3 – PRIME-TIME AND BABY BOOMER WOMEN

3 – PRIME-TIME AND BABY BOOMER WOMEN

3 – PRIME-TIME AND BABY BOOMER WOMEN

1. Baby boomers are the largest and wealthiest demographic group in America, and will continue to dominate the consumer spending landscape for year to come.

2. The majority of this spending power is and will continue to be wielded by women ages 50-75.

3. These are the healthiest, wealthiest, most educated, active, and influential generation of women in history.

4. They are, and will continue to be, the prime target for most marketers.

Two new books provide the what, why and how for understanding and reaching this influential demographic. They are PrimeTime Women: How to Win the Hearts, Minds, and Business of Boomer Big Spenders (Barletta), and BOOM: Marketing to the Ultimate Power Consumer – the Baby Boomer Woman (Brown, Orsborn).

Barletta delineates the differences between men and women, and between boomer women and younger women. She develops an organized view of “female gender culture,” and designs a marketing model to leverage it in the consumer marketplace.

Brown and Orsborn compile a collection of case studies by guest authors from such companies as Palm, Liz Claiborne, WellPoint, Ford, Garnet Hill, L. L. Bean, Citicorp, Time, Mary Kay and Marriott. They are organized into seven chapters, each meant to fully explore a key characteristic of the baby boomer woman:

* She’s the Sweet Spot (the demographic of choice)

* She’s Complex (there’s no typical specimen)

* She’s Her (Life)Stage, Not Her Age (leveraging her life transitions)

* She’s Motivated (in a 3-Dimensional view)

* She’s in the Driver’s Seat (she’ll problem-solve her own way through)

* She’s Changing Channels (shaping the new brandscape)

* She’s Waiting (the marketer’s call to action)

SEVEN THINGS EVERY SMART BUSINESS NEEDS TO KNOW ABOUT BOOMER WOMEN

1. In the next decade, women will control two-thirds of the consumer wealth in the United States.

2. Many Boomer women are well established in their careers and at the peak of their earning potential.

3. Within the next decade, many Boomer women will not only continue to earn income but will also be managing inheritance windfalls from their parents and their husbands.

4. Even in traditionally “male” product categories, women are responsible for more than half the purchases.

5. In 2004, women age 35 to 54 represented the highest proportion of Web surfers, compared with both male Boomers and all members of younger generations.

6. Companies owned by women account for 30% of America’s small businesses – 6.7 million strong and counting.

7. Almost seven in 10 women over age 35 – about 68% – say that the older they get, the more they enjoy trying new things.

FOUR FACTS TO REMEMBER WHEN TARGETING THE BOOMER WOMAN

1. She is loyal to companies, not brands.

2. She is technologically savvy.

3. She still feels young.

4. She wants to be empowered.

Copyright FutureScan Sep 2007

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