Farnaz on Cultures and Archetypes, Negating Stereotypes, Redefining Archetypes, New World Trends, New Realities, Women, Emerging Power
Have you heard this, or seen this on t-shirts and bumper stickers? It’s true. I’m turning 50 this summer, so I’m inspired to write a blog about what this really means. People flatter me all the time by saying I don’t look my age. But I’m not the only one. Turning 50, for many, have made it possible to live an active, healthy, productive lifestyle. This is a game changer for many businesses that have been stuck with their 18-49 target planning. And here’s why….
In my 2012 trend predictions blog, I noted that with baby boomers staying younger and more fit, expect to see a higher % of ad dollars for them. There is more. Boomers 50+ have unique life stage milestones that provide them with the means to splurge more on bigger-ticket items—changing jobs, starting a new business (yes, thank you very much), children going off to college or getting married, adopting a healthier lifestyle, changing homes, developing new hobbies, discovering new habits, taking more trips, joining the digital/mobile way of living, enrolling in weight loss programs, becoming care givers to parents or even a spouse. This is more than just going through a mid-life crisis of ditching the spouse and buying a motorcycle/sports car, or jumping out of an airplane.
Maybe it’s just about forgetting to get and feel older. For women, in particular, it’s about saying good bye to invisibility and getting traded in for the younger. I think 35 to 60 is where it all comes together for women with elegant maturity, spiritual wisdom and a balanced outlook on inner and outer beauty.
This mid-life transition, once a very exhausting and confusing life stage, is now a midpoint to another adult life that can easily last 30 to 40 years more, thanks to medical science coupled with holistic herbal approach, greener/healthier forms and diet, active lifestyle, and living a more meaningful life in pursue of happiness beyond a paycheck and financial planning. These are rapid cultural shifts with a completely different set of needs and values. Our pop culture, from actresses and TV personalities to business leaders and writers, is already redefining 50.
Companies who understand the dynamics of this new milestone and negate existing stereotypes will be able to intelligently develop products and services that allow this new 50+ target maximize the upside of their lives, and will win in the New World Marketplace.
So to all friends: let’s celebrate the new 50 and start redefining our culture.
PS—My pre-release party and book signing event is scheduled for Wednesday, April 18th. Click here for the details.
We celebrated the International Woman’s Day last week. Lately, from revolutions in the Middle East, to polarizing political debates in the US, and online campaigns all over the globe, women are at the forefront of social and cultural change. Yes, women are blooming, and this is a good time to share a bit about our emerging leaders–the Gen Y women.
The Gen Y (aka milllenial) women have a different life path than you can imagine. Levi’s survey in 2010 reported:
- 96% list “being independent” as their single most important life goal
- 87% define success as being able to shape their own future
- Only 68% say becoming a mom is on their priority list
- 50% say getting married is a priority
- Just 43% ascribe much importance to getting rich
Put differently, half of young women do not see marriage as a priority and one third say the same about becoming a mom. And it is not so much about getting rich as it is about shaping own future.
We all know Gen Y is a wired, digitally connected generation. But did you know women are becoming more active users of digital media than men? According to Neilsen’s digital consumer report, women are:
- 51% of TV viewers
- 53% of online video users
- 54% of social network/blog visitors
- 50% of smartphone owners
These differences are not statistically significant, really. Plus, I neither believe it should be a man’s world nor a woman’s nation. But I am hoping that this type of data sharing will help negate stereotypes and dichotomies that are still out there in media and advertising–even politics. Did you know women control/influence 85% of all major buying decisions? We couldn’t tell by our media coverage and ad campaigns. I’ve always believed the media’s misrepresentation of women has led to the underrepresentation of women in positions of power and influence in this country. And I believe the Gen Y women will change all that…!!!
I’m starting to feel like Farnaz Global is also blooming like this beautiful Spring. Please take a moment to re-visit my web site and check out the new additions. I’ve also updated my Twitter and Facebook Fan Page. Please follow me….I’ll follow you back…!!!
I’d like to take this opportunity to wish everyone a happy Spring Equinox, coming up next Tuesday, 3/20. This is also the Persian New Year. So if you see or talk to any Iranian next week, say “Eidet Mobarak” which means happy norooz (new day/year). This is a new day, new year, and The New World Marketplace.
Thank you so much for all your support. I truly appreciate all the warm notes from everyone last week when I introduced my book. But there was a lot of confusion about the release date. To clarify, the official release date is June 5th. That’s how long it takes for the publisher, distribuor, wholesaler and internet sites to all get on the same page. However, my book is available on my web site, as well as my publisher’s site. And you can receive your copy 7-10 days after you place your oder.
Happy New Year! Yes, I know….I am late for both my happy new year wishes and bimonthly blogs. Truth is, I’ve been busy finalizing production details with my publisher and gearing up for a busy season of consulting and speaking. But I wanted you to be the first to see the layout of my book cover: “The New World Marketplace – how women, youth and multiculturalism are shaping our future.”
I am super excited and will be rebranding my social media platform once the book is in the market in a month or so. I will also provide updates on book signing events and speaking gigs, and hope to see you in my travels.
In keeping with my commitment to share a New World Marketplace update in each blog, I’d like to tell you a bit about how constant cost cutting during economic challenges can drive new product innovation and quality of service into the ground. While cost cutting is an important discipline in any business model, it should never be at the expense of quality and service—which are the revenue drivers. You can choose to drive profits from the front end, or the back end. Your call. But if you choose the latter, remember your competition is putting new products out in the market faster, and offering better quality and service. At the very best, you’ll end up as a mediocre company with mediocre products and services.
And how long do you think that will sustain you during a recession?
Earlier this month, I decided to end my 7 year love affair with my Audi TT and get a hybrid car. So you can just imagine the pushy sales tactics that I had to overcome online, and by phone just minutes after a click, before I even entered a car lot. I ended up with a Lexus hybrid CT 200h. Sure the product and price was the best fit for me, but it was the service that sealed the deal. Lexus products and prices are not that different than other high-end competitors, it is the service that is their strategic differentiation. Think about this: what type of price or cost do you allocate toward great service? OK, Audi didn’t have a hybrid, but I left because of their inferior service to begin with. Do you think I’m really that unique? And what if low-mid price brands offered luxury service? Wow…that will be one recession-proof brand….!!!
Gen Y’s strong affiniy for hybrid cars are leading us away from traditional vehicles. They also prefer cars that are an extension of their social media and digital lifestyle…and willing to pay for it. This is good to know regardless of what products you sell. It’s about keeping up with the pace of the New World Marketplace.