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Apparel Expenditure Patterns of Elderly Consumers: A Life‐Cycle Consumption Model
Author(s) -
Lee Jinkook,
Hanna Sherman D.,
Mok Chiu Fui Joyce,
Wang Hui
Publication year - 1997
Publication title -
family and consumer sciences research journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.372
H-Index - 31
eISSN - 1552-3934
pISSN - 1077-727X
DOI - 10.1177/1077727x970262002
Subject(s) - clothing , consumer expenditure survey , consumption (sociology) , consumer expenditure , demographic economics , life cycle hypothesis , economics , business , labour economics , public economics , aggregate expenditure , geography , sociology , social science , archaeology , macroeconomics
Using the 1990 and 1991 U.S. Bureau of Labor Statistics Interview Survey of Consumer Expenditures, apparel expenditure patterns of elderly consumers were analyzed based on a life‐cycle consumption model. The life‐cycle consumption model implies planned decreases in apparel expenditure with age, and the empirical analysis supported this hypothesized age effect. In addition, income, financial assets, household composition, number of earners, and education werefound to influence elderly consumers' apparel expenditure patterns.