The Impact of Aging Consumers on Business
David C. Hilton, Fort Hays State University
The author is a 76 year old retired sales and marketing exec who is a current graduate student at Fort Hays State University, Hays, Kansas. He earned a BA in Industrial Psychology from Wichita State University more than 50 years ago. It was only after retirement and the freedom that provides that it became possible to pursue an unsatisfied desire to earn an advanced degree. The initial goal was to study in a field completely different from a lifetime career in sales and marketing. Gerontology seemed to meet that goal. Readers of The Impact of Aging Consumers on Business will however note that there is a connection between Sales and Marketing and Gerontology that is found in the joys of Liberal Studies.
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The Impact of Aging Consumers on Business
For over a decade now there has been a constantly increasing buzz, from all quarters, concerning the impact of aging consumers on business. The business they refer to is not limited to commercial business but also includes, for example, the business of government, the business of education and even the business of spirituality. Speculation and predictions of all kinds emanate from academics, economists, business leaders and politicians. While there is more than a little disagreement on the nature of potential changes that might be brought about by our aging population, all agree that changes will occur and that those changes will have an impact on business in its broadest sense. This report seeks an overview of the nature of the messages being delivered by those concerned about the impact of aging consumers on business, as noted in scientific and professional journals and through academic research.
courtesy Vancouver Public Library collection
Who are the Aging Consumers?
We are all consumers. Our need for food, shelter, clothing, transportation, finances, travel & leisure, health care, education, etc. assures our status as consumers. We became consumers even before birth with pre-natal care. And in a sense, we are consumers at the end of life as well when you consider end of life costs.
