Cognitive age can be used in conjunction with chronological age to better target segments, create more effective content, and select the most efficient media channels.
Older families have more to spend, but less need to spend. Those on fixed incomes are thrifty and careful with the money they do spend16 because inflation causes prices to increase, reducing their buying power. They have experience with chopping and are able to wait until they find a good value. Consumption patterns vary substantially between the retired and those still working,17 and therefore some may respond more to coupons and be willing to shift their buying to off-peak times. Nevertheless, with home mortgages paid off or nearly so, no more college education to finance, and am inventory of appliances and furnishings, mature families are good prospects for luxury goods, travel-related products and services health care, and a wide range of financial services.