Marti Barletta authored one of my favorite books, Marketing to Women—and she coauthored with me one of the four "Tom Peters Essentials" books, Trends. And in January 2007 she'll offer us her newest and, I think, best: PrimeTime Women.
Here are a few ... STARTLING ... Boomer Facts that I pulled from my early copy of Marti's book:
Boomer turns 50: every 7 seconds. 2009: majority of U.S. households headed by someone over 50. 2006-2016: U.S. population up 22.9 million; 22.1 million of the increase in over-50 group. 2006: 1 in 5 adults is F, over 50. Percentage of 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").
Apparently, treats come in pairs. Right on the heels of receiving Marti's ms., I got Margaret Heffernan's How She Does It, by far the best book yet on the incredible Women-owned Businesses Saga! The stories are great, but let me provide, as in Marti's case, a few extracted stats:
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 all Fortune 500 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
After a decade of chasing—and yelling and begging about—the stories of Marketing to Women, Marketing to Boomers-Geezers, The Power of Women-owned Businesses, I am very frustrated. While there has indeed been progress, virtually no sizeable enterprise has "turned itself upside down" in pursuit of this matchless opportunity. A little bit of work here, a little bit of work there ... but nothing that meets the "turned itself upside down" nature of the opportunity. Frustrated! Yup. And: Flat out pissed off at the stupidity (STU-PID-ITY) of failing to chase this ... GIGANTIC OPPORTUNITY ... as hard as it deserves.
(Yup, you guessed it: A wee PowerPoint Special Presentation, "The Marti & Margaret Show," is attached—offering up a few stats and quotes from Barletta's and Heffernan's efforts.)