Retirement: Why Delay? Insights into the Consumer Decision-making Process

C.M. Rickwood, Lesley White, K. Hughes

Research output: Book chapter/Published conference paperConference paperpeer-review

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This study brings together both consumer behaviour and economic psychology literature to gain insights and understanding of the consumer decision-making process in the context of saving for retirement. Three research questions concerning the reasons that consumers delay saving for retirement; use a financial planner; and save but do not use a financial planner, directed the research. A factor analysis of 194 usable questionnaires led to a typology of 10 components divided between three groups correlating directly with the research questions. A key component that emerged in the factor analysis is the role of risk in delaying decision-making when financially planning for retirement. This exploratory research suggests that there are at least 11 factors associated with pre-purchase decision-making that cause consumers to delay decision-making or to take action with regard to saving for retirement.
Original languageEnglish
Title of host publication3Rs reputation, responsibility, relevance
Place of PublicationDunedin, NZ
PublisherUniversity of Otago
Number of pages7
ISBN (Electronic)9781877156280
Publication statusPublished - 2007
EventAustralian and New Zealand Marketing Academy (ANZMAC) Conference - Fremantle, Perth, Australia
Duration: 05 Dec 200607 Dec 2006


ConferenceAustralian and New Zealand Marketing Academy (ANZMAC) Conference


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