As we take this time during Women’s History Month to celebrate International Women’s Day, marketers should pause to finally see the full potential of connecting with women over 50.
This powerful demographic accounts for more than 27% of all consumer spending — a major feat considering women, on average, still earn 80.5 cents for every dollar a man earns.
Plus, with a number of high-earning megastars, including Jen Aniston, Cate Blanchett, Jennifer Lopez, and Gwen Stefani all celebrating the Big Five-Oh this year, the power, visibility, and influence of this group is only going to grow.
Jennifer Aniston leads the way
Aniston is the first of the megastars to turn 50 in 2019, and she’s already challenging preconceived notions. It’s been 15 years since “Friends” went off the air, but Aniston remains one of the highest-paid actressesin the world.
Off-screen, Aniston spent four years as an investor and spokeswoman for the high-end beauty brand Living Proof. It tripled in size during the years her name was on the door, before ultimately beingsold to Unilever for an estimated $150m.
Thanks to her other brand endorsements, such as Smartwater and Aveeno, Ellereferred to Aniston as “the face that launched a thousand ad campaigns.” And, there are no signs of a slowdown.
As Aniston makes her graceful entry into a new decade, she’s going to completely redefine what it means to look, act, and be 50 for a whole new generation of women.
50+ women can’t be ignored
This demographic has been misunderstood in our culture for a long time, even as their sheer spending power and influence has grown dramatically.
Marti Barletta, author of PrimeTime Women, reports that after they’ve put the kids through college, consumers 50 years or older spend 2.5 times what the average person spends. Women are the primary buyers of a range of big-ticket items, including computers, cars, and banking and financial services.
Along with their spending power and diverse interests, women 50+ have a healthy spirit of discovery. This willingness to try new things is a boon to brands, according to AARP research.
A cultural milestone
Now that Jennifer Aniston has turned 50, we’ve entered a unique cultural moment that will help us all realize, once and for all, that our past notions of how women over 50 are supposed to look and act haven’t been valid for a long time — and that our happily-ever-afters will keep changing in wonderful new ways. With Women’s History Month underway, it’s the perfect moment for marketers to view and connect with this important demographic in wonderful new ways, as well.
Patricia Lippe Davis is vice-president of marketing at AARP Media