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8 October 2016 | beautystorebusiness.com Consumers over 50 have also evolved in recent decades. Many are tech-savvy and seek the latest beauty solutions, but they feel overlooked as an audience. "Six out of 10 U.S. adults over the age of 70 say advertisers are stereotyping them, and fewer than half say they identify with people in ads. In other words, advertisers are getting it wrong," explains Elizabeth Kraus, Seattle-based author of Make Over Your Marketing and Clients Rule: 2016 Marketing Calendar for Salon and Spa. "This is especially critical, given that baby boomers may control as much as 70% of U.S. dispos- able income and buy half of all packaged goods within the next few years. In fact, by 2017, half of the U.S. population will be age 50-plus. And more and more clients in the 50-plus age group are realizing the rules that governed their parents' choices as they grew older no longer apply." INSIDE THE MATURE MIND Clearly, the over-50 market is a force to be reckoned with, but Scharf notes that they're one of the most often ignored groups of consumers, as marketers chase younger demographics. So catering to an older client base can do wonders to set a business apart. "Women turning 50 represent the fastest-growing group of beauty shoppers in the country with the most disposable income. They make up 111 million (45%) of the U.S. population and are the No. 1 consumer-age demo- graphic in the United States," says Erica Connor, director of U.S. operations for Dermalogica in Carson, California. "Over the next decade, they will triple the pace of younger demographics, increasing by more than 16 million. So it's vital to any beauty retailer's success to cater to this group." Dave Austin, managing director at Washington, D.C.-based Influent50, a 50-plus marketing agency, also stresses the importance of targeting this demo- graphic. "We've found companies are either not targeting the over-50 market, or are making costly mistakes in their marketing and advertising when they do," Austin says. "In an age where brands are targeting millennials who are strapped with student loans and credit card debt, boomers are being ignored, which is a huge mistake." According to Austin, U.S. residents age 50 and older spend $230 billion on consumer-packaged goods annually. An Influent50 survey last year found that they're spending more than they were in their younger years, and they're open to new brands and willing to upgrade, even when products they've been using are "just fine." They're also willing to pay more for quality products and exceptional customer service. "They're the biggest spenders because of decades of investing and saving," Connor agrees. "They have the most disposable income and account for roughly 50% of retail sales but, shock- ingly, only 10% of overall marketing dollars are spent on targeting them." She adds that the fast-growing baby boomer segment is living three decades longer than they did a century ago, and they're more physically and intellectually active than their parents were. Hence, this ain't your grandma's over-50 expe- rience. Today, women and men of all ages don't want to be pigeonholed into "age-appropriate" behaviors. "The over- 50 market is more social media savvy than a few decades ago. And as time goes on, it's becoming more common to be single when you're older," says Ste- fanie Parks, founder of DermWarehouse in Columbus, Ohio. "This group of people is connected and social. They know and are on top of the latest trends; and they want to look and feel good." Influent50 found in its recent sur- vey that over-50 consumers are looking for innovation and creativity. They want brands to understand them as consumers and they don't like gimmicks. "Boom- ers are engaged, tech-savvy and on the move. They're not retired and playing bingo down at the senior citizen cen- ter or listening to smooth jazz on the radio," Austin points out. "They're traveling (planning four to five trips in 2016 alone) and are on social media, especially Face- book. They're adapting to new trends and adopting technology, and many boomers have redefined life after 50. They're start- ing businesses or new careers, going back to school or crossing off bucket-list items." Therefore, don't assume that today's 50-plus clients remain stuck or staid in their beauty routines. "They're just as likely to want to try something new as younger clients and most have the money to make it happen," Kraus says. "Unlike older generations who may have gone to the same salon (and worn the same styles) for decades, today's mature clients embrace change and variety MATURE MUST HAVES The products that address the needs of the over-50 cro d Sc rzkopf Professional Igora Royal Absolutes Silver hite enhances natural silver tones for mature tresses in four shades: Silver, Dove Grey, Slate Grey and Grey Lilac. A transparent effect brings out natural sheen, while a siliamine and collagen complex restores hair's youth. Suggested retail price: $10.99, schwarzkopf.com With 0.5% retinol, Dermalogica AGE Smart Overnight Retinol Repair accelerates skin renewal, reverses the signs of photo-aging, improves skin tone and boosts firmness with peptides, stabilized vitamin C, natural botanicals and the Copper (Cu++) Amino Acid Complex. SRP: $85, dermalogica.com Ideal as an overnight recovery treatment, the hydrating, gel-like Tatcha Overnight Memory Serum Concentrate visibly renews skin to lend a youthful glow after a single night's use. Okinawa red algae and seven botanical extracts restore hydration, refine texture and plump fine lines. SRP: $110, tatcha.com Lightweight and easily absorbed, NYR Organic Beauty Sleep Concentrate has been scientifically formulated to support skin's natural nighttime regeneration. The treatment helps reduce the appearance of fine lines and wrinkles, creating soft, supple results. SRP: $53, us.nyrorganic.com Ideal for any skin type, Nuxe Anti-Aging Night Serum Nuxellence Detox boasts 10 patents to reveal skin's youthfulness. The daily-use, nighttime treatment revives skin while rejuvenating and detoxifying with the skin-repairing proprietary Super-Detox Complex. SRP: $75, us.nuxe.com "Women turning 50 represent the fastest-growing group of beauty shoppers."