The remaining factors have less impact on individuals’ purchasing patterns than their age category. Although it is often argued that age bracket plays a crucial role, I believe that all other relevant aspects have more influence on people’s spending habits.
On the one hand, income and financial status affect more than age. Firstly, wealthy adolescent can afford the same as mature and successful individual. While low-income citizens are forced to buy only essential items, such as basic products and clothes. Secondly, personal lifestyle has a greater importance on spending funds. For instance, athletes invest in sports equipment at any age. Also, travelers buy tickets regardless of whether they are 18 or 40. However, sometimes purchasing power is directly related to age.
First and foremost, age shapes preferences and priorities. Young people focus on trends, fashion and technology, whereas middle-aged people spend money on household products, such as furniture and children’s goods. Nonetheless, elderly people prefer to purchase medicines for maintaining health. Another point, marketing focuses on age segments. For example, various companies create suitable products for each age bracket.
In conclusion, even though it’s widely argued that people’s shopping habits depend on age group, I consider that there are many aspects that also have an impact.