Culture and Aging. Exploring older generations through the lenses of shifting patterns

Abstract

Worldwide, the phenomenon of population aging has been acknowledged by statistics, and the irreversible rate of aging presents exceptional challenges. In 1950, only 22% of the European population belonged to the age group of 50+. In 2019, the same age group accounted for 38% of the European population. In the next 30 years, the percentage of older adults (+50 and above) is projected to reach 46% of the population (Rogelj & Bogataj, 2019). However, despite the significant demographic shift, only recently academic researchers and policymakers have begun to recognize the importance of the rapidly growing silver segment within the population structure and its implications for the social and economic development of society for the coming decades. In response to the rapidly growing older market, the business world has reacted differently (Kohlbacher & Herstatt, 2011) to the demand of population aging: some appear to be unaware of the existence of this phenomenon; others are considering it loss-making; while few are actively seeking for solutions to be age-friendly pioneering by developing and promoting innovative products aiming to silver consumers.