Grace Creative LA’s Post

Brand marketers, listen up..... you're missing out if you're ignoring women 40+ in your marketing: "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." #fractionalCMO #brandmarketing

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 -

Who's going to get Rich? There’s a very significant difference in the expectations of getting richer in 2024. About half (52%) of the surveyed Baby Boomers think their assets will grow, compared to Gen X (56%), Millennials, (69%), and Gen Z (75%). There’s also a noticeable gender difference. Men tend to be more optimistic than women, with one glaring exception. A staggering 81% of the surveyed high net worth Gen Z women expect to make hay this year, making them the most optimistic of all the groups.

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

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

What is Generation Z and what makes them different? This article from McKinsey & Company explains who Generation Z is, what makes them tick and how they differ from Millennials. It also looks at the values of Gen Z, how they perceive the world of work, what fashion they like and of course what they want as customers. An interesting read that I would recommend to everyone: https://lnkd.in/dg4-rBtS

“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

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

Did you know that 89% of people are more interested in working with or buying from me than you? By doing more good, I not only feel better but also attract more customers, leading to business growth. It's a win-win situation! This transcript highlights the power of supporting social and environmental issues, especially among millennials. 91% of millennials have a more positive image, 87% are more likely to trust a company, and 87% are more loyal to the company. And when it comes to millennial females, the numbers are even higher at 95%, 92%, and 91%. These statistics are too compelling to ignore. Let's embrace the idea of doing good and watch our businesses thrive! #DoingGood #BusinessGrowth #Millennials #SocialResponsibility