Boomer Women and the U.S. Economy
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 Boomer Women: The Invisible Goldmine released today by Girlpower Marketing.
Download the free white paper here.
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 ignore or don’t understand them.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 of Boomer women conducted by Girlpower Marketing, 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.
The days of Boomer women being ignored by marketers are numbered. 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.