Some Insights into the Banking Behaviour of Older Consumers: An Empirical Study

Abstract

A trend which will have a significant impact on tomorrow's marketing is the growth of the market of the older consumers. In America in 1970 there were 18.6 million people in the 55–64 year age group and 20.0 million people in the 65‐year‐or‐over age group. Projections indicate that people in these age brackets will account for approximately 20 per cent of the American population, reaching 46.9 million by 1985. Besides growing in numbers, older consumers have also achieved a better standard of living within the past 20 years. Business Week claims that the expenditures of older consumers are far larger than the expenditures of the younger market. Projections, furthermore, suggest that older consumers will not only maintain their buying power but may also enjoy a substantially improved economic well being in the next two decades.

Citation

Alessandra, A.J., Knierim, L.H. and Yavas, U. (1982), "Some Insights into the Banking Behaviour of Older Consumers: An Empirical Study", Management Research News, Vol. 4 No. 2, pp. 4-7. https://doi.org/10.1108/eb027784