A multivariate segmentation model of senior consumers

Abstract

Purpose The purpose of this study is to provide a multivariate segmentation model of the older consumer market, utilising variables based on the major dimensions of ageing, and behavioural variables previously shown to be pertinent to older adults in the gerontology and marketing literature. Design/methodology/approach A self‐complete questionnaire was administered to an age‐based quota sample of 650 older consumers (aged 50‐79) in the UK. Using the age and consumer behaviour variables, cluster analysis was performed. The clusters were then profiled using ANOVA, Kruskal‐Wallis and χ 2 techniques, using those variables not included in the initial analysis. Findings The results confirmed that the older consumer market is not homogeneous. Rather, five distinct segments emerged which differ considerably from one another on a range of variables, including consumer behaviours. Practical implications The model has practical implications for targeting older consumers, and the paper provides guidelines on how to reach the different segments. Originality/value The paper, the result of the largest known empirical study into older consumers in the UK, provides a comprehensive segmentation model that overcomes many of the limitations of previous segmentation studies pertaining to older adults. It also fills a research gap noted by several previous researchers in that a variety of different types of age are utilised.

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