The influence of gender on the new‐age elderly's consumption orientation

Abstract

This article offers some fresh insights on the richness of cognitive age as it is implicitly embodied as part of the conceptual and operational definition of the New-Age Elderly (and their counterpart -the Traditional Elderly). First, the research provides evidence of the reliability and validity of the NAVO scale, a relatively new measurement instrument, designed to identify the New-Age Elderly consumer. Then, as an important piece of new learning, the article explores the influence of gender on older consumers' consumption orientations. Among other things, the research indicates that older women (as compared to older men) seem to be more price conscious and more responsive to retail special and incentives, that they are more adventurous, and that they generally possess more market-relevant knowledge in the form of shopping smarts. Still further, the research reveals that both New-Age Elderly men and New-Age Elderly women tend to be more optimistic about their financial situations than their Traditional Elderly counterparts. The article ends by offering suggestions 1074 SHERMAN ET AL. relevant to the need for specific future research, and the potential marketing strategy implications of the research. ᭧

Cognitive age and grocery-store patronage by elderly shoppers

“…This difference confirms the findings of other authors (e.g., Kaufman & Elder Jr., 2002;Mathur & Moschis, 2005;Sherman et al, 2001;Sudbury & Simcock, 2009) and indicates the constant nature of consumers' self-concept, that is their own perception of themselves changes only gradually in line with significant life events. As such, the results suggest that knowledge and understanding of customers' self-perceived age can add value for retail marketing and management (Moschis & Mathur, 2006).…”

“…They also see the dependency of cognitive age on changes in environment -for example significant events such as illness, retirement, loss of a partner -as a reason why (especially older) people often perceive themselves to be younger than they are (e.g. Sherman et al, 2001). As an outcome of this time-lagged change in self-perception, older people in particular often stick to developed and learned consumption-related behaviour and thus try to retain their self-concept (Moschis & Mathur, 2006).…”

“…Most of these store patronage studies have been grounded in the stimulusorganism-response (S-O-R) framework (e.g. Finn & Louviere, 1996;Mazursky & Jacoby, 1986;Sherman et al, 2001). This framework is rooted in the work of Mehrabian and Russel (1974), in which a stimulus is posited to lead to an evaluation and emotional reaction, which subsequently informs consumer behaviour (Donovan & Rossiter, 1982).…”

“…Cognitive age is arguably a more accurate predictor of people's attitudes, beliefs and behaviour than chronological age since it reflects this nonconstant rate of aging more accurately (e.g. Moschis & Mathur, 2006;Sherman, Schiffman, the segment grows in terms of numbers and disposable income (Yoon et al, 2005). These consumer cohorts have specific needs and abilities and thus distinctive consumer behaviour (Hare, 2003;Moschis, Curasi, & Bellenger, 2004).…”

“…The literature has covered fragmented aspects of older consumers' behaviour in relation to cognitive age. Behavioural variables that have been investigated include brand choice and trial, information-seeking behaviour and cautiousness in purchasing (Gwinner & Stephens, 2001;Stephens, 1991), perceived time, time usage and consumption activities (Szmigin & Carrigan, 2000;Szmigin & Carrigan, 2001), consumption orientation (Sherman et al, 2001), responses to pricing and communication/advertising stimuli (Barak & Gould, 1985;Moschis & Mathur, 2006;Sudbury & Simcock, 2009) and TV/media consumption (Johnson, 1993;Smith & Moschis, 1984).…”