On People and Ageing: Opportunities in an Overlooked and Misunderstood Market Segment

The world population is ageing. Population ageing—the increasing proportion of older individuals in the population—is poised to become one of the most significant social transformations of the twenty-first century, with implications for nearly all sectors of society (UN, 2015). The World Population Prospects (2022) report reveals that the population aged 65 and above is growing at a faster rate than their younger counterparts. This demographic shift is projected to elevate the global proportion of individuals aged 65 and above from 10 percent in 2022 to 16 percent in 2050.

This demographic transition has given rise to a substantial and expanding segment of the population, often referred to as the “overlooked demographic”. Their unmet needs are a direct result of this demographic change. Understanding the economic advantages of the silver economy is essential, as is gaining insight into the behaviour of older individuals that goes beyond clichés, labels, biases, and preconceptions.

An increasing number of developed countries now recognise older individuals as a priority market, acknowledging the changing global population and the growing participation of older individuals in various activities. However, despite their significance, older individuals remain relatively unknown and undermarketed.

Ageing presents a significant challenge for decision-makers in fields ranging from politics and technology to marketing and service industries. Companies must strive to fully understand what older consumers want and are willing to pay for in an era marked by rapidly evolving consumer profiles and behaviours. This involves comprehending new consumption patterns, reevaluating the services they offer, adapting to the shifting needs of older individuals, and proactively addressing the changes and challenges.

This lecture serves a dual purpose: firstly, to explore this vital yet often overlooked demographic and secondly, to shed light on the changing behaviour of older individuals regarding essential aspects for businesses. The insights gained, along with their practical implications, can assist researchers, industry professionals, policymakers, and marketers in better understanding and meeting the evolving needs and expectations of older consumers as the population continues to age.

Speaker Biography

Adela Balderas Cejudo
University of Oxford, United Kingdom

Adela Balderas Cejudo, University of Oxford, United Kingdom
Dr Balderas is a Research Fellow at the Oxford Institute of Population Ageing at the University of Oxford, United Kingdom. She holds a PhD in Business Administration and an Executive MBA from the University of Deusto, Spain. She also has a Master's in Marketing from the University of the Basque Country and a Master's in Professional Coaching. Her academic background includes training in Professional Coaching and Leadership from New York University, Stanford University, and Harvard University. She has also gained expertise in Creativity and Innovation at Saint Martins College in London, United Kingdom.

A Professor at Deusto Business School at the University of Deusto and at the Basque Culinary Center, Adela is also a guest lecturer and collaborator at City Science MIT Media Lab and RCC Harvard, United States. She has also been a guest lecturer at several international universities, including the University of Oxford, Northumbria University (UK), Xiamen University (China), the University of Pennsylvania (USA), the University of Regensburg (Germany), the University of Gothenburg (Sweden), and the Ecole hôtelière de Lausanne (Switzerland). On a national level, she collaborates with several Spanish universities, including the University of Salamanca, the University of the Basque Country, and the University of Granada.

In addition to her academic roles, Adela is a consultant and speaker in the fields of management and leadership for both international and national companies. A mentor at the Imagine Creativity Center in Silicon Valley, she is the author of the books Reinvent Your Leadership: 12 Keys to Managing Teams and Senior Tourism: Determinants, motivations and behaviour in a globalized and evolving market. Her publications and research interests cover leadership as well as tourism and well-being for the silver market.

About the Presenter(s)
Dr Balderas is a Research Fellow at the Oxford Institute of Population Ageing at the University of Oxford, United Kingdom.

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Posted by Kid Millie