EXCELLENCE.
ALWAYS.
WOMEN.
BOOMERS.
GEEZERS.
OPPORTUNITY.
$$$$$$$$$$$.
ENORMOUS.
Tom Peters/11.02.2006/Version.153
not.
Yet.
Done.
women.
BOOMERS.
GEEZERS.
women
BOOMERS
Amazon Reviewer: “‘Trends’ [TPMB book] is old news!” (1 of 5
stars)
TP:
“Repeating it doesn’t make it
It ain’t old if it
hasn’t been
implemented!”
‘old.’
What the hell
do I have to
do to make
my point?
Tom Peters/10.10.2006
The Copenhagen (Self) Pact re “This Topic”:
*Early!
*Loud!
*Repetitive!
*Aggressive!
*Unfriendly!/rude!/
insulting!
women
BOOMERS
women.
“Forget China,
India and the
Internet: Economic
Growth Is Driven
by
Women.”
—Headline,
Economist, April 15, 2006, Leader, page 14
Women’s Trifecta+
*Buy
*Wealth
*Lead
+ECLIPSE
OF MALES
(Old/Retire; Young/Poorly educated)
Women’s Trifecta+
*Buy/all
*Wealth/all
*Lead/ better
+Eclipse of males/whoops
(Retire-old/Poorly educated-young)
1. Women’s CONSUMER GOODS purchases.
2. Women’s COMMERCIAL GOODS purchases.
3. WOMEN ARE THE MARKET. Not an “initiative.”
4. Women-owned BUSINESSES (absolute #s,
acceleration, relative growth).
5. Women’s “brand” of LEADERSHIP SKILLS.
6. women’s strengths match needs of the new
“value-added ladder.”
7. Women’s DRAMATICALLY INCREASING-commanding
WEALTH—absolute, relative. (Jobs. Longevity.
Education. Entrepreneurial. Decline of BOYS. Retirement of
MEN/Senior MEN.)
8. DEMOGRAPHIC TSUNAMI. WOMEN. Women as
solo HEADs-OF-HOUSEHOLD. THE WOMaNBOOMER-GEEZER. LOoooNG-TERM PHENOMENON.
Global phenomenon.
9. SPEED of “change.” mother of all “megatrends.”
1. Participation rate/2 of 3 new jobs, last
30 years.
2. Male workforce departures/SENIOR male
workforce departures.
3. Shrinking pay gap/same jobs.
4. More senior positions. Greater decisionmaking/expenditure/org design authority.
More line jobs.
5. Female solo head-of-household growing.
6. Longevity.
7. Education.
8. More effective money management.
Not. Yet. Done.*
Loyalty programs: M F “Difference” = Yawning gap (173+ degrees)
Forced to do it: e.g., a division aimed at Boomer Women … Exclusively.
Just say no to “trickle up”: Why have the 5% chase the 95%?)
Men think they’re doing their share (helping, sure, but the buck stops
with her); busy, busy, busy—think Jim’s Group)
New forms of living together, playing together as aging proceeds
(“commune”, Beacon Hill Assn, telemedicine, etc, etc, etc.)
“Grab ’em early & keep ’em”: Total Unmitigated Crap
(TP: 100% brand switch. 100%.)
“They didn’t take it seriously” —German bank exec, Bonn, F
This is not a $%^&ing “program.” This is “NEW Life 101.” This
is Soooo Big it Staggers the Imagination. (Will be paramount
“trend” for 20 years.)
*The Copenhagen Pact
women
BOOMERS
Boomers.
geezers.
Boomers’-Geezers’ Trifecta
*Buy/all
*Wealth/all
*time left/ lots
Boomers’-Geezers’-Women’s Trifecta+
*Buy/all
*Wealth/all
*time left/ lots
*Eclipse of males/retire-die
not.
Yet.
Done.
Just Say “No” (!):
Launch an
“Initiative.”
Objections
Don’t believe the DATA
Don’t believe the ENORMITY of the opportunity
Don’t believe the UBIQUITY of the opportunity
Think they “GET IT”
See it as an “Initiative”
Flies in the face of CONVENTIONAL MARKETING WISDOM
Don’t see it as … THE ESSENCE OF STRATEGIC POSITIONING
Fail to understand-TAKE FULL ADVANTAGE “Everything must be
changed” (It’s a “Culture” issue)
Look at it analytically; miss the need for OBSESSION
Subconsciously threatened!!??
Occasion to make JOKES
You either believe
“all this.”
Or don’t.*
*No middle ground at the level of Extreme Commitment I’m suggesting
Don’t “get it”
= Stupid*
*and you are not stupid
E-nor-mous
Strat-eg-ic
opp-or-tun
EXCELLENCE.
NEW MARKETS.
ENORMOUS.
OPPORTUNITIES.
women
BOOMERS
EXCELLENCE.
OPPORTUNITY.
ENORMOUS.
WOMEN.
“Idiot” is
too kind a
word.
“That’s a very
diverse* team.”
—Patrick Cescau, CEO, Unilever**
*1 of 14 Board of Directors members is a woman
(not an exec); 2 of 7 Exec Team members
are … Indians. (Source: FT/24-25 June.)
**Approximately
85%
products are purchased by … women.
of Unilever’s
“That’s a
VERY
diverse team.”
—Patrick Cescau, CEO, Unilever* **
*1 of 14 Board of Directors members is a woman
(not an exec); 2 of 7 Exec Team members
are … Indians. (Source: FT/24-25 June.)
**Approximately 85% of Unilever’s products
are purchased by … women.
“That’s a
VERY
man.”
—Tom Peters
sick
“Idiots” is
too kind a
word.
????????
Weenie of the
year, 2006 …
????????
EXCELLENCE.
FOUND.
DUH.
“To be a leader in
consumer products,
it’s critical to have
leaders who
represent the
population we serve.”
—Steve Reinemund/PepsiCo
“EXCELLENCE.”
AARGH.
200
Good Thinking, Guys!
“Kodak Sharpens Digital Focus
On Its Best Customers:
Women”
—Page 1 Headline/WSJ/0705
EXCELLENCE.
OPPORTUNITY.
ENORMOUS.
WOMEN.
Just Say No.
“Women are
the majority
market”
—Fara Warner/The Power of the Purse
?????????
Home Furnishings … 94%
Vacations … 92% (Adventure Travel … 70%/ $55B travel equipment)
Houses … 91%
D.I.Y. (major “home projects”) … 80%
Consumer Electronics … 51% (66% home computers)
Cars … 68% (90%)
All consumer purchases … 83%
Bank Account … 89%
Household investment decisions … 67%
Small business loans/biz starts … 70%
Health Care … 80%
Women
Household spending: 80%
Investment decisions: 53%
Home improvement purchase decisions: 80%
New cars: 60%+
Computers: 60%
Managers and professionals, overall: 51%
New businesses started: 70%* (*Women-owned
businesses as a share of all new businesses: Employee
growth, 3X; Sales growth, 4X.)
Source: Marti Barletta, PrimeTime Women (2007)
USA/F.Stats: Short ’n (Very) Sweet
>50% of stock ownership, $13T total wealth (2X in 15 years)
>$7T consumer & biz spending (>50% GDP; > Japan GDP);
>80% consumer spdg (Consumer = 70% all spdg)
57% BA degrees (2002); = ed & social strata, no wage gap
60% Internet users; >50% primary users of
electronic equipment
>50% biz trips
WimBiz: Employees > F500; 10M+: 33% all US Biz
Pay from 62% in 1980 to 80% today; equal if education,
social status, etc are equal
60% work; 46M (divorced, widowed, never married)
Source: Fara Warner, The
Power of the Purse
Women > 50% of Household Income in >50% of households.
In 48% of the 55% of households/married couples, women
provide >50% of income. 27% of households are headed by
a single female. 75% of married female execs with the rank
of VP or above out earn their spouse. Women control 51% of
private wealth in the U.S.; head 40% of households with
>$600K assets; 47% of market investors are women.
Major Credit Union: pre Y2K, modal customer was 53-year-old
family man; today, 46-year-old single working woman.
Commercial: 51% purchasing managers are women.
Women make >80% consumer purchases; businesswomen
make >90% of household purchasing decisions. Women:
70% of travel decisions; purchase 57% of consumer
electronics; write 80% of personal checks; purchase >50% of
cars (primary influence >80%).
Source: Don’t Think Pink: What Really Makes Women Buy—and How to
Increase Your Share of This Crucial Market, Lisa Johnson & Andrea Learned
1970-1998
Men’s median income: +0.6%
Women’s median income:
+ 63%
Source: Martha Barletta, Marketing to Women
Commercial Purchasing Power
Purchasing mgrs. & agents: 51%
HR: >>50%
Admin officers: >50%
Source: Martha Barletta, Marketing to Women
Internet
users: 60%*
*“manage their lives and the lives of their families” —
Kelley Mooney, president, Resource Interactive
Source: Fara Warner, The Power of the Purse
91%
women:
ADVERTISERS “DON’T
UNDERSTAND US.”
(58% “ANNOYED.”)
Source: Greenfield Online for Arnold’s Women’s Insight
Team (Martha Barletta, Marketing to Women)
“The most significant
variable in every sales
situation is the gender of
the buyer, and more
importantly, how the
salesperson
communicates to the
buyer’s gender.”
—Jeffery Tobias Halter, Selling to Men, Selling to Women
Thanks,
Marti Barletta!
The Perfect Answer
Jill and Jack buy
slacks in black…
“She
knows more about the
[Volvo] than the salesman who greets
her at the door. But how is she
treated? As if she has a low IQ , is
slightly hard of hearing , and really
has no right to be buying a luxury
car; and if she brought a male friend
with her, odds are 10:1 that the
clueless salesperson spent most of his
time speaking to him .” —Selling to Men, Selling
to Women, Jeffery Tobias Halter
EVEolution:
The Eight Truths
of Marketing
to Women
Faith Popcorn & Lys Marigold
EVEolution: Truth No. 1
Connecting Your
Female Consumers to
Each Other Connects
Them to Your Brand
“The ‘Connection Proclivity’ in
women starts early. When asked,
‘How was school today?’ a girl
usually tells her mother every
detail of what happened, while a
boy might grunt, ‘Fine.’ ”
EVEolution
Week #8:
testosterone
time!*
*Louann Brizendine, Neuropsychiatrist, The Female Brain. Week
#8/Testosterone surge kills: communication cells; grows: sex &
aggression cells. Also/E.g.: 10X to 20X, F eye contact/look for
emotional signals by 3 months. Later: F, more sentences that
begin with “Let’s …”; more likely to take turns
“Women speak and hear a language
of connection and intimacy, and men
speak and hear a language of status and
independence. Men communicate to
obtain information, establish their status,
and show independence. Women
communicate to create relationships,
encourage interaction, and exchange
feelings.”
—Judy Rosener, America’s Competitive Secret
“Women don’t buy
They
join them.”
brands.
EVEolution
Selling to men:
The
TRANSACTION Model
Selling to Women:
The
RELATIONAL Model
Source: Selling to Men, Selling to Women, Jeffery Tobias Halter
Editorial/Men: Tables, rankings.*
Editorial/Women:
Narratives that cohere.*
*Redwood (UK)
Purchasing Patterns
Women: Harder to convince;
more loyal once convinced.
Men: Snap decision; fickle.
Source: Martha Barletta, Marketing to Women
“The ‘Connection Proclivity’ in
women starts early. When asked,
‘How was school today?’ a girl
usually tells her mother every
detail of what happened, while a
boy might grunt, ‘Fine.’ ”
EVEolution
“Women speak and hear a language
of connection and intimacy, and men
speak and hear a language of status and
independence. Men communicate to
obtain information, establish their status,
and show independence. Women
communicate to create relationships,
encourage interaction, and exchange
feelings.”
—Judy Rosener, America’s Competitive Secret
“A woman can effortlessly speak 6,000
to 8,000 words a day, use an additional
2,000-3,000 vocal sounds and 8,00010,000 gestures and body signals. A
man utters 2,000-4,00 words, 1,0002,000 vocal sounds and makes 2,0003,000 body language signals. In
other words, women
communicate three times more
than men.” —Barbara and Allan Pease (from Selling
to Men, Selling to Women, Jeffery Tobias Halter)
2.6 vs.
“Women come out better
on almost every count as
investors … They are less likely to
hold a losing investment too long, and
less likely to wait too long to sell a
winner; they’re also less likely to put too
much money into a single investment or
to buy a reputedly hot stock without
doing sufficient research.”
Source: The Merrill report: “When It Comes to Investing,
Gender A Strong Influence on Behavior.”/Atlantic
1. Men and women are different.
2. Very different.
3. VERY, VERY DIFFERENT.
4. Women & Men have a-b-s-o-l-u-t-e-l-y
nothing in common.
5. Women buy lotsa stuff.
6. WOMEN BUY A-L-L THE STUFF.
7. Women’s Market = Opportunity No. 1.
8. Men are (STILL) in charge.
9. MEN ARE … TOTALLY, HOPELESSLY
CLUELESS ABOUT WOMEN.
10. Women’s
Market =
Opportunity
No. 1.
P-l-e-a-s-e Read …
Fara Warner:
The Power of
the Purse
Cases! Cases! Cases!
McDonald’s (“mom-centered” to “majority consumer”; not
via kids)
Home Depot (“Do it [everything!] Herself”)
P&G (more than “house cleaner”)
DeBeers (“right-hand rings”/$4B)
AXA Financial
Kodak (women = “emotional centers of the household”)
Nike (> jock endorsements; new def sports; majority consumer)
Avon
Bratz (young girls want “friends,” not a blond stereotype)
Source: Fara Warner/The Power of the Purse
Faith, Lys, Marti, Fara …
Targeting the New
Professional Woman:
How to Market and Sell to
Today’s 57 Million
Working Women
—Gerry Myers
“Goldman Sachs in Tokyo has developed
an index of 115 companies poised to
benefit from women’s increased
purchasing power; over the past
decade the value of shares
in Goldman’s basket has
risen by 96%, against the
Tokyo stockmarket’s
rise of 13%.” —Economist, April 15
Case:
McDonald’s
Discovers …
Women!
12.2002: $-344M
*International
*Build
*Men & Children
Source: Fara Warner, The Power of the Purse,
“From Minority to Majority: McDonald’s Discovers
the Woman Inside the Mom”
“Mostly Moms”
“Women were either ignored
in favor of focusing on men—
generally considered the
industry’s most frequent
users and therefore its most
important consumers—or they
were cast in the role of moms
who were simply conduits to
their children.” —Fara Warner, The Power of
the Purse, “From Minority to Majority: McDonald’s Discovers
the Woman Inside the Mom”
“We simply had
stopped being
relevant to women.”
—Kay Napier, SVP Marketing (Fara Warner, The Power of the
Purse, “From Minority to Majority: McDonald’s Discovers the
Woman Inside the Mom”)
“Women [in women-only focus groups]
told us that all moms are
women, but not all women
are moms—so why weren’t
we trying to reach all
women? We realized we
should be finding the woman
inside the mom.” —Carol Koepke,
marketing director (Fara Warner, The Power of the Purse,
“From Minority to Majority: McDonald’s Discovers the
Woman Inside the Mom”)
“McDonald’s shifted its strategy
toward women from one of
‘minority’ consumers who served as
a conduit to the important
children’s market to one in which
women are the company’s majority
consumers and the main driver
behind menu and promotion
innovation.” —Fara Warner,
The Power of the Purse, “From Minority to Majority:
McDonald’s Discovers the Woman Inside the Mom”
New! New! New! New! New!
Women’s
magazines
[“a medium that
McDonald’s had rarely used”]
Source: Fara Warner, The Power of the Purse,
“From Minority to Majority: McDonald’s Discovers
the Woman Inside the Mom”
EXCELLENCE.
OPPORTUNITY.
WOMEN.
BUSINESS.
OWNERS.
“The growth and
success of womenowned businesses is
one of the most
profound changes
taking place in the
business world
today.” —
Margaret Heffernan, How She Does It
U.S. firms owned or controlled by Women:
10.6 million (48% of all firms)
Growth rate of Women-owned firms vs all
firms: 3X
Rate of jobs created by Women-owned firms
vs all firms: 2X
Ratio of total payroll of Women-owned firms
vs total for Fortune500 firms: >1.0
Ratio of likelihood of Women-owned firms
staying in business vs all firms: >1.0
Growth rate of Women-owned companies
with revenues of >$1,000,000 and >100
employees vs all firms: 2X
Source: Margaret Heffernan, How She Does It
94%
of loans to …
women*
*Microlending; “Banker to the poor”; Grameen Bank;
Muhammad Yunus; 2006 Nobel Peace Prize winner
WOMEN.
DOMINATE.
ECONOMIC.
GROWTH.
“Forget China,
India and the
Internet: Economic
Growth Is Driven
by
Women.”
—Headline,
Economist, April 15, 2006, Leader, page 14
“Economic Growth
Is Driven by …
Women.”
—Headline,
Economist, April 15, 2006, Leader, page 14
“Since 1970, women
have held two
out of every
three new jobs
created.”
—FT, 10.03.2006
“Forget China, India and the
Internet: Economic Growth Is Driven
by Women.” [Headline.] “Even today in the modern,
developed world, surveys show that parents still prefer to have
a boy rather than a girl. One longstanding reason boys have
been seen as a greater blessing has been that they are expected
to become better economic providers for their parents’ old age.
Yet it is time for parents to think again. Girls may now be a better
investment.” “Girls get better grades in school than boys, and in
most developed countries more women than men go to
university. Women will thus be better equipped for the new jobs
of the 21st century, in which brains count a lot more than brawn .
… And women are more likely to provide sound advice on
investing their parents’ nest—e.g.: surveys show that women
consistently achieve higher financial returns than men do.
Furthermore, the increase in female employment in the rich
world has been the main driving force of growth in the last
couple of decades. Those women have contributed more to global
GDP growth than have either new technology or the
new giants, India and China.”
Source: Economist, April 15, Leader, page 14
Continuing on page 73:
“A Guide to Womenomics: The
Future of the World Economy Lies Increasingly
in Female Hands.” (Headline.) More stats: Around the globe
since 1980, women have filled “two new jobs for everyone
taken by a man.” “Women are becoming more important in the
global marketplace not just as workers, but also as
consumers, entrepreneurs, managers and investors.” Re
consumption, Goldman Sachs in Tokyo has developed an index of
115 companies poised to benefit from women’s increased
purchasing power; over the past decade the value of shares in
“Goldman’s basket has risen by 96%, against the Tokyo
stockmarket’s rise of 13%.” A couple of final assertions: (1) It
is now agreed that “the single best investment that can be
made in the developing world” is educating girls. (2) Also,
surprisingly, nations with the highest female laborforce
participation rates, such as Sweden and the U.S., have
the highest fertility rates; and those with the lowest
participation rates, such as Italy and Germany, have the
lowest fertility rates.
Source: Economist, April 15, page 73
Q: No. 1 contributor to
developing country
economic improvement?
A: More education for women.
Source: Many* (*On a related note, eBay founder Pierre Omidyar
and his wife just gave $100M to Tufts—its biggest gift ever—to
support micro-lending; women typically are
the recipients of 90% of micro-loans because they use
the $$$ more productively than men.)
Repeat: “Goldman Sachs in Tokyo
has developed an index of 115
companies poised to benefit from
women’s increased purchasing
power; over the past decade the
value of shares in Goldman’s
basket has risen by 96%, against
the Tokyo stockmarket’s rise
of 13%.” —Economist, April 15
Impact! Add It Up!
Primary markets/Everything
(“Men buy
things that other men will buy for women. I buy things that women want.”—
successful jeweler/F. “Women are the majority market” —Fara Warner/The
Power of the Purse. Women as Purchasing Officers, CIOs, etc.)
Greater global workforce
participation rate (“bigger contributor to GDP
growth than technology, China, India”—Economist)
Higher wages
(more seniority, promotions—even if not to
CEO; greater pay equity—even if not equal)
Business “decision makers”
(more
seniority, promotions—even if not to CEO)
Women-owned businesses
(answer to the
Glass Ceiling—10.6M in USA; recipients of “micro-lending”—developing
world)
10 UNASSAILABLE REASONS WOMEN RULE
Women make [all] the financial decisions.
Women control [all] the wealth.
Women [substantially] outlive men.
Women start most of the new businesses.
Women’s work force participation rates have
soared worldwide.
Women are closing in on “same pay for same
job.”
Women are penetrating senior ranks rapidly
[even if the pace is slow for the corner
office per se].
Women’s leadership strengths are exceptionally well
aligned with new organizational effectiveness &
value-added imperatives.
Women are better salespersons than men.
Women buy [almost] everything—commercial
as well as consumer goods.
So what exactly is … the point of men?
“One thing is certain: Women’s rise to power,
which is linked to the increase in wealth per
capita, is happening in all domains and at all
levels of society. Women are no longer content
to provide efficient labor or to be consumers
with rising budgets and more autonomy to
spend. … This is just the beginning. The
phenomenon will only grow as girls prove to be
more successful than boys in the school
For a number of observers, we
have already entered the age of
‘womenomics,’ the economy as
thought out and practiced by a
woman.” —Aude Zieseniss de Thuin, Financial Times, 10.03.2006
system.
COROLLARY.
EXCELLENCE.
WOMEN.
RULE.
“AS LEADERS,
WOMEN
RULE:
New Studies find that
female managers outshine their male
counterparts in almost every measure”
TITLE/ Special Report/ BusinessWeek
Women’s Strengths Match New
Economy Imperatives: Link [rather than rank]
workers; favor interactive-collaborative leadership
style [empowerment beats top-down decision
making]; sustain fruitful collaborations; comfortable
with sharing information; see redistribution of power
as victory, not surrender; favor multi-dimensional
feedback; value technical & interpersonal skills,
individual & group contributions equally; readily
accept ambiguity; honor intuition as well as
pure “rationality”; inherently flexible; appreciate
cultural diversity. —Judy B. Rosener,
America’s Competitive Secret: Women Managers
Women’s Negotiating Strengths
*Ability to put themselves in their
counterparties’ shoes
*Comprehensive, attentive and detailed
communication style
*Empathy that facilitates trust-building
*Curious and attentive listening
*Less competitive attitude
*Strong sense of fairness and ability to persuade
*Proactive risk manager
*Collaborative decision-making
Source: Horacio Falcao, Cover story/May 2006, World Business, “Say It
Like a Woman: Why the 21st-century negotiator will need the female touch”
New (4 of 7) Value-added “Ladder”:
Plays to Women’s Inherent Strengths!
Lovemark/F
Dreams Come True/F
Spellbinding Experiences/F
Gamechanging Solutions/F
Services/F
Goods/M
Raw Materials/M
“TAKE THIS QUICK QUIZ: Who manages more things
at once? Who puts more effort into their
appearance? Who usually takes care of the
details? Who finds it easier to meet new
people? Who asks more questions in a
conversation? Who is a better listener? Who
has more interest in communication skills?
Who is more inclined to get involved? Who
encourages harmony and agreement? Who has
better intuition? Who works with a longer ‘to
do’ list? Who enjoys a recap to the day’s
events? Who is better at keeping in touch
with others?”
Source: Selling Is a Woman’s Game: 15 Powerful Reasons Why
Women Can Outsell Men, Nicki Joy & Susan Kane-Benson
The Core Argument: Women [Ought to] Rule!
1. We are in a War for Talent.
2. The war will intensify.
3. There is a severe shortage of effective leaders
at all levels.
4. Women are under-represented in our
leadership ranks at or near the top.
5. Women and men are different; “new science”
reinforces this view.
6. Women’s strengths match the New Economy’s
leadership needs—to a striking degree.
7. Women are also the principal purchasers of
goods and services—retail and commercial.
8. Ergo, women are a large part of “the answer”
to the War for Talent/leadership shortage
issue/opportunity.
EXCELLENCE.
OPPORTUNITY.
ENORMOUS.
BOOMERS.
GEEZERS.
women
BOOMERS
!!!!!!!!!!!!!!!!!
“People turning 50
today have more
than half of their
adult life ahead of
them.”
—Bill Novelli, 50+: Igniting a Revolution
to Reinvent America
“Idiots” is
too kind a
word.
Stupid Fr*&^ing Idiot-Marketers!
“Critics describe evening
news in unflattering
terms— They’re
old! They’re set in their
ways! They won’t buy
iPods!”
Source: Advertising Age, 05.08.06
?????????????
?????????????
“Gen Y Sits on Top of Consumer
Food Chain: They’re savvy
shopper with money and
influence” —Headline, USA Today, 1012.06
Just Say No.
18-44
Subject: Marketers & Stupidity
“It’s 18-44,
stupid!”
Subject: Marketers & Stupidity
Or is it:
“18-44 is
stupid, stupid!”
“One particularly puzzling category of youthobsession is the highly coveted target of men
18-34, and it’s always referred to as ‘highly
coveted category.’ Marketers have been
distracted by men age 18-34 because they are
getting harder to reach. So what? Who wants
to reach them? Beyond fast food and beer, they
don’t buy much of anything. … The theory is
that if you ‘get them while they’re young,
What
nonsense!”
they’re yours for life.’
—Marti Barletta, PrimeTime Women
2000-2010 Stats
18-44: -1%
55+: +21%
(55-64:
+47%)
BoomerBucks!
Boomer turns 50: every 7 seconds. 2009: majority of
U.S. households headed by someone over 50. 20062016: U.S. population up 22.9 million; 22.1 million in
over-50 group. 2006: 1 in 5 adults is F, over 50.
Women between 50-70 who are single: 35%. Age
45-54: highest average income, $59, 021 (national
average is $42,209). FASTEST GROWING INCOME
CATEGORY: WOMEN, 55-64 (4X men in same
category). Women, age 60-64: 50% still in
workforce. Highest net worth: families, 55-64
($182,000). People over 50: 70% to 79% of all
financial assets; 80% of all savings accounts; 62% of
all large Wall Street asset accounts; 66% of $$
invested in the stock market. Age 50+: 29% of
population, 40% of total consumer spending, 50% of
discretionary spending. Next 2 decades: BOOMERS
WILL INHERIT $14 TRILLION-$25 TRILLION (“largest
intergenerational transfer of wealth in history”).
—Marti Barletta, PrimeTime Women
55-64 vs 25-34
E.g.: New cars & trucks: 20% more
spending. Meals at full-service restaurants:
+29%. Airfare: +38%. Sports equipment:
+58%. Motorized recreational vehicles:
+103%. Wine: 113%. Maintenance, repairs
and home insurance: +127%. Vacation
homes: +258%. Housekeeping & yard
services: +250% to +500%.
Source:Marti Barletta, PrimeTime Women
Average # of cars purchased per
household, “lifetime”:
13
Average # of cars bought per household
after the “head of household” reaches age
50:
7
Source: Marti Barletta, PrimeTime Women
3Q/2006.
$312M. (+18%.)
$1.6B. (+14%.)
Source: BusinessWeek, 1106.06, “Harley Just Keeps on
Cruisin’: Aging customers? Sure. Nostalgia brand? Definitely.
So why is the stock at a record high?”
50+
$7T wealth (70%)/ $2T annual income
50% all discretionary spending
79% own homes
40M credit card users
41% new cars/48% luxury cars
$610B healthcare spending/
74% prescription drugs
5% of advertising targets
Ken Dychtwald, Age Power: How the 21st
Century Will Be Ruled by the New Old
“Fifty-four years of age has been
the highest cutoff point for any
marketing initiative I’ve ever been
involved in. Which is pretty weird
when you consider age 50 is right
about when people who have
worked all their lives start to have
some money to spend.” —Marti Barletta,
PrimeTime Women
Median Household Net Worth
<35: $7K
35-44: $44K
45-54: $83K
55-64: $112K
65-69: $114K
70-74: $120K
>74: $100K
Source: U.S. Census
44-65:
“New
Customer
Majority” *
*45% larger than 18-43; 60% larger by 2010
Source: Ageless Marketing, David Wolfe & Robert Snyder
“The New Customer
Majority is the only adult
market with realistic
prospects for significant
sales growth in dozens of
product lines for
thousands of companies.”
—David Wolfe & Robert Snyder, Ageless Marketing
“Marketers attempts at
reaching those over 50
have been miserably
unsuccessful. No market’s
motivations and needs are
so poorly understood.”
—Peter Francese, founding publisher, American Demographics
Possession Experiences /“Desires
for things”/Young adulthood/to 38
Catered Experiences/ “Desires to
be served by others”/Middle
adulthood
Being Experiences/“Desires for
transcending experiences”/Late
adulthood
Source: David Wolfe and Robert Ageless Marketing
“Older people have an image problem. As
a culture, we’re conditioned toward youth.
… When we think of youth, we think
‘energetic and colorful;’ when we think of
middle age or ‘mature,’ we think ‘tired and
washed out.’ and when we think of ‘old’ or
‘senior,’ we think either ‘exhausted and
gray’ or, more likely, we just don’t think.
… The financial numbers are
absolutely inarguable—the Mature
Market has the money. Yet advertisers
remain astonishingly indifferent to them.
…”
—Marti Barletta, PrimeTime Women
“Baby-boomer
Women: The
Sweetest of
Sweet Spots for
Marketers”
—David Wolfe and Robert
Snyder, Ageless Marketing
“WOMAN of the Year: She’s
the most powerful
consumer in America. And
as she starts to turn sixty
this month, the affluent baby
boomer is doing what she’s
always done—redefining
herself.”
—Joan Hamilton, Town & Country, JAN06
Magazine of the
Year*: More
Source: Advertising Age, 1023.2006, “‘More’
Taps Power of 40-plus to Draw Advertisers in
Droves” (“More is breaking through
advertisers’ irrational obsession with
20-somethings …”)
“Sixty Is
the New
Thirty”
—Cover/AARP
“‘Age Power’ will
st
rule the 21 century,
and we are woefully
unprepared.”
Ken Dychtwald, Age Power: How the 21st
Century Will Be Ruled by the New Old
“Road Signs of the
Times: Creating an
easier-to-read typeface
for aging drivers”
—The New York Times
BONUS.
EXCELLENCE.
OPPORTUNITY.
ENORMOUS.
SINGLE-PERSON
HOUSEHOLDS.
Fastest growing demographic:
Single-person
Households (>50%
in London, Stockholm, etc)
Source: Richard Scase
% of homes purchased by
single women: 1981,
10%;2005, 20%
% of homes purchased by
single men: 1981, 10%;
2005, 9%
Source: USA Today/02.15.06
Women PURCHASERS.
Women business owners.
WOMEN WEALTH CONTROLLERS.
WELL-PAID WOMEN WORKERS.
WOMEN LEADERS.
Boomer-Geezer PURCHASERS.
BOOMER-GEEZER WEALTH CONTROLLERS.
Single-person HHs (Urban)
BONUS.
EXCELLENCE.
OPPORTUNITY.
ENORMOUS.
GENERIC DEMOGRAPHIC
TSUNAMI.
(UNPRECEDENTED IN HISTORY.)
Demographic Upheaval!
1/1/2008: 60% of the Prime Work Force
(“boomers”), mostly white males, will be able
to retire—at a rate of
10,000 per day.
As of 2005: 75% of people entering the
workforce are women and minorities. As of
“flood the
management ranks” as the
2008, they will
PWF retires.
Programs for recruiting women and minorities
with the necessary intensity: mostly AWOL.
Selling to Men, Selling to Women, Jeffery Tobias Halter
not.
Yet.
Done.
What the hell
do I have to
do to make
my point?
Tom Peters
The Copenhagen (Self) Pact re “This Topic”:
*Early!
*Loud!
*Repetitive!
*Aggressive!
*Unfriendly!/rude!/
insulting!
Women’s Trifecta+
*Buy/all
*Wealth/all
*Lead/ better
+Eclipse of males/whoops
(Retire-old/Poorly educated-young)
Boomers’-Geezers’ Trifecta
*Buy/all
*Wealth/all
*time left/ lots
Boomers’-Geezers’-Women’s Trifecta+
*Buy/all
*Wealth/all
*time left/ lots
*Eclipse of males/retire-die
Just Say “No” (!):
Launch an
“Initiative.”
You either believe
“all this.”
Or don’t.*
*No middle ground at the level of Extreme Commitment I’m suggesting
Don’t “get it”
= Stupid*
*and you are not stupid
E-nor-mous
Strat-eg-ic
opp-or-tun
Amazon Reviewer: “‘Trends’ [TPMB book] is old news!” (1 of 5
stars)
TP:
“Repeating it doesn’t make it
It ain’t old if it
hasn’t been
implemented!”
‘old.’
women
BOOMERS
EXCELLE
ALWAYS