Leadership

Consumer Decision Making And Aging: Current Knowledge And Future Directions

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Executive Summary

The authors review existing knowledge about older consumers and decision making. The authors develop a conceptual framework that incorporates the notion of fit between individual characteristics, task demands and the contextual environment. When the fit is high, older consumers use their considerable knowledge and experience to compensate for the impact of any age-related changes in abilities and resources. When the fit is relatively low, older consumers feel increased need to adapt their decision making processes. The authors discuss these consumer adaptations and propose a number of research questions related to the processes underlying them in order to contribute to a better understanding of how they can lead to more effective consumer decision making for older adults.

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