Older Women a ‘Missed Opportunity’

The apparel industry is missing a major market by not targeting baby boomers, according to More magazine, which recently sponsored an American Apparel & Footwear Association business conference titled “50 Is the New 35.” The median net worth of a consumer over 50 is $112,000—compared with the $7,240 median net worth of the typical target of most fashion companies, consumers under 35. Some 39 percent of the total money spent on apparel was spent by women ages 41 to 59—yet females ages 11 to 30 have five times as many buying options, according to Michael Gratz, research director of AARP publications Today’s older consumers live their lives by lifestyle rather than by age—a shift in mindset and spending habits from previous generations. Forget any preconceived notions about brand loyalty: Adults over 50 not only are likely to switch brands but also have the financial mea
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