Age as a determinant of demand in the financial market

Abstract

Aim. To determine the factors of age influence on the demand for financial products.Objectives. Establishment of age groups with distinction characteristics of demand for financial products; identification of groups of financial products characteristic for each age group; determination of the nature of the influence of age on demand in relation to certain financial products.Methods. The author applied a review and comparative analysis of Russian and international publications, quantitative analysis of the results of the All-Russian household survey.Results. Age groups with distinctive characteristics of demand for financial products were identified, and the selection of groups of financial products characteristic for each age group was carried out. In addition, the influence of age on demand for a number of financial products was analyzed.Conclusions. The formation of demand for financial products depends on age, which is a key demographic variable that determines the list of financial market products relevant for a particular age group, as well as quantitative and qualitative indicators of demand for financial products. Age as a determinant influences consumer choice of financial market products and consumer activity in these markets.