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Article: Retailing and Older Adults
- Article from:
- Encyclopedia of Aging
- Author:
CopyrightCOPYRIGHT 2002 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RETAILING AND OLDER ADULTS
Older adults have become an attractive market for retailers and marketers. People over the age of fifty-five, a fast-increasing part of the population, have a growing amount of spending potential. They are rather affluent in terms of discretionary income, an
d many have both time and resources to devote to shopping. In the past, older adults
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spending habits were more conservative than their younger cohorts. However, in the last twenty years older adults have begun to spend at about the same rate as younger people.
The older population
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s expenditures cover a variety of goods and services: health care products, travel, recreational vehicles, ...