Management Review ›› 2023, Vol. 35 ›› Issue (7): 174-184.

• Marketing • Previous Articles     Next Articles

People Prefer New Products as They Become Older: The Effect of Aging Perception on New Product Purchase Intention

Zhang Huiying, Ding Zhihua, Jiang Xin, Wang Yawei, Xuan Shanqi   

  1. School of Economics and Management, China University of Mining and Technology, Xuzhou 221116
  • Received:2021-11-03 Online:2023-07-28 Published:2023-08-24

Abstract: With the increasing aging of China's population, the consumption behavior of the elderly has attracted more and more attention, but the research on older consumers' intention to purchase new products needs to be further discussed. From the perspective of aging perception, this paper explores the influence of aging perception on new product purchase intention through four studies. Study 1 verifies that compared with negative aging perception, older consumers with positive aging perception have higher intention to purchase new products. Study 2 tests the mediating role of perception control in the above effects and finds that, compared with the older consumers with negative aging perception, those with positive aging perception have higher perception control ability for new products, and thus have higher purchase intention for new product. Study 3 excludes the alternative explanations of compensation mechanisms. Study 4 finds that social support not only positively moderates the effects of aging perception and new product purchase intention, but also moderates the mediating effect of perception control. In this paper, the mechanism of how aging perception influences new product purchase intention is discussed, and some suggestions are provided for enterprises in terms of market positioning and product service.

Key words: aging perception, new product purchase intention, perception control, social support