TRAVEL AND LEISURE SERVICES PREFERENCES AND PATRONAGE MOTIVES OF OLDER CONSUMERS

The population is aging and the number of people over 55 (older consumers) is increasing. Firms which recognize the importance of the older consumer segment can use this demographic change to their advantage. However, the older consumer market is more heterogeneous than the younger consumer market when it comes to preferences, motives, and spending patterns. Travel and leisure services are no exception. This study reports the result of a large-scale study that examined the responses to travel and leisure services and patronage motives of different age and lifestyle groups. The results suggest several marketing strategies that would be most appropriate for reaching older consumers of travel and leisure services.