Aging and Expenditures on Apparel

Abstract

This research examines the spending patterns of elderly consumers (age 60 and above) on personal apparel. The Consumer Expenditure Survey provided the data. The sample of elderly consumers was limited to family units consisting of single consumers or husband-wife dyads. Analysis of variance was used to detect differences in expenditures associated with age and income class. Whenever a significant effect was noted, Tukey's Studentized Range Test was used to determine differences in means. The age of the Consumer Unit head was found not to affect expenditures for apparel, but income class was found to be significant (p < .001). These findings suggest that the elderly represent at least two, and perhaps three, distinct markets for apparel products. Those elderly characterized by high income and a propensity to spend may be an appropriate market to target for apparel.