dispatches from the new world of work

The Marti & Margaret Show

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.

Damn it.

(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.)

Tom Peters posted this on 09/22/06.

Comments

I recently bought my 81 year old Dad his second cell phone (yes I - a female over 40 - bought the phone). It astonished me that there were really no phones at the Verizon store that catered to the needs of a senior citizen (most of the numbers on the keypad had little or no contrast with the background - hard to see - even for me!! - etc.).

I too don't understand why marketers continue to ignore the aging population and the fact that women make most buying decisions. My husband is 35 and 8 out of 10 times he couldn't care less about the products and services we consume. I made the decision, or executed the transaction, to buy everything from his video iPod to his car.

Posted by ann michael at September 23, 2006 9:27 AM

Ann, I so agree and bravo Tom for staying on this bandwagon! I'm almost 46 and I have the same challenges with my cell phone. The key pad is a blur without my reading glasses, not to mention trying to see the names and addresses I have stored on it. My keyboard on my laptop is likewise a blur without these glasses.
And that is just the tip of the iceberg.

Am I being silly to want to be able to go to the supermarket and read the ingredient list on a package without squinting, even with my glasses on?

Maybe I'm just whining because generations before me have had to don the glasses to read the labels, and work the phone. Do we as boomers just not want to deal with changes?

And the disparity of pricing for men and women's clothing is still infuriating. I was in the store the other day looking for sleeveless t-shirts to wear underneath my long sleeve shirts as the weather is heading towards winter here in the upper Midwest and I found one women's t-shirt on a hanger for about $6.00. I go to the menâ€™s section and find the same style of t-shirt, 5 in a package for under 10.00. Why can't they package them that way for women? Hello Fruit of the Loom??? Are you listening???

And yes, I am the one who has selected all of the new appliances for our new home in the past year. These include a front loading HE washer and Dryer, a new chest freezer, a refrigerator, and a Dyson vacuum. We also bought a new car and guess who picked it out?

My husband goes along but I am the one who does the research, compares brands, features, quality safety, and cost. I could be the women on the chart that Marti has in her book. My footprints, physically, and virtually are all over the place before I settle on the best possible product.

I would really appreciate it if the CEO's CFO's COO's and the rest of the gaggle understood that made it a point to meet my needs.

I am a boomer woman, approaching Prime Time, and you guys are really missing the boat.
Thanks again Tom. You rock!!!

Posted by Nellie Moore at September 23, 2006 8:36 PM

We all need to keep at it. Tom, you think you're frustrated? Let me add more fuel to this.

I am 53 and what my family affectionately calls the "accidental patriarch". After my Dad passed away, I got the virtual nod to watch over the family. I've been responsible for the purchase of everything from college educations to (yes) cell phones and glasses for my aging mother.

The message, spoken and unspoken, is "we don't care about you".

Are WE not getting something?

Posted by Kate at September 24, 2006 9:17 AM