Impact of Age-Friendliness on Older Adults’ Consumption and Well-Being: Insights from a Hong Kong Survey Experiment

TL;DR

This study shows that age-friendly businesses and environments in Hong Kong significantly boost older adults' willingness to consume and improve their physical, mental, and cognitive health.

Contribution

The study introduces a novel factorial survey experiment to quantify the causal impact of age-friendliness on consumption and well-being in older adults.

Findings

Age-friendly practices increase consumption willingness by 146% among adults aged ≥50 years.

Age-friendly businesses are linked to better physical, mental, and cognitive health outcomes in older adults.

Older adults are more likely to engage in consumption aligned with healthy aging in age-friendly environments.

Abstract

Aims This study aims to investigate how older adults in Hong Kong perceive age-friendliness, focusing on how age-friendly business/societal structures influence consumption choices and wellbeing. Methods We use the second wave data from the Panel Study on Active Ageing and Society (PAAS, N = 3000), which is the first city-wide representative longitudinal survey on active ageing and society in Hong Kong. To identify the causal effect of age-friendliness, we designed a factorial survey experiment and randomly assign respondents to 16 self-developed vignettes. Multilevel models were employed to analyse the data. Results Our findings show that age-friendly practices, in general, along with its four specific domains of physical environment, staff and personnel, marketing and information, and products and services, positively impacts the consumption willingness of adults aged≥50 years, increasing their willingness to consume by 146% (mean difference: 4.03, t = 32.07, P < 0.001). Additionally, satisfaction with AFB is positively associated with the physical (e.g. lower risk of falls, sarcopenia and frailty), mental (lower risk of depression and loneliness), and cognitive health of older adults, as well as their life satisfaction. Businesses perceived as age-friendly are more likely to motivate older adults to engage in consumption that aligns with healthy ageing goals. Conclusions Age-friendliness enhances healthy aging by shaping consumption behaviors that prioritize older adults’ holistic well-being. The findings highlight actionable strategies for businesses and policymakers to design inclusive markets and age-friendly cities. By addressing older adults’ expectations of the silver market, this study supports creating health-supportive environments where older adults thrive.