The influence of gender on the new-age elderly's consumption orientation

This article offers some fresh insights on the richness of cognitive age as it is implicitly embodied as part of the conceptual and operational definition of the New‐Age Elderly (and their counterpart—the Traditional Elderly). First, the research provides evidence of the reliability and validity of the NAVO scale, a relatively new measurement instrument, designed to identify the New‐Age Elderly consumer. Then, as an important piece of new learning, the article explores the influence of gender on older consumers' consumption orientations. Among other things, the research indicates that older women (as compared to older men) seem to be more price conscious and more responsive to retail special and incentives, that they are more adventurous, and that they generally possess more market‐relevant knowledge in the form of shopping smarts. Still further, the research reveals that both New‐Age Elderly men and New‐Age Elderly women tend to be more optimistic about their financial situations than their Traditional Elderly counterparts. The article ends by offering suggestions relevant to the need for specific future research, and the potential marketing strategy implications of the research. © 2001 John Wiley & Sons, Inc.