Silver dollars: the development of the US elderly market segment

Abstract

Purpose -The purpose of this paper is to periodize the history of the US senior market segment, a large, lucrative target market. Design/methodology/approach -The paper uses a four-step adaptation of an existing framework, periodizing the segment's history into three phases: independence phase, mid-nineteenth century-1935; growing affluence phase, 1935-1965; and maturity phase, 1965 to present. Findings -The senior market began with urbanization resulting from the industrial revolution. The growth of private pensions, two World Wars, a variety of governmental programs such as the GI Bill and Social Security and Medicare Acts, political power resulting from the establishment of groups such as the American Association of Retired Persons, and increasing stress on inclusiveness in marketing accelerated the growth of the market. As baby boomers age, the market is sure to grow in scope and market power. Research limitations/implications -Time and space limitations require that this paper focus on the senior market only in the USA, and analyze only broad activities, events, and trends. Originality/value -This paper contributes to the study of marketing history and market segmentation in particular by analyzing the origins and growth of this very large and unique market segment -largely due to the fact that it currently represents about 12 percent of the US population, unique in that all Americans are or likely will be members. It illustrates the confluence of government policy, marketers' never-ending drive to find new target markets via product differentiation, and the importance of demographic change.

An Investigation of the Demographic, Psychological, Psychographic, and Behavioral Characteristics of Chinese Senior Leisure Travelers

“…As identified by Shoemaker (2000), these labels include the mature market (Lazer, 1985), the older market (Allan, 1981), and the senior market (Shoemaker, 1989). More recent studies have used other phrases such as baby boomers (Lehto, Jang, Achana, & O'Leary, 2008) and the silver market (Branchik, 2010). Generally, these names reflect people aged 55 and older.…”

Senior tourists’ preferences in the developing countries – measuring perceptions of Serbian potential senior market

“…For the purpose of this study, the authors investigated people aged 55 and older, who are labelled in the scientific literature as the senior market (Shoemaker, 1989), the mature market (Lazer, 1985), or the silver market (Branchik, 2010).…”

Consumer behaviour: the influence of age and family structure on the choice of activities in a tourist destination

“…These results correspond with earlier study of Swarbrooke and Horner (2006) who assumed that young people look for parties, elderly people prefer sedate activities. Research results also show that tourists aged 45þthe silver market (Branchik, 2010) have a stronger preference for activities related to health and gastronomy compared to younger tourists whose preferences are fun and shopping. Furthermore, it was observed that families with two or more children prefer health, while single tourists and families without children prefer fun during their vacation.…”