Fashion runways and magazines are dominated by thin, youthful models. But according to analysts, older women are about to dominate actual fashion expenditures. Unaddressed, this shift could cost the industry $14B+.
Face it, girls. She’s older, she has more insurance…
And she has more expendable income. In the UK, women aged 50+ are expected to overtake younger shoppers as fashion’s biggest spenders — by a large margin — within the next 20 years.
In 2018:
- Women under age 50 spent $23.2B on fashion purchases
- Women aged 50+ spent $21.7B
By 2040:
- Women under 50 are projected to spend $28.1B on fashion purchases
- Women aged 50+ are projected to spend a whopping $38.4B
And you can keep your kaftan
It’s not just that younger generations have fewer people. People are living longer, taking better care of themselves, have greater incomes… and they want to look fabulous enjoying the rest of their lives, dammit.
But fashion ageism is a multipronged problem. According to a survey by the International Longevity Centre:
- Older women aren’t interested in fast fashion, which they view as designed for younger women
- Older women find the brands marketed to them to be frumpy and limited in selection
- Brands that might appeal to older women often don’t market to them