The population of Korea is experiencing an aging trend. However, there has been virtually no research on the purchase decision-making of elderly consumers as agents of consumption behavior. Accordingly, this study established hypotheses regarding the characteristics of Korean elderly consumers at each stage of the purchase decision process, based on existing research in gerontology and marketing, and tested these hypotheses in the context of outerwear purchasing. The results revealed that elderly consumers behave very differently from general consumers at various stages of the purchase decision process. Furthermore, it was found that distinct sub-segments exhibiting different consumer behaviors exist within the elderly population. Finally, the marketing implications of these findings and directions for future research are discussed.