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Substantial attention in advertising research has recently been paid to changes driven by proliferation of new media and the new communications patterns wholeheartedly accepted by consumers belonging to young generational cohorts X, Y, Z (eg. Wiedmer, 2015; Wenyu, Wang and Zhou 2006). These generational cohorts have also been considered the biggest and most important markets, therefore attracting almost exclusive attention in both academic research and advertising practice. However, one should not neglect current demographic trends indicating the aging population phenomenon which is, according to the United Nations report for 2013, taking place in nearly all countries of the world. At the moment, it mostly concerns developed market economies, particularly those in Western Europe, yet none the less it also concerns the emerging market economies in Central, Eastern and Southern Europe. While in Western Europe the population 65+ accounts for 19.2%, in Southern Europe it makes 18.8% of total population. Hence Serbia seems to be an adequate representative Southern Europe with elderly population (65+) accounting for 18.25% of overall population at the moment, and projected to grow to 23.44% as of 2026 (Statistical Office of the Republic of Serbia). Though scattered attention has been paid to elderly consumers in recent studies published in international journals (eg. Carrigan, Szmigin, 2000; Chevalier, Lichtlé, 2012; Barnhart, Peñaloza, 2013), the topic is not a brand new. In the fields of marketing and advertising, research interest in this topic goes back to the eighties of the last century (eg. Stivens, 1981; Smith, Moschis, Moore, 1985; Swayne, Greco, 1987; Nelson, Smith, 1988; Rahtz, Sirgy, Meadow, 1989). Prior to that, pioneering articles bringing to light the issues of ageing and its influence on changing social roles and behavior were published in journals in the fields of sociology and gerontology (eg. Blau, 1956; Blutena, Powers, 1978). Most of the articles however, addressed elderly consumers in the US, with limited attention paid to this issue in European studies. Against such a backdrop, the paper aims at opening a discussion on elderly market in European countries, by paying special attention to advertising messages based on the use of models 65+. The study presented here makes just a preliminary step in further research to better understand processing of advertising messages as well as measure its effectiveness Abstract: The paper aims at opening a discussion on representation of elderly consumers in advertising messages in local markets. It builds upon previous studies in the US and Western Europe, tackling the issues of advertising addressed to elderly consumers. Theoretical background is rooted in socio-psychological theories of aging and advertising. In the empirical part, findings obtained from content analysis of 154 print ads portraying 280 models from different demographic cohorts are presented and discussed. The data indicate under-representation of ads featuring models over the age of 65, however drawing attention to new products and services offered to elderly consumers in Serbia. In consequence, we may conclude that the elderly market in Serbia has not been limited only to health care products and supplements, but they have also been offered financial services (bank loans) and telecommunications services (internet) through specially created advertising messages addressing retired population. In addition, where existent in advertising creative elderly models are mostly centrally presented with no difference between female and male models 65+.

Elderly consumers existent or not?: Portrayal of consumers 65+ in print ads in Serbia