latest technology. They understand it exists, but don’t spend the time or resources needed in their busy lives to be on top of every emerging trend. They appreciate technology, own a smartphone and spend a significant amount of time connected to digital media. They are the functional majority. Our functional majority does not have ample time to spend actively researching new technology, but are looking for simple, innovative ways to make their lives easier. They are open to technological aids, willing to embrace change and take risks it if it is put in front of them in as part of their daily lives.1 Convenience is highly valued, especially considering their busy lifestyles. They like the concept of contactless payment, however may not know how to use it or if their card even has it.2 While they already frequently shop online, payment safety is a concern, and level of trust in their credit card could influence the card they use for saved payment information. The functional majority are the future of contactless payment and online purchasing. Convincing this population is the key to a domino effect of technology adoption, from their peers and their offspring. They are everyday consumers ready to take advantage of services that will make their lives easier— they just need a little push.
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1. https://blog.hubspot.com/marketing/early-adopters 2. https://www.creditkarma.com/credit-cards/i/contactless-payment-fad-or-future/
