Developing a Purchasing Model for Senior Customers in the Furniture Market

In my research, I focused on the segment of people aged over sixty, narrowing my analysis to a less researched but even more substantial area: their role as buyers in the furniture market, their decision-making processes, and preferences. The studies revealed that the segment is far from homogeneous, although some characteristics are general to all generations. There are, however, differences in the purchasing styles and certain elements of the purchasing process evolve as a function of labor market activity, education, family situation, and perceived wealth. The research has revealed the presence of three clusters within the segment, which indicate differences in purchasing attitudes and preferences along with the above factors, thus determining the segment's reach in the furniture market. The research shows that the members of the first (Open Novelty Acceptors), second (Thoughtful Realists), and third (Traditionalists) clusters have different buying styles. The shopping style observed in these groups has an impact on their information intake, purchasing decisions, and store selection mechanisms. Since our research focused on the relationships between demographic characteristics and senior buying behavior, evaluating product alternatives, information seeking style, the impact of store attributes on the buying behavior and their decision-making style, we were able to build a senior buying style model specifically applicable to the furniture market, indicating the relationships between these attributes