The Economic Power of Older Women

When I was leaving my corporate career, I began to search for information targeted to women in my age group and similar situations. Much to my surprise, I couldn’t find the depth or quality resources, books, and articles I had expected to find.

As I began developing my social media platforms, I searched for hashtags targeted to my age group, and once again, I found both quality and quantity needing improvement. I got my first casting request from an agency that found me from the hashtag #gray hair. I began to study the overall marketing for older, mature women. How little agencies, corporations, and businesses targeted our demographic shocked me. What I did discover was they marketed to the stereotypes of older women, not to the reality of today’s aging woman.

Let’s face it: marketing targets younger audiences, teenagers, mothers, and younger workers. We see it every day in marketing campaigns around the world.

I researched the issue deeper (I research to avoid writing and hitting the launch button!) I want to bring the following research highlights to my readers’ and global marketing firms’ attention. If you are an older woman, expect more of the companies where you spend your money. You should expect and demand more authenticity to win over your cash. When you find a company that respects today’s older women’s needs, concerns, and issues, honor them with your loyal business.

Marketers take note of the data about this growing and affluent demographic. If you aren’t marketing authentically to older women, you miss out on a goldmine.

I’ve included highlights from my research below.

In the comments section, give me some examples of where you’ve felt overlooked by companies because of your age and examples of where you’ve been supposed to be welcomed, honored, and included.

Where have you felt you were excluded because of your age?

We are a powerful force in today’s world. Let’s leverage our power to be a strength for good.

In the evolving marketplace, one demographic holds immense economic potential yet is often overlooked by marketers – aging women. Growing rapidly and wielding significant financial influence, this group deserves attention through targeted, authentic marketing strategies.

Demographic Overview:

• The global over-60 female population is expected to reach 1.2 billion by 2025, marking it a formidable economic force.
• This demographic boasts a combined net worth of $19 trillion in the U.S., underlining their substantial economic influence and purchasing power.
• Aging women invest in health and wellness products and services, presenting a lucrative market for businesses catering to these needs.
• Contrary to stereotypes, many over-60 women are adept with technology, making digital marketing and e-commerce effective strategies.
• With more time and resources, this group actively seeks products and services related to hobbies, travel, and leisure activities.
• Their active participation in social and community activities offers opportunities for brands to build community-centric marketing.
• Authentic, diverse representation in marketing resonates with this demographic, fostering strong customer relationships.

Harnessing the Economic Potential:

• Women aged 65+ had a median income of $47,244 in 2019 (National Institute on Aging).
• Americans over 60 have an estimated spending power of $4.6 trillion (AARP, 2021).
• The over-60 market accounts for nearly 60% of U.S. consumer spending (Harvard Business Review).
• Women over 50 control $19 trillion in net worth (Harvard Business Review).

Meeting Expectations: To engage this demographic, marketers must:

• Acknowledge their consumer significance.
• Offer products and services tailored to their interests.
• Communicate respectfully and authentically.
• Provide excellent customer service, including user-friendly digital platforms.

Strategies for Engaging Mature Women:

• Health and Wellness: Market products supporting healthy aging.
• Financial Security: Offer services addressing retirement and financial stability.
• Social Connections: Promote community-focused events and activities.

Innovative Marketing Approaches:

• Digital Marketing: Utilize targeted online campaigns.
• In-Person Events: Host events catering to their preferences.
• Collaborations: Partner with brands that resonate with this demographic.

Economic Impact of Targeting Aging Women:

• Market Growth: The over-60 female demographic is rapidly expanding, doubling by 2050 (United Nations).
• Market Influence: They significantly influence household purchasing decisions and market trends.

Marketers should recognize the over-60 female demographic as a vital market segment they should tap into.

Businesses can tap into their significant economic potential and foster long-lasting relationships by understanding and catering to their unique needs and preferences. Embracing this demographic makes good business sense and promotes inclusivity and diversity in marketing.

Sidebar:

The Advantage of Partnering with Mary Harvey Gurley:

In the quest to authentically connect with the older female demographic, partnering with Mary Harvey Gurley offers a unique and invaluable opportunity.

Mary embodies this demographic – a vibrant, insightful, and engaged influencer who resonates deeply with aging women. Her established platform and credibility are about reaching an audience and engaging with a community that trusts her voice and perspective.

Mary’s ability to authentically communicate and connect with this demographic goes beyond mere marketing; it’s about creating meaningful, lasting relationships.

Her insights into the needs and preferences of aging women, and her experience in cooking, gardening, health, wellness, and lifestyle make her an ideal representative for brands looking to make a real impact in this market.

By collaborating with Mary, brands gain access to a powerful conduit to this influential group, ensuring that their products and services are seen and embraced as part of a lifestyle that values quality, authenticity, and relevance.