GET READY FOR ARETHINK
You don’t have to dig much to find some very compelling data about this fairly ignored demographic, such as; women between 45 and 60 spend the most on face creams and 58% of travel spend is by over 50s, with over 80% when it comes to luxury travel!
what does the data show us?
Maybe it’s because I turn 50 myself this year, or maybe it’s just because I’ve just started making more time to read more in my industry.
Whatever the case, the fact is, it seems to me that the over 50’s market and particularly the over 50’s female market has long been neglected. But now brands appear to be noticing and paying attention – and for good reason!
Women over 50 account for 27% of all consumer spending
Did you know:
- Forbes cites data from the U.S. Government Consumer Expenditure Survey and Nielsen which shows 50-plus women are the largest demographic with incomes over $100,000.
- Women over 50 account for 27 percent of all consumer spending — that’s 3 percent more than men of that age.
- Forbes has called women over 50 “super consumers,” because, with “over $15 trillion in purchasing power.
- Women over 50 are the healthiest, wealthiest and most active generation in history.
- These women also control 95 percent of household purchasing decisions and 80 percent of luxury travel purchases.
- 75 percent of women this age say they’re willing to pay a bit extra for quality and convenience.
- The same data shows that 82 percent of women in this demo are open to new brands.
Over the last few years more brands have started to include older women, and it feels this could be gaining momentum as marketers recognise this generation is modern, happy, confident and has disposable income ready to spend.
Hollywood still swings a lot of influence as a trend setting stage for the rest of the world, like it or not, imo. So which actresses are over 50? At this point I am tempted to say ‘… over 50 and still got it’ or ‘..over 50 and still sexy…’ and other such catchy lines, BUT THIS IS THE POINT why are we so consumed in only applauding older women IF they still LOOK like they are 10 years younger?
This is one of the things I have always adored about Jamie Lee Curtis and I’m also loving about Jodie Foster, after not seeing her for years on screen the roles she came back into were women being there age. Foster is 59 as of this article and Curtis is 63, I love these women NOT because…. ‘oh they look so much younger..’ no I adore them because they are unashamedly being their age, whatever that means for them, I mean why should be feel ‘ashamed’ to be our age?
Okay so don’t get me wrong here, by this I don’t mean stop looking after yourself, or stop still wistfully wishing you had less wrinkles, or boobs that still stood up. Today I believe it is more about wanting to remain ‘youthful’ by way of being fit and healthy, and modern and daring, and playful, and ambitious… and all of this is so much more fulfilling and genuine without the horrible insecurities of actually being young, and in-experienced… yep give me those wrinkles and saggy boobs at 35 for the wisdom and knowledge and experience I have today as I am about to turn 50.
Now, where was I? Yes Hollywood!
- Nicole Kidman, 53
- Helena Bonham Carter, 54
- Halle Berry, 54
- Salma Hayek, 54
- Viola Davis, 55
- Sarah Jessica Parker, 55
- Queen Latifah, 50
- Lucy Liu, 52
- Sandra Bullock, 56
Wow I could go on and on and I’ve not even touched on the women in their 60’s like Emma Thompson, Michelle Pfeiffer, Sharon Stone, Ellen DeGeneres!
OVER 50’S WOMEN:
GEN X – BOOMERS – TRADITIONALISTS
- ^Gen Z: Born 1996 - 2015
- ^Millennials: Born 1977-1955
- ^Generation X: Born 1965 - 1976
- ^Baby Boomers: Born 1946 - 1964
- ^Traditionalists: Born 1945 & Before
FINAL THOUGHTS – WHAT NOW?
This is the future that marketers and brands need to evolve into.
That older woman should be included as part of marketing campaigns in the same way that all demographics of humanity should be represented. Of course still with a leaning to the niche consumer for that product.
Seeing gender neutral models, grey hair and wrinkles, all shades of skin tones, slim and fuller figured women.
Humanity is amazing and fascinating, we all want to see ourselves reflected in the world around us, so everyone in roles where we have influence in diversity we have a responsibility to question, and to contribute to a better future.
FURTHER READING ABOUT MARKETING TO WOMEN OVER 50
I found some really great articles on this subject:
During my research for this blog I came across this website: weareageist.com, I had to mention it because it has such a positive approach, it’s not about being older, it’s simply life with inspirational people who happen to be older.
Ad week have this article that I found very insightful too; Women over 50 are often disregarded my marketers, here’s why that needs to end now. You can read it HERE
and Talk to me, the trap brands all into marketing to boomer women, here Fletcher night site some examples of campaigns. They also have some other really great articles on this topic.they site some of successful campaigns. Take a look HERE
And Warc had a great article, marketing to over 50’s, understand and respect your audience which you can read HERE