Check out this link from the Marketing Charts website. It’s a new study that shows that older consumers are less likely to cut back on products and services than their younger counterparts. Even if you don’t specifically target older demographics, understanding this data may be worth some money to you and your company. The folks at Marketing Charts have their own ideas about why this is the case which you can read on their website, but let me tell you what I think…

Quality of life:I think this is probably the most overlooked reason why older consumers are less likely to make cuts. Older people know that they have a finite amount of sand in the hourglass, are are therefore doing their best to enjoy life. Why deprive yourself of something that you enjoy?

Old Fashioned: When you’ve been doing the same things for a long time, it’s hard to change your ways. If you’ve subscribed to the newspaper for 30 years, it’s a bit more difficult to decide to cut it than it is for the person that’s only subscribed for 3 years.

Less Disposable Income:It’s no secret that younger people have more disposable income than older people. With less disposable income there are fewer ways to cut back. You can cut back on frivolous activities, but when all you have left are necessities, it’s a bit harder to make cuts.

I know I’m just scratching the surface here, so what do you guys think?