The study of the impact of time as a variable in consumer behavior goes back to at least the early seventies. It has been studied from both objective and subjective perspectives. The purpose of this article is to further explain the impact of subjective time perceptions on consumer behavior, with a focus on the elderly as a subgroup. Several frameworks for understanding time perceptions are discussed and coupled with various theories of aging to present, explain, and hypothesize age-related differences in time perceptions and the behavioral consequences of these differences. The article concludes with an integration of these time frameworks into the five-stage consumer decision-making process, and some suggested impacts on the marketing mix. © 1994 John Wiley & Sons, Inc.