Over the last several weeks, the mainstream media has made headline news out of the fact that the ailing economy has made women 50+ an increasingly attractive target for marketers.
The first wave began just after New Year’s with a story in the Wall Street Journal announcing that women at midlife and beyond have emerged as the last consumer segment with discretionary income to spend on clothing.
The second wave began last week, with the debut of the Silver Summit at the Consumer Electronics Show. Starting with a front-page business story in USA Today, reporters broke the news that the 50+ crowd is the industry’s greatest hope for the future.
This is cause for celebration–and for caution. Celebration, because women 50+ are finally on the marketer’s radar, getting the attention and respect we deserve. Caution, because at the exact moment that marketers are hoping to harness the spending habits of this newly discovered consumer, she has shifted gears.
It continues to be true that the Vibrant Nation demographic is still the best bet for finding a consumer with discretionary money. The irony for marketers is that this prized niche of upscale and affluent women 50+ have chosen this moment in history to search their souls regarding what really matters.
The shift could be virtually instantaneous, because this is nothing new for this consumer segment. Back in the late 1980’s, I started an organization called “Superwomen’s Anonymous,” which was a precursor to the voluntary simplicity movement. Back then, I wrote a book titled Enough is Enough: Exploding the Myth of Having it All, bringing my message of values over materialism to receptive ears. I went on Oprah and The Today Show, amongst others, and was part of a movement that grew through the remainder of the 80’s and 90’s, sweeping such titles as Elaine St. James’ Simplify Your Life, Sarah Ban Breathnach’s Simple Abundance and Vicki Robin’s Your Money of Your Life onto best-seller lists. The magazine Real Simple is the latest fruit to sprout from this family tree.
Some younger marketers who are eyeing the material wealth this generation accumulated in abundant times may be caught off-guard by how quickly women 50+ revert back to our simplicity roots. However, they need not be unduly alarmed. The simplicity movement was never about sacrifice–only about freedom of choice: owning just what you need, trading income for time and meaning, wasting as little as possible, valuing and enjoying experience over acquisition.
These have always been the keys to unlocking the Boomer woman’s pocketbook, simply made all the more urgent by these challenging times. Give us something of genuine value, convince us it is something we need, relate it to meaning and present it as an experience rather than as something more to buy, and we’ll be yours!
ReginaLove, that is SO great to hear! As for soy, it may help with menopause symptoms -- it it controversial. The best way to use soy is in the form of whole fermented soy foods (miso, tempeh, tamari and natto). Non-fermented soy foods such as soy mi
Agreed. I never thought I was vain until I had a mastectomy at age 39. I was devastated and told the doc I wanted to wake up with implants. Now at age 60, I am lopsided and wondering if I was just avoiding the inevitable. You get what you get and you
Sounds very interesting.
Spike, you are awesome! Love your perspective, thanks for sharing.
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