Marketing to Retirees in Malaysia: A Study of Shopping Habits and Retail Needs

Abstract

This study is an attempt to examine grocery shopping habits and retail attributes valued by retirees. A comparison of behavior and preferences among the different age and ethnic groups as well as between male and female is conducted. Shopping habits examined include: type of store patronized, frequency of shopping trips, time of day for shopping, and money spent for each shopping trip. Information seeking behavior of older adults when in doubt about a particular product class is also examined. A list of 35 statements measuring different attributes is included to provide an understanding about the salient attributes important to retirees in Malaysia. Factors considered important are: free parking, favorable refund policy, one-stop shopping, reasonable pricing and ample parking bays. The least important are: celebrity endorsement and sales assistants who are of similar age as the retirees. Significant differences in attributes are found between those who are 60 years and older and those who are younger than 60 years. The Chinese are less concerned about quality, product origin, and availability of toilet facility. The females are more concerned about readable labels and tags, and accessibility by public transport while the males consider product packaging, ample parking bays, and free parking as desirable.