The Marketing Power of Baby Boomer Women
On my birthday, my grandmother sent me a Happy Birthday text message and wrote on my Facebook wall. This woman is 72 years old and is still more on top of her LinkedIn account than I am. These days, women like my grandmother are able to use the Internet, social media, and technology to not only communicate but to shop, browse for recipes and other activities.
Once the children are settling into their own families, and the college loans are all paid off, the spending power of 50+ women skyrockets. They will spend over double what the average person spends. These women are the primary buyers for big-ticket items such as cars, computers and financial services (Marti Barletta of Primetime Women). Also 70% of the time the women decides where the vacation should be spent (Forbes Life Executive Woman).
Women age 50 and older control net worth of $19 trillion and own more than three-fourths of the nation’s financial wealth (MassMutual Financial Group–2007).
The Baby Boomer Generation has more money, leisure time and technology than any other generation. This allows them to travel more than prior generations. While they are on that RV trip, or sitting on the beach sipping a straw stuck in a coconut, Boomers are able to use their smartphones, tablets and computers. This means they are still able to work away from home, and even online shop.