Boomer women control more than half of the nation’s discretionary income and three fourths of the country’s financial wealth. The youngest of these super consumers are turning 50 this year, and over the next two decades, their ranks will swell with the force of a tsunami. So why do marketers continue to ignore them?
That is the subject of the white paper Boomer Women: The Invisible Goldmine recently released by Girlpower Marketing, a public relations and marketing consultancy that helps brands build relationships with women.
“Today’s Boomer women are vibrant and young. They are much more media savvy and financially independent than their predecessors. Yet 91% percent of Boomer women surveyed feel that marketers do not understand them,” said Linda Landers, founder and CEO of Girlpower Marketing, in a news release. “The primary problem is that marketers believe these consumers are no longer relevant, and are locked into brands that they fell in love with decades ago. That is simply not true. In fact, research shows that these women are just as likely to switch brands as their children.”
In a recent survey conducted by Girlpower Marketing, 53 percent of those Boomer women surveyed said they felt overlooked by product advertising due to their age. In addition, 64.2 percent admitted to saying goodbye to a product because they felt they were being ignored by the brand. Brands that respondents felt have done a good job speaking to them include Eileen Fisher, Dove, L’Oreal, Cadillac, Olay, Amazon, Target and Avon.
In addition to discussing the importance of this demographic, the white paper also provides further details on the survey, and tips on successfully connecting with these power consumers.
“The days of Boomer women being ignored by marketers are numbered,” said Landers. “More than any generation before, these women know their own power and won’t be marketed to in a disingenuous way. Trillions of dollars are at stake as marketers begin to discover the unexpected consumer gold mine that these women are.”
Edited by Richard Carufel