Consumption Patterns of Chinese Elders: Evidence from a Survey in Wuhan, China

Abstract

The elderly population in China has grown since 1999. Many Chinese businesses have noticed this trend and began to focus on the Gray Market. The behavior of older Chinese consumers has significantly changed. Descriptions of their behavior in previous research need to be updated. This paper uses data from a survey conducted by the authors in China to investigate the current behavior of older consumers. Results show that older Chinese consumers (1) have similar consumption needs as younger adults; (2) display more mature consumption attitudes; (3) play a less important role in the family; and (4) have strong desire for compensatory consumption. These findings call for further research into the behavior of older Chinese consumers as a major marketing focus.

Keywords: Aging, China, Consumer behavior, Gray market, Older consumers