Business Opportunities In The Elderly Consumer Market

Abstract

The elderly market has received increased attention in recent years as the business community recognizes the size and buying power of this group. The diversity of the elderly population poses challenges for managers who wish to develop an understanding of this unique consumer group. A segmentation perspective is offered as a means to integrate divergent research findings by considering retail patronage motives of three groups of older shoppers. Recommendations are suggested to guide retail marketing efforts aimed at each of these segments.