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Color Cosmetics Market's Segmentation for Korean New Seniors

  • Received : 2020.07.21
  • Accepted : 2020.09.22
  • Published : 2020.12.31

Abstract

Population aging and longevity have compelled major worldwide consumer markets to focus on senior citizens who exhibit a desire to nurture their appearance and obtain related products such as cosmetics. This trend signals an increasing need for in-depth research on elderly consumers in the color cosmetics market. This study identified the characteristics of seniors in the pre-elderly stage ("new seniors") based on their lifestyle and market segments. It employed online surveys with participants consisting of pre-elderly Korean women born between 1955 and 1963 who reside in the greater Seoul and Gyeonggi area. The study used SPSS 23.0 for factor analysis, reliability verification, cluster analysis, ANOVA, Duncan's test, and cross-analysis. The results show that new seniors could be classified into four groups based on lifestyle: Prime Seniors, Potential Seniors, Rational Seniors, and Slump Seniors. Each group has distinct characteristics. The findings suggest that the senior market requires further segmentation and is no longer a single uniform market. This study also confirms that the lifestyles of the elderly is an instrumental variable for their segmentation.

Keywords

References

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