Purpose – The purpose of this study is to review scholarly research on elderly consumers’ information processing and suggest implications for services marketing. Design/methodology/approach – The review encompasses a five-decade period (1970–2018) of academic research and presents relevant literature in four main areas related to information processing: sensation, attention, interpretation and memory. Findings – The study illustrates how each of the aforementioned phases of the information processing activity may affect how elderly individuals buy and consume products and services, emphasizing the need for a better comprehension of the elderly to develop effectual marketing strategies. Originality/value – The study provides readers with detailed state-of-the-art knowledge about older consumers’ information processing, offering a comprehensive review of academic research that companies can use to improve the effectiveness of their marketing efforts that target the elderly market.