Trend Report

Service Trumps Price As Consumers Get Older

Consumer Priorities For Financial Institutions, Insurers, And Retailers

Bruce D. Temkin
 and  two contributors
Jul 30, 2007

Summary

We asked consumers what they felt was most important when doing business with a number of different types of firms. Our analysis looked at their responses about three sectors (financial services, insurance, and retail) across five generations of consumers (Gen Y, Gen X, Younger Boomers, Older Boomers, and Seniors). The bottom line: Young consumers really care about low prices, and older consumers really care about good service and the firm's reputation.

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