Strategies in the silver economy: A framework and a research agenda

The world’s population is aging rapidly, creating profound implications for businesses operating in the emerging “silver economy,” which encompasses economic activities of consumers over 50 years of age. Although older adults hold significant wealth and purchasing power, they are often underserved by marketing strategies that rely on stereotypes or overemphasize youth segments. This paper highlights the need for more nuanced, culturally informed strategies and approaches to engaging senior consumers. We argue for gerontographic segmentation—based on needs and socioeconomic characteristics rather than chronological age—and propose the 5As of silver marketing: Awareness, Accessibility, Affordability, Affect, and Advocacy. These principles provide a framework for designing inclusive products, communications, and services that resonate with diverse senior populations across global markets. We also explore cross-cultural distinctions, such as wellness-oriented appeals in Western countries, family-centered approaches in China, and safety-focused marketing in Japan. In turn, this paper sets out a research agenda to integrate insights from gerontology, psychology, and cross-cultural studies into marketing theory. For practitioners, we emphasize opportunities to create value through age-friendly innovations, universal design, and authentic engagement. Ultimately, we encourage both academics and managers to recognize the silver economy as a driver of growth and innovation, rather than as a challenge to be managed. We hope the research agenda that we have provided will help stimulate a better understanding of the Silver Segment.