The ageing of the population is a global phenomenon. Almost every country around the world is in the midst of this longevity revolution. According to the United Nations (2020), the world’s population over 65 years of age will increase from 9% in 2019 to 16% in 2050. It is also expected that one in six people worldwide will be aged 65 years or over by 2050. While the ageing population may affect the global health system, it also creates new business opportunities. There are no exact estimates for Malaysians over the age of 50, but according to UNdata (2022), about 15% of the population (2.8 million people) are over the age of 50.
Even though the world’s population is maturing, many businesses, notably those in the advertising industry, have received criticism for failing to fulfil the demands of older customers. Although this market is developing, older Malaysians are mostly ignored by the marketing and advertising industry. Given older individuals’ predicted growth and purchasing power, businesses must gain a deeper understanding of the market they serve to better cater to them and establish their business strategies to gain market share. The majority of commercial businesses are not fully prepared to reach these older adults. Specifically, there are gaps in the portrayal of the elderly in advertising compared to other social groups, although these older adults represent a large and attractive market in many countries worldwide.
Social services offered by government and non-profit organisations may be available to cater to older people. However, commercial corporations and the profit sector have not emphasised producing unique products and services for the more senior adult market, due to a lack of awareness. Some businesses that can capitalise on this unique market are those providing products and services for families and communities, shopping experiences, brand, and marketing, packaging, food, nutrition and health.
In the current contemporary culture, the younger segments are granted a privileged position. The younger market tends to be more desirable to businesses, marketers and advertisers due to their preference for aesthetics and beauty, physical fitness, freedom of choice, spending patterns, and acceptance of modern technology. However, these are in contrast with the preferences associated with older adults. Apart from misrepresenting the physical traits of the more ageing population, they are also often stereotypically described as unproductive and cost-conscious, leading to underrepresentation in advertising. Taking into consideration the attempts that have been made to-date to portray the older adults in advertising, it is evident that they are created largely through negative frames and pessimistic tones.
Such business practices of visually underrepresenting or misrepresenting the older adults in a prejudiced way can result in a massive loss of the market that is inclined to spend. This amounts to a huge missed opportunity for commercial businesses aiming to increase their sales and boost profitability. To rectify this issue, the older adults could be empowered to participate in content creation, featuring their lifestyles, personal goals, health status, living arrangements and social needs. Advertisers need to ensure that the experience of ageing is captured and constructed from a first-person perspective. In practice, the integration of older adults’ authentic voices regarding their preferences, needs and views will be very useful to meaningfully influence their own representations. Besides that, educational interventions can also provide businesses with evidence-based insights to develop a better understanding of the elderly market. Therefore, collaborating with researchers who have specialist knowledge on ageism could lead to substantial progress in tackling ageism and resolving the issues.
A key point that needs addressing is that advertising is not only about selling products or services, but it plays a huge role in shaping our society. It also helps to ensure businesses are aware of the needs and wants of older people. The message, content, images and nuances in advertisements that audiences are constantly exposed to tend to characterise a society and its way of life. This leads to how we view society, how we feel about ourselves and what we aspire to be. Hence, upholding a balance among accuracy, claims and depictions of ageing and older adults in advertising is a tough job for businesses, but it is an ethical and crucial obligation.
“Old Lives Matter, Too…”
By Assoc. Prof. Dr Izian Idris, Assistant Head – Department of Marketing Strategy and Innovation at Sunway University Business School (SUBS) and Dr Punitha Sinnappan, Lecturer, Department of Marketing Strategy and Innovation at Sunway University Business School (SUBS)
