Ilgin Ivy Chan, PhD’s Post

Women over 40 are undeniably the new powerhouses in the consumer market. Ignoring this demographic is proving to be a costly mistake for brands, with trillions in revenue being left untapped. Julie Alvin's recent article sheds light on this issue, revealing both fascinating insights and disappointing oversights. The notion that forty is synonymous with youth challenges conventional beliefs about age and longevity. It's high time for brands and individuals alike to eradicate age biases and embrace the potential of this vibrant demographic. As Julie aptly concludes, "Convince me what you're selling. I'm open to it." The purchasing power of women in this age group is significant and should not be overlooked. #WomenOver40 #ConsumerMarket #AgeInclusivity #PurchasingPower

Did you know that women drive 70-80% of all consumer purchasing, and those over 50 wield $15 trillion in spending power, representing 27% of all U.S. consumer spending? 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. Consumer brands are Leaving trillions of dollars behind by not selling to women over 40.

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.

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

40+ women are a powerhouse in consumer spending, driving trillions of dollars, yet marketing and media predominantly target the 18-34 demographic. It's crucial for Brands to shift focus and include 40+ women in marketing campaigns. Embracing this demographic is key for Brands seeking growth. #Marketing #brandstrategy #branding

...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.

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

Well worth getting this webinar in your diary if you are in Marketing, Category and Insights. Get insight from the specialist in this area and illuminate how to better target this key shopper group!

The Year of the Girl continues! Yelp's She-conomy Trend Report finds women drove economic growth and led major consumer trends in 2023. Women not only opened more businesses in 2023 (up 17% compared to 2022) but female home service pros grew their market share in traditionally male-dominated industries. Plus, women led a resurgence in reading, owned the self-care space, created microtrends in fashion (quiet luxury, coastal grandmother, etc), and even elevated the NFL. It's especially encouraging to see that Yelp users increasingly searched for women-owned businesses across a range of categories, like fashion, skincare, etc. Read more at https://lnkd.in/eTg_Npfu Tara Lewis, Brenae Leary, Brenna Falvey

🌬 I'm still blown away by how many brands are sleeping on the goldmine that is midlife women. Our latest data reveals that these ladies, often ignored for younger tribes, are economic powerhouses and major influencers. Here's what we know.. ➡ First off, these ladies are a force to be reckoned with. There are millions of them in the UK, and they're only getting bigger in number. Plus, they've got some serious cash to splash. They control nearly half of the UK's wealth, and their spending power is way more than millennials. They're the ones making most of the household purchasing decisions, from groceries to vacations to major investments. Talk about power! ➡ But here's the thing: despite their economic clout, midlife women feel overlooked and underrepresented. They rarely see themselves reflected in advertising campaigns, and they're hungry for brands that authentically portray women "who look like them." They're more likely to influence others' spending habits in beauty, grooming, and health products. That's a major opportunity for businesses that want to tap into this market. ➡So, what's the takeaway? Ignoring midlife women is leaving money on the table. By tailoring your marketing efforts to resonate with this group, you can unlock a vast market, foster brand loyalty, and drive sales growth. Just make sure your marketing materials feature diverse portrayals of midlife women, craft messaging that addresses their unique challenges and opportunities, and reach them across various platforms. Bottom line: midlife women are superconsumers with enormous untapped potential. Embrace them, understand their needs, and tailor your marketing approach accordingly. If you want to find out more.. join me at our next webinar https://lnkd.in/dyEgpDFf #midlife women #marketing