Senior's lifestyle and their store choice

Abstract

To attract and retain customers, an understanding of their motives and reasons for selecting particular food and grocery store is needed. This is of particular importance in the growing segment of seniors. The size of the senior's market demands a better understanding of the older consumer. The aim of our study is to identify psychographic characteristics of the elderly consumer, and to indicate the lifestyle groups and the relationship between these groups and retail store attributes. Differences in the motives for patronizing specific food stores are analyzed for lifestyle groups. We use the lifestyle as a segmentation variable in the diverse population of seniors for the reason, that the lifestyle of the elderly provides more valuable information than chronological age alone. This information can be used by retailers to improve marketing strategies in order to appeal to a target group of senior shoppers. Empirical research is based on a self-administrated questionnaire aimed on the identification of the lifestyle characteristics and retail store attributes of the consumers in 65+ age, used for the choice of food purchasing retail stores. Lifestyles characteristics were measured by the respondents activities, interests and opinions (AIO). The results of the research indicate that there are differences among the lifestyle groups with significant differences in attitudes towards quality of products or internal store environment. Our research demonstrates the value of psychographic information over age alone regarding the patronage factors in store selection. Our study is a part of the research project VEGA 1/0612/12 „Determinants of the size, structure and tendences in the individual consumption of seniors“ (English) [ABSTRACT FROM AUTHOR]