Senior women, those who are 60 or over, are eager consumers worth paying attention to. They might have older parents, children, and grandchildren they care about and will shop for. If they are married, they will also be in charge of the finances and be in control of or exert great influence in relation to the expenditures in the household.
Typical Profile and Spending Patterns
There is a larger proportion of independent working women in this age group than ever before. And their spending accounts for more than $1 trillion in the US alone. They are frequently tech savvy, with computers for social networking and other devices such as smartphones and eReaders. They consider having two TVs in the house a necessity rather than a luxury, and use both TV and internet as ways to improve their lives through products, services, travel and educational experiences.
They are often empty-nesters who are wondering "What next?" and answering this question in a range of ways. Some are divorced, while others become widowed. They are still interested in romance, dating and sex.
If they are single, they will either learn new skills in relation to home maintenance, lawn care and so on, or hire others to do this work for them. Other increasingly popular services include grocery delivery and food delivery from their favorite restaurants, and entertaining friends at home.
Many are eager for new experiences and are willing to try more things. Some even have a "bucket list" of things they would like to do before they die or are too old to be fully mobile and independent. They are interested in their physical health so they can maintain their self-reliance and not be a burden on others.
Some look forward to retirement, but others are planning to continue working for as long as they can. There are a few reasons for this. The first is that they might not be able to afford to retire. The second is that they feel they would be bored if they did. A third reason is concern that would lose their role in the community and workplace and feel at a loose end. A fourth reason is that some are thinking of starting their own business, with all of the excitement that this will inspire.
These women represent about 80% of all spending on prescription and over-the-counter medicines, and 70% of home-related expenses such as maintenance and insurance. Other big spending areas include new cars, groceries, clothing, personal care products, and leisure time activities.
These women are often tech savvy; they connect with loved ones online and enjoy engaging in social networking. They feel it is part of their "me time" to be enjoyed. In relation to shopping, they will fact find, seek a range of opinions, and plan purchases in more detail. They are interested in products that will help them look younger, within reason. A few might consider Botox and plastic surgery, but most will consider teeth whitening, hair coloring, and fashionable clothes to maintain a youthful outlook. They may not be 29 forever, as the old joke goes, but they certainly do not want to be dismissed as "senior citizens."
Marketing to women in their 60s and over can be profitable if you are prepared to do the research to see where they are spending most of their time online, and what they are talking about. Health, beauty tips, food, grandparenting, making the most of their money, and living better for less, are all ideal ways to meet the needs of this target audience.