Marketing to Baby Boomer Women

Companies that want to improve sales in the future should pay special attention to the spending habits of Baby Boomer women.

Recent US research shows women born between 1946 and 1964 are becoming power consumers. Female buying power in the US is worth $US1.7 trillion per year and by 2016 women will control two thirds of consumer wealth in the US economy. Baby Boomer women are the fastest growing segment of America’s female population.

Australian women make up 51 per cent of all professionals. With more established careers than younger generations, many mature female professionals are now at the peak of their earning power, plus many are inheriting windfalls from parents and others.

In many cases their children have left home so Baby Boomer women now have the time, energy and often the funds to think about their own aspirations. That spells good news for businesses that make the effort to meet their needs.

Success stories from Marriott Hotels, Ford Motor Company, Time Inc and others suggest wooing Baby Boomer females can be lucrative. So what are the implications for your company?

Firstly be alert to signs that this trend is showing up in your market. And, recent US experience suggests that that to gain leverage with the Boomer female market, you should consider:

• Providing Baby Boomer women with uncomplicated and convenient products because these women are still leading hyper-speed lives.
• Seeking their feedback to customise products and services.
• Providing information so women can research offers when and how they want to.
• Feeding their attention to detail because they notice quality.
• Satisfying their demand for good service before, during and after a purchase.
• Providing empathetic, knowledgeable salespeople who can humanise the buying experience