The impact of age stereotypes on elderly consumers’ self-efficacy and cognitive performance

Abstract

In this article we address the question of whether age stereotypes impact cognitive performance in a consumer behavioral context. We assume that in consumer decision-making contexts, the elderly are affected by negative (vs. positive) age stereotypes, leading to less self-efficacy and thus a decrease in cognitive performance. We extend prior research by also asking whether perceived time pressure can reinforce the effects of age stereotypes on the elderly’s self-efficacy, which can in turn influence cognitive performance. The results of our experiment reveal that priming with negative (vs. positive) stereotypes leads to decreased cognitive performance among the elderly. This relationship is mediated by self-efficacy. Furthermore, self-perception of aging serves as a mediator for the effect of self-efficacy and cognitive performance. The effect of self-efficacy on cognitive performance is reinforced when consumers feel that they are under time pressure. The results of our investigation have important implications for the marketing of products or services to elderly consumers.