Why older people are less open to innovations: Study by Dominik Hettich shows that seniors' maintenance focus discourages new product adoption

Many companies consider the development of new products and, going along with it, the replacement of old products to be a crucial factor in remaining competitive. However, with an increasingly aging population, pursuing such an innovation-driven strategy poses the risk of excluding a growing consumer segment. Indeed, significant adoption gaps can be observed, despite the clear benefits of many new products for older consumers. But how can companies ensure that they do not lose touch with older consumers, even as they need to develop new products?

A current research project conducted by Dominik Hettich from the Marketing Department in collaboration with Torsten Bornemann aims to answer this question by investigating the reasons why older consumers are less willing to engage with new products and what strategies can be used to increase their adoption. The results of this research indicate that because of their relative focus on maintenance, in contrast to growth-oriented younger adults, older consumers are less motivated to seek out external information about new alternatives and instead rely on their experiences. As a result of their limited information search, older consumers heavily rely on in-store information and the recommendations of salespeople. A communication strategy that addresses the maintenance motive can help to increase older consumers' willingness to engage with new product-related information prior to and at the point of purchase, enabling more informed decisions.

Want to learn more about the impact of aging on consumer behavior? The following literature review by Dominik Hettich and co-authors provides a comprehensive summary of current scientific insights on this topic: here