ACCI Conference 2024

The acceleration of digital transformation across businesses and society is making older consumers vulnerable in the consumer market. This study examined the effect of digital transactional competency of older consumers on consumer life satisfaction. Further, this study explored the moderating role of digital transaction efficacy on this relationship. Using data from the 2022 Consumer Competency Index, administered by the Korea Consumer Agency, we analyzed the sample aged 60 years and older. The findings reaffirmed that digital transactional competencies (in both knowledge and practice domains) and efficacy were positively related to consumption life satisfaction among older consumers. Furthermore, digital transactional efficacy only moderated the relationship between digital transaction competency and consumption life satisfaction, in the knowledge domain. Policy and educational efforts to increase older consumers’ self-confidence through experiential learning in digital environments are called for.

Author(s): Mina Yu, Soo Hyun Cho