“ Older people have an image problem. As a culture, we’re conditioned toward youth. … When we think of youth, we think ‘energetic and colorful’; when we think of middle age or ‘mature,’ we think ‘tired and washed out.’ And when we think of ‘old’ or ‘senior,’ we think either ‘exhausted and gray’ or, more likely, we just don’t think. … The financial numbers are absolutely inarguable — the Mature Market has the money . Yet advertisers remain astonishingly indifferent to them. …” —Marti Barletta, PrimeTime Women
BoomerBucks! Boomer turns 50: every 7 seconds. 2009: majority of U.S. households headed by someone over 50. 2006-2016: U.S. population up 22.9 million; 22.1 million in over-50 group. 2006: 1 in 5 adults is F, over 50. Women between 50-70 who are single: 35%. Age 45-54: highest average income, $59, 021 (national average is $42,209). FASTEST GROWING INCOME CATEGORY: WOMEN, 55-64 (4X men in same category). Women, age 60-64: 50% still in workforce. Highest net worth: families, 55-64 ($182,000). People over 50: 70% to 79% of all financial assets; 80% of all savings accounts; 62% of all large Wall Street asset accounts; 66% of $$ invested in the stock market. Age 50+: 29% of population, 40% of total consumer spending, 50% of discretionary spending. Next 2 decades: BOOMERS WILL INHERIT $14 TRILLION-$25 TRILLION (“largest intergenerational transfer of wealth in history”). —Marti Barletta, PrimeTime Women
“ One particularly puzzling category of youth-obsession is the highly coveted target of men 18-34, and it’s always referred to as ‘highly coveted category.’ Marketers have been distracted by men age 18-34 because they are getting harder to reach. So what? Who wants to reach them? Beyond fast food and beer, they don’t buy much of anything. … The theory is that if you ‘get them while they’re young, they’re yours for life.’ What nonsense !” — Marti Barletta, PrimeTime Women
“ Fifty-four years of age has been the highest cutoff point for any marketing initiative I’ve ever been involved in. Which is pretty weird when you consider age 50 is right about when people who have worked all their lives start to have some money to spend.” —Marti Barletta, PrimeTime Women
55-64 vs 25-34 E.g.: New cars & trucks: 20% more spending. Meals at full-service restaurants: +29%. Airfare: +38%. Sports equipment: +58%. Motorized recreational vehicles: +103%. Wine: 113%. Maintenance, repairs and home insurance: +127%. Vacation homes: +258%. Housekeeping & yard services: +250% to +500%. Source: Marti Barletta, PrimeTime Women
Average # of cars purchased per household, “lifetime”: 13 Average # of cars bought per household after the “head of household” reaches age 50: 7 Source: Marti Barletta, PrimeTime Women
Women Household spending: 80% Investment decisions: 53% Home improvement purchase decisions: 80% New cars: 60%+ Computers: 60% Managers and professionals, overall: 51% New businesses started: 70% * (*Women-owned businesses as a share of all new businesses: Employee growth, 3X; Sales growth, 4X.) Source: Marti Barletta, PrimeTime Women (2007)
How She Does It Margaret Heffernan (January 2007)
“ The growth and success of women-owned businesses is one of the most profound changes taking place in the business world today.” —Margaret Heffernan, How She Does It
U.S. firms owned or controlled by Women: 10.6 million ( 48% of all firms) Growth rate of Women-owned firms vs all firms: 3X Rate of jobs created by Women-owned firms vs all firms: 2X Ratio of total payroll of Women-owned firms vs total for Fortune 500 firms: >1.0 Ratio of likelihood of Women-owned firms staying in business vs all firms: >1.0 Growth rate of Women-owned companies with revenues of >$1,000,000 and >100 employees vs all firms: 2X Source: Margaret Heffernan, How She Does It
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