Erika Weiss’ Post

When elder millennial and midlife women are ready to spend—whether on entertainment, tech, beauty, travel, groceries, auto or in areas like early parenthood that used to only be the province of younger women—they show up with influence and money. Women drive 70-80% of all consumer purchasing, either through buying power or influence, and women older than 50 drive $15 trillion in spending power—which is 27% of all consumer spending in the U.S.

Thanks ADWEEK for highlighting how brands are missing this huge opportunity by ignoring older women. While media attention is critical so too is understanding the changing wants and needs of this important demographic. Cultural analysis and consumer insights should lead the exploration for new products and services, messaging and branding. #consumerinsights #marketresearch #proaging #culturalanalysis

When are marketers going to catch on that they're missing the boat when it comes to women 40 plus? While us lady boomers have long been aware that we are not the apple of any media plan's eye, Gen X'ers and Elder Millennials are just coming to the realization that they are no longer prime targets for marketers. Today's women are delaying big life milestones... having a baby, getting married, buying a house... but brands still use outdated demographics to determine where their ad dollars should be spent skewing advertising for related products to groups that are way too young. To our Gen X and Elder Millennial sisters (super flattering name, BTW, right up there with geriatric pregnancy...) do you feel like your spending habits are not reflected in marketing pushes? Article: ADWEEK by Julie Alvin

Agreed! In today's evolving market, brands often overlook the influential demographic of elder millennials and Gen X women. Despite their significant spending power and cultural impact, they remain largely underserved by marketers. By recognizing and respecting this demographic, brands can tap into a vast opportunity for growth and engagement. It's time to embrace inclusivity and authenticity in marketing campaigns, acknowledging the value and influence of these often overlooked consumers. #marketing #branding #advertising

S/O to Whitney Alexander's Substack for this fantastic ADWEEK spotlight. As a 40+ woman, I am definitely feeling the lack of focus by most consumer brands, ironically, when I'm the most willing (and able) to spend more for quality. Only 5-10% of marketing budgets are earmarked for an over-50 audience, BUT: 💰 Women drive 70-80% of all consumer purchasing, either through buying power or influence  💸 And women older than 50 drive $15 trillion in spending power—which is 27% of all consumer spending in the U.S. 🤑 By 2030, women are expected to control much of the $30 trillion in wealth that is soon to transfer from baby boomers to younger generations—namely millennials, who will all be in their mid-30s to late-40s by then [GASP]. The article lists General Motors, Buick and L'Oréal as exceptions, who else do you think is doing a good job at this? https://lnkd.in/ee_ssgGD

Monday Morsel: The 50+ demographic contributes to almost half of consumer spending in the U.S. (source: Visa Consulting & Analytics). Can we apply this insight to Australia and New Zealand? Considering the growth of the 40+ women market, it presents a significant opportunity for marketing efforts. This emerging segment has the potential to extend brand influence beyond current audiences, fuel creativity in product advancement, and reveal untapped avenues for expansion. What are some questions that you might have when considering how to seize this opportunity? #thestellacollective #womenover40 #blindspotnomore #superconsumers -

🤔 REAL TALK: Gen Z, Gen Alpha. Brands spend a lot of time and money on strategies to skew younger and attract Gen Z and Gen Alpha audiences. But, what if they’re going the wrong way?     I loved this article by ADWEEK and Julie Alvin that dives into how brands are missing out on 💵 💵 💵 by overlooking women 40+, who control 70-80% of all consumer purchases with $15 trillion in U.S. spending power. Despite this, less than 10% of marketing budgets target this demographic. “But what if brands rethought their approach (or lack of approach) to these audiences? What if they examined the fallacy that elder millennial and Gen X women have limited influence, unremarkable spending power, and entrenched brand preferences and, therefore, are no longer worth marketing to—and instead realized that we are among the most valuable audiences out there? These women are entering key spending categories later in life. They are extremely influential culturally and financially, and they are largely ignored by marketers—leaving a huge opportunity for the consumer brands that are smart enough to pay attention to them.” What do you think? Tag any brands that you think are doing a good job with this group in the comments – I’d love to know!     #millennial #marketing #PR

Consumer Brands Are Leaving Trillions of Dollars Behind by Ignoring Women Over 40 I knew I wasn't alone on this. After turning 40 (many moons ago), I fell into a consumer brand 🕳 void. And even now, in my 50's it's become darker with a little glimmer of hope in sight. Not creating products to the largest consumer force is a BIG mistake for brands. Let's not forget these facts the author highlights in the article below: 💃 Women drive 70-80% of all consumer purchasing, either through buying power or influence 💃 Women older than 50 drive $15 trillion in spending power—which is 27% of all consumer spending in the U.S. 💃 By 2030, women are expected to control much of the $30 trillion in wealth that is soon to transfer from baby boomers to younger generations—namely millennials, who will all be in their mid-30s to late-40s by then. And let's not forget the sudden boom in conversation on social media about the Big M. There are over 40 million women in the U.S. that are on their perimenopausal and menopausal journey all struggling with skin irritations, hair loss, bloating, sore aches & sleepless nights. A few consumer based businesses are addressing the pain points 40+ women are experiencing, like Bobbi Brown's Jones Road. She specifically says in her ads that she wanted to create a make-up brand for women like her with drier skin and fine lines. Or actress Naomi Watts who is a big spokesperson for understanding menopause has launched Stripes, her own body care and intimacy products. So if anyone is listening - I love to wear cashmere sweaters but have stopped wearing them because my body temperature is about 400-degrees 😥 higher than it was in my 30's. Can you make a lighter weight cashmere for us 50+? ➡ Where do you see opportunity for your business to recognize this consumer group more exclusively with your product assortment? https://lnkd.in/gsaiMDgX #midlifewomen #menopause #womeninbusiness #womeninmidlife

Today’s Rascal Report: Women over 50 were invisible in pop culture, now they’re not; marketing to baby boomers: what mature consumers want in 2024; we’re not asking the most important questions about age; an aging population is transforming Vermont’s schools, workplaces and communities; boomers aren’t going to crash the housing market, they’re powering it; and more… #millenials #advertising #marketingandadvertising https://lnkd.in/gu8p7Zk3

“When you turn 40 (which I recently did), you fall off of marketers’ radars and media plans entirely…” This piece in ADWEEK obviously resonated with me, “Consumer Brands Are Leaving Trillions of Dollars Behind by Ignoring Women Over 40.” It was incredibly well written by Julie Alvin who describes how she became a first-time car owner, homeowner and parent in a three-month timeframe. She notes how she was surprised by how much there was to buy to support her drastic lifestyle shift. However, she felt that all the brands that should have been competing for her dollars, didn’t seem to care about winning her business. “What if they (brands) examined the fallacy that elder millennial and Gen X women have limited influence, unremarkable spending power, and entrenched brand preferences and, therefore, are no longer worth marketing to—and instead realized that we are among the most valuable audiences out there?” Hello! Here are some important stats from the article as to why this matters: 📍 In 1980, the average woman married at 22; today, it’s 28. 📍 The midlife first marriage rate among women has increased by 75% since 1990. 📍 In 1980, the median first-time homeowner was 29; now they are 35. 📍 In the last 30 years, birthrates among women in their 20s have declined. 📍 During that same time, birthrates have risen for women in their late 30s and early 40s—a trend that is especially prevalent among college-educated, city-dwelling women with high household incomes All of the above leads to this point, “The idea that you have to reach women in their 20s in order to capture their entry into new life stages—and therefore their influence in new spending categories—IS A DATED ONE.” It sure is! As a woman who turned 50 last year and has been paying attention to how brands are marketing themselves to me, and women in my age group, I can tell you firsthand, they don’t think we matter. However, as Julie points out “…women older than 50 drive $15 trillion in spending power—which is 27% of all consumer spending in the U.S. By 2030, women are expected to control much of the $30 trillion in wealth that is soon to transfer from baby boomers…” It’s time to start paying attention to us. Thank you Debbie Benadiba for highlighting this important piece! Thoughts? Share below! Link to the full article in comments. #robynsthoughts #womenover40 #marketing