What Do Mature Consumers Want?
AT Kearney (a management consultancy which does ongoing research into the mature consumer) has released a paper titled: What do mature consumers want? Participants included 3,000 people aged 60 and over in 23 countries around the world from cities, towns and rural areas, belonging to all income brackets and age groups (60s, 70s and 80s). Some of the finding relevant to libraries were:
- An “agequake” is underway: a demographic earthquake: the 21st century will see people aged 60+ as the fastest growing consumer group.
- Mature citizens control much of the wealth, even though their nominal imcomes may decline after retirement.
- This has far reaching implications for retailers and manufacturers and retailers, who need to understand the needs, expectations, shopping behaviours and preferences of the mature customers.
- Aging shoppers, with up to 30 per cent of spending power have entirely different needs to those of busy younger shoppers for whom much is now geared. These needs include: social interaction, personal attention, seating and clear selection in store, easy to open packaging and easy to read labels.
- Older shoppers feel that they are not adequately served by marketers, retailers or manufacturers
- Stores are often understaffed and staff on hand are not well enough trained to help them.
- Half of survey respondents use the interenet, with 20 per cent using it for shopping.
- Around 50 per cent of respondents over 80 said that they use a mobile phone, even though mobile usage declines sharply with age.