The women of the boomer generation (those born between 1946 and 1964) wield a huge amount of buying power!
Buying power surprising stats Women over 50 make 80% of buying decisions for households that have 80% of the nation’s money.
(Sources: Boom and Why She Buys)
Facebook’s fastest growing demographic is made up of women 55 and older—particularly married women, according to 2010’s What Women Want: The Global Market Turns Female Friendly.
Boomer women are as likely as Generation Xers to consult websites before making a purchase, according to the National Federation of Independent Business (NFIB)... and 70 percent of all online purchases are made by women, including baby boomers.
ADVERTISING TO WOMEN OVER 50: PRACTICAL TIPS
Far from mourning their youth, grieving over empty nests, or moaning about stiffening joints, age 50 is a positive turning point for many women. “For most, it’s a major life shift, being a mom to thinking more about themselves. Women in their mid-age are returning to school, starting business, and making time for themselves. It’s finally ‘just for me’ time, and they make the most of it, pursuing old passions, exploring new ones, spending more time with their friends, and seeking out ways to give back. ... For women, 50 opens new doors, presenting vistas of endless possibility.”
• Never refer to baby boomers as seniors.
• BB are looking for products that appeal to their sense of adventure, curiosity, energy and continuous development.
• If you want their business, show them in your advertising, websites and magazines.
• If you are targeting women take care to show BB women in a varieity of roles and setting. Each women is an individual, not just a better half. Yet notice most women of 50 in marketing are shown with their husbands.
• Make sure the images reflect real women. 72% of all cosmetic procedures are performed on people under 50.
• Authentic marketing and business practices are more crucial for women boomers. Boomer women pay attention to a company’s practices, do they give baby to the community, social responsibility, are they respectful and understand.
• Baby Boomer women want a relationship with the company and she wants it to be sincere.
• Women baby boomers are being affected by eyesight changes. Choose larger and darker typestyles than you would for the younger person. Avoid reverse type.
• Quickly get to the point. a boomers brain can generally grasp the gist of something faster and better.
• Minimize distractions, boomers are more apt to become distracted easier.
• Tap into empathy, boomers can draw on more personal experiences. (Coaches)
Things to do if your demographic are baby boomers
• add graphics of this age group to your promo material and website
• larger and easy to read font style and size
• SEO to attract the demographic
• speak our language - we have been around awhile
• good lighting
• soft background music
• seating outside dressing rooms
• offer them refreshments, water, wine is even better.
• be authentic, friendly, real
• reduce the hassle fact. offer on-line ordering. offer gift wrapping.
• great service, don’t wait to be asked and no pushy sales people please
• sell unique products
• hire employees in the baby boomer age bracket - they relate better
• close parking if possible
Of special interest to home re-modelers and interior designers, reports show in a 2004 EPM Communications survey of women with a median household income of $150,000 showed that 93% of respondents expected to repeatedly redecorate their homes over time... noting that boomer women are re-purposing children’s rooms into entertainment centers, home offices, exercise rooms, and yoga retreats; adding mother-in-law suites and making their homes more age-friendly by adding banisters, elevators, intercoms, and the like.
Older group is spending :
~ 20% more on new cars and trucks
~ 29% more on meals at full-service restaurants
~ 100% more on coffee
~ 113% more on wine consumed at home
~ 127% more on maintenance, repairs, and home insurance
~ 258% more on owned vacation homes
~ 250 to 500% more on housekeeping and yard services
In fact, according to J.D. Power & Associates, customers over age 50 make up 62.5% of annual new vehicle sales. Boomers buy more new cars and spend more on the each car; the Consumer Expenditure Survey from the Bureau of Labor Statistics reports that consumers 50 years and older spent $87 billion on cars in 2009, compared to just $70 billion collectively spent by all younger generations.