The Aging Consumer

The Aging Consumer: Perspectives from Psychology and Marketing, 2nd edition takes stock of what is known around age and consumer behavior, identifies gaps and open questions within the research, and outlines an agenda for future research. There has been little systematic research done with respect to the most basic questions related to age and consumer behavior, such as whether older adults versus young and middle-age adults respond to marketing activities including pricing, promotions, product design, and distribution. Written by experts, The Aging Consumer compiles research on a broad range of topics on consumer marketing, from an individual to a societal level of analysis. This second edition provides new versions of chapters contained in the 2010 volume that have been updated to reflect the latest psychological and marketing research and thinking. Included also are ten new chapters which cover exciting new ground, such as changes in metacognition in older adults, motivated cognition of the aging consumer, and a global perspective on aging and the economy across cultures. This updated volume is beneficial for researchers and practitioners in marketing, consumer behavior, and advertising. Additionally, The Aging Consumer, 2nd edition will appeal to professionals in other fields such as psychology, decision sciences, gerontology and gerontological social work, and those who are concerned with normal human aging and its implications for the everyday behavior of older individuals. It will also be of interest to those in fields concerned with the societal implications of an aging population, such as economics, policy, and law.

At present, about 45 million Americans are over the age of 65, and by 2020, one out of every six Americans will be 65 or older. These statistics are reflective of a worldwide phenomenon in developing and developed countries alike unrivalled since the Industrial Revolution. This edited volume, written by experts in many fields, examines the economic and psychological research on how aging consumers behave, make decisions, and choose in the marketplace. The book takes stock of what is known, identifies gaps and open questions, and outlines an agenda for future research. It covers topics from the individual to the societal level of analysis.

This book coaches marketing practitioners and students how to best satisfy the needs of the older consumer population. It first highlights the heterogeneity of the older consumer market, then examines the specific needs of the older consumer. Lastly, the book highlights the most effective ways of reaching and serving older consumer segments for different products and services such as financial services, food and beverages, healthcare and pharmaceuticals, and travel among others. It presents segment-to-industry specific strategies that help marketers develop more refined and targeted micro-marketing strategies and customer relationship management (CRM) systems for building and retaining a large base of older customers. These strategies also help demonstrate how companies can make decisions that increase profitability not only by satisfying consumer needs and wants, but also by creating positive change and improvement in consumer well-being.

Understand the impact of a global ageing population on how products are bought, and the effect this has on how to market and advertise these products and services to the older generation of consumers. Contains models for companies to evaluate the success of their own strategies, with tools for improving their age-friendly marketing campaigns.

First Published in 1998. Routledge is an imprint of Taylor & Francis, an informa company.

Since Boomers believe that they're getting better with age, marketers need to get better at the way they market to age. The brands and businesses that figure this out first will realize astonishing growth in this uncontested space .....and that is precisely the point of Getting Better With Age - Improving Marketing in the Age of Aging. Getting Better With Age is the second volume in Peter Hubbell's Age of Aging series. His first: The Old Rush - Marketing for Gold in the Age of Aging (2014) was honored with numerous accolades including the Axiom Business Book Award and the Indie Excellence Award. The Old Rush was also a finalist for the International Book Awards and the USA Best Business Book Awards. This new work begins where The Old Rush ended by offering a comprehensive view of aging, ranging from the financial implications of the longevity economy to the consumer behavior influenced by the psychology of aging. He then puts these findings into context by sharing a series of five "metaphorical case studies" that explore the ways that things -- such as Wine, Cheese, Leather, Cast Iron Skillets and Memories - get better with age. Finally, Hubbell offers readers 50 Ways to Get Better With Age - a wealth of aphorisms that offer immediate and actionable advice for brands that have come to appreciate the power of "getting better with age" and are ready to get started. If you're looking for the secrets to success, this book is brimming with secrets gleaned from the author's extensive career in advertising and his rise to prominence as one of the world's leading experts on marketing to age. It's serious business content served up as enjoyably as fine wine that gets better with age. Winner of the Silver Medal for Marketing books, 2016 Axiom Awards

The current shift in demographics – aging and shrinking populations – in many countries around the world presents a major challenge to companies and societies alike. One particularly essential implication is the emergence and constant growth of the so-called “graying market” or “silver market”, the market segment more or less broadly defined as those people aged 50 and older. Increasing in number and share of the total population while at the same time being relatively well-off, this market segment can be seen as very attractive and promising, although still very underdeveloped in terms of product and service offerings. This book offers a thorough and up-to-date analysis of the challenges and opportunities in leveraging innovation, technology, product development and marketing for older consumers and employees. Key lessons are drawn from a variety of industries and countries, including the lead market Japan.