The aging consumer: what’s all the fuss about anyway?

Abstract

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The effect of aging on consumer disadvantage in grocery retail services among the Finnish elderly

“…The future elderly population will be healthier and wealthier in comparison with earlier generations. Because the elderly will represent an economically significant consumer group in grocery retailing, it is important to recognise their needs, wants and abilities in order to offer accessible services and in that way support independent living (Leventhal, 1991;Ahmad, 2002;Moschis et al, 2004;Pettigrew et al, 2005;Reisenwitz and Iyer, 2007).…”

“…There are a few studies which aim to predict how the baby-boomers will act in future markets (e.g. Leventhal, 1991;Kiander et al, 2004) but it has been pointed out that aging will change the preferences in certain shopping characteristics (Goodwin and McElwee, 1999) and that the behaviour of elderly consumers differs from that of their younger counterparts due to their economic situation, consumer tastes and motivations (Gunter, 1998). The elderly differ also from the earlier generations due to higher purchasing power, better health and longer life expectancy, which have led to changes in lifestyles and in shopping behaviour (Leventhal, 1991;Mumel and Prodnik, 2005;Reisenwitz and Iyer, 2007).…”

Congregate care facility selection: A conjoint approach

“…According to estimates, there are about 31 million people aged 65 and older in the United States (Moschis 1993). Projections indicate that by the year 2030, this age group will outnumber those under the age of 18 (Leventhal 1991). Contrary to myth, elderly Americans are no longer an economically deprived group (Coleman and Militello 1995;Fugate and Tudor 1995).…”

Internet Marketing to 50+ Generations in the UK and France

“…Segments are snapshots in time and therefore change as people themselves change. Indeed, Leventhal (1991) notes that the aging consumer of tomorrow will be different, and tomorrow is now here. Thus, with the exception of gerontographics, which has recently been applied to the U.S. health-care market (Moschis and Friend 2008), few studies are likely to be appropriate for profiling today's 50+ consumers.…”

“…As a consequence of the realization that age alone is insufficient to explain apparent differences in behavior (Moschis and Mathur 1993), alternative segmentation models based on a wider range of sociodemographic variables emerged. Leventhal (1991), for example, proposed segmenting older consumers using chronological age in conjunction with other factors such as buying power, marital status, and health. Studies also proposed combining sociological segments with product categories, examples including the development of five segments for over-the-counter drugs (Oates, Shufeldt, and Vaught 1996), Morgan and Levy's (1993) segments for health products and food, and four segments for apparel shopping (Mumel and Prodnik 2005).…”