The share of old age population is growing across the world, and developing countries are going to see the impact of such demographic change in the coming years. Ageism is identified as a major challenge in the wellbeing of the ageing population. Ageism negatively impacts the old age population by influencing their physical, mental, social, and financial health. Sustainable Development Goals (SDGs) focus on ensuring intergenerationality and thus require societal institutions to address ageism and ensure equity across age groups. This chapter explores ageing, ageism, its drivers, and impacts. It is a review-based chapter. It further examines consumer ageism and identifies that old age consumers are underrepresented, stereotyped, and their diversity is often ignored. It examines the scope of sustainability marketing and concludes by presenting possibilities for sustainability marketing in addressing issues related to consumer ageism.
TopIntroduction
The share of ageing population in the world is growing due to the improvements in life expectancy, modernization of medical field and decreasing level of fertility (UNDESA Population Division, 2020). As per this report, in the year 2020, “there were 727 million persons aged 65 years or over” and this number “is projected to more than double, reaching over 1.5 billion in 2050” (p3). Interestingly, it means that “by 2050, the number of persons aged 65 years or over globally will also surpass the number of adolescents and youth aged 15 to 24 years” (p1, UN, 2019). It is important to note that the old age population contributes (a) economically (through income, consumption, taxes, asset building, wealth creation, and retention potential); (b) socially (through knowledge, skills, experience, care, participation in community organizations, governance of public institutions) and (c) politically through their involvement in voting, grassroot organizations, civil society, lobbying group, and political parties (UNDP, 2017). Still, it is noted that society and market systems overlook old age peoples’ needs and welfare (Bateson, 2021).
More importantly, the issues related to retirement and aging population are mainly considered in the context of developed countries (NATIXIS Investment Managers, 2020). However, it is projected that by the year 2050, approximately “80% of world’s older population will live in less developed countries” and the population above 60 years will be “1.7 billion” in developing countries and “427 million” in developed countries (p2, WHO, 2020). This also suggests that social and market systems of developing countries should be ready for this demographic shift. However, it is noted that the developing countries are behind with respect to their preparedness to cater to the needs of ageing population and their welfare (Kohli et al., 2020).
The context of ageing and ageism is more complex and dire in the case of developing countries where population ageing is rapid and diverse; community’s ability to sustain itself is low especially in rural areas; systems (social security, social welfare, infrastructure, urban planning etc.) and markets are unprepared for changing demographic and above all, the research in this area is limited (Kohli et al., 2020; Kudo, Mutisya and Nagao, 2015).
This raises question why the needs and welfare of old age population are ignored or not prioritised? Literature indicates stereotyping, misunderstandings about ageing, unawareness about contributions of old age population, incorrect estimations of their economic and social potential and obliviousness about the diversity within old age population as some of the reasons. Market systems are also responsible in their share of neglect of old age customers which is noted in the lack of inter-generational perspective in product designing, in packaging, in facilitating access, in pricing of products, and in designing of shopping environment and service spaces (Gutterman, 2022; Georgantzi, 2018). It can also be witnessed in the absence, stereotyping, misrepresentation and misleading of old age population in market discourse (Loos and Ivan, 2018; Vincent et al., 2008). However, markets cannot afford to ignore these changes in demographics (Panagos, 2003). Being part of societal systems, marketing is not neutral and nor are its effects (Tadajewski, 2018). Therefore, responsible marketers can opt to be inquisitive about the changing population dynamics; to be empathetic and inclusive to population diversity; to give weightage to customer welfare, system and sustainability perspectives in their visions over mere profit focus; to be proactive in offering innovative solutions, and to be open for collaborations with others like public sector, non-profit organizations, civil society, and social systems in order to provide real value across the spectrum of diversity of population.