Home > All articles Twelve More Things You May Not Know About Boomer Women Marketers across a broad range of industries have figured out that women influence 80 percent of consumer purchases. Not only that, but they constitute the majority of the largest generational cohort in history—rich in numbers, purchasing power and potential. But what else does the savvy marketer need to know about this woman and her generation if they hope to succeed with her? Given the growing explosion of interest in marketing to the Baby Boomer woman, intelligence about her is more often than not “hot off the press.” In fact, the best is yet to come this fall with the combined release of Imago Creative’s book BOOM: Marketing to the Ultimate Power Consumer—The Baby Boomer Woman (including 40 case histories of top marketers) and Focalyst/AARP’s report on their study of 35,000 Boomers. In the meanwhile, here’s a first look at twelve tips gleaned from the overwhelmingly hot topic of marketing to Boomer women discussed at the recent Beyond the Numbers: The Boomer Marketing Summit, in Miami.   Financial Attitudes 1. While Boomer women have greater discretionary income than any generation in U.S. history, they are more worried about their financial health than those who are already 60+. Additionally, amongst this group, the majority believes they are “destined to go broke.” John Erickson, CEO, Founder of Erickson Retirement Communities, claims that 65 percent of Middle Americans approaching age 62 actually have enough to live well (if modestly) for the rest of their lives. 2. On a related theme, according to Deborah Natansohn, President of Seabourn Cruises, with all the talk of Boomers inheriting wealth, in reality the average American may inherit only 25-50K—not the millions they wish they’d be getting. Changing with the Times 3. AARP is rapidly becoming an organization of Boomers. With 11.5 million Boomer members, it is already the largest Boomer organization in the world. Two out of three first-term members are Boomers. If you haven’t looked at their magazine recently, you’ll be surprised and inspired by how they’re staying relevant for those over 50. For starters, how about the revealing cover portrait of Paul McCartney at 64—with every hard-earned wrinkle proudly highlighted? 4. Forget about the notion that Baby Boomers have long-established their brand preferences. According to Focalyst, 57 percent of consumers 42 to 59 enjoy experimenting with new brands, even consider it to be something of a “competitive sport!” Focalyst also reports that nearly half of Boomers feel that today’s ads geared to their generation are insulting and condescending. 5. Chuck Hurst, Research Director for JWT Mature Market Group, reveals that in a study of 25 to 75 year olds, those 50 to 54 experienced more life changing events and transitions in the past five years than any other age group. Luxury and Travel 6. At this stage in their lives, Boomers are interested in experiences, not things for the sake of having things. It’s no wonder that Baby Boomers, especially women, lead in experiential luxury spending. Witness the success of the Right Hand Ring campaign, driving diamond ring sales by women (mostly Boomers, at that) embracing the ad’s cry, “Your right hand is a declaration of independence; your right hand lives for the moment; your right hand will surprise you: Women of the world, raise your right hand.” 7. More magazine disclosed that in their recent study, women 40 to 59 spend more than women 21 to 39 on perfume, computers, jewelry and watches, home improvement and luxury autos. In fact, Boomer women spend three times more on luxury autos than her younger cohort. 8. Be wary of pushing the Boomer woman to “join” your community, says Kathy Dragon, President of Active Women, an organization that takes women (the majority whom are Boomers) on adventure travel trips. “She likes to think she’s already in a community,” Dragon adds. Rather, invite her be a part of a great experience. Let her discover your new community as a side-product of her involvement. By the way, forget the popularly-quoted statistic that the average adventure traveler is a 47 year old woman. She’s actually 54! Think on This 9. The majority of middle-aged Boomer women have more parents than children. Many of them have had more husbands than children. 10. Half of the approximately 70 million grandparents in the U.S. are Baby Boomers. Fifty percent of these have five or more grandkids. 11. Older women with daughters are statistically shown to out-live older women who only have sons. 12. Finally, according to Mike Sullivan, President of 50+ Communications, when trying to sell something to a Boomer woman, remember: she's always going to think she's smarter than you. by Carol Orsborn & Mary Brown, Imago Creative   By by Carol Orsborn & Mary Brown Date 01-05-2006 Print this article | Send to a friend | React to this article