Consumption in older age: Risks and potentials

The recognition of older people as a specific group of consumers is growing together with their increasing share of the total population. Some speak about the silver or grey market and about older people constituting a resourceful and well-off consumer segment. Others talk about age discrimination in the way older consumers are treated and how their needs are addressed in the market. Usually the importance of heterogeneity and, therefore, the segmentation of older people is stressed. This presentation is based on a representative survey of people aged 40+ carried out in November and December 2011 in the Czech Republic.  The “Older consumers” survey covers a wide range of consumer related topics. In my paper I will concentrate on both general consumption patterns and specific risks older consumers have to face. I will show the importance of cultural and social capital with regard to consumption and inherent risks, and discuss the age discriminatory factors identified by older people in the course of satisfying their needs for goods, services and information.