Socioemotional Selevtivity Theory

Age differences have significant theoretical effects on emotive/experiential and negotiation processes. Therefore, psychological studies focus on determining the factors influencing the decision-making process. In this context, it is crucial to understand whether these processes are elemental for senior adults as well. Arguing that senior adults are motivated to prioritize emotionally-significant objectives, socioemotional selectivity theory (SST) claims that older individuals are driven to extrapolate emotional significance from life. Old age has a rapidly growing potential globally. This potential is vital due to limited support and the increasing pressure on resources. Understanding the objectives behind the consumption of older consumers is crucial for marketers aiming to develop goods and services for them. Thus, older consumers constitute a significant market segment. Additionally, it is essential for practitioners to reveal how senior consumers assess, process, and react to information. This chapter begins with a section defining and conceptualizing SST; then, it discusses the importance of SST within the context of consumer psychology.