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Research Article

An Empirical Study on the Purchase Behavior of Elderly Consumers

Kim, Donggi

Published: January 1994 · Vol. 23, No. 2 · pp. 1-26
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Abstract

This study aims to identify the purchasing behavior of elderly consumers in Korea through comparison with non-elderly consumers. To achieve the research objective, a survey on clothing purchasing behavior was conducted with 518 elderly and non-elderly consumers in the Seoul area. Among the collected data, 23 items related to purchasing behavior were reduced to 7 factors through factor analysis, and the factor scores of the 7 factors were used to comparatively analyze the purchasing behavior between elderly and non-elderly consumers. The results of this study indicate that elderly consumers exhibit weaker adventurous purchasing behavior compared to non-elderly consumers, while showing more sensitive responses to unbranded products and promotional factors than non-elderly consumers. Furthermore, elderly consumers were found to place greater importance on patronage stores and store personnel than non-elderly consumers. However, elderly consumers did not show particularly sensitive responses to price compared to non-elderly consumers, nor did they consider store convenience to be particularly important.