Basics
1. Details Matter
I once watched as my significant other purchased a pair of boots on Amazon. She spent three hours looking at the pair of boots. She looked at where the zipper was placed, what the color of the zipper was, how it was attached to the boots, how far up and down the zipper went, and on. She looked at the color of the boots, then compared that color to the colors of her pants. She looked at how the sole of the boot was attached to the rest of the boot. I could go on. She studied those boots for hours. And she bought them. Details matter to female Echo Boomers and they want visual details not descriptive details relative to the product (notice how this product was fashion).
2. Language
Unbeknownst to most fitness readers, most articles for men are also written for women. What differs is wording. Men want to be jacked and ripped. Women want to be toned and lean. Some of the top fitness writers for men have pen names that have almost the exact article for women because all they need to change is the wording, images and a bit of the structure. This applies to every product that overlaps for male and female Echo Boomers. If they'll both demand the product, don't be afraid to have different sales strategies for what will appeal to each.
3. Shopping Experience
This applies more to the "online" businesses than the businesses with shops. Female Echo Boomers want to feel that there is a shopping experience even when they go to your website to purchase a product. Even if you have to mimick a shelf online (remember Amazon doing this with books?), it's worth doing as it feels like a shopping experience. When a person shops at a store, there are often related or identical products from competitors side-by-side. Also, as I noted in Details Matter be aware of showing products with details. Descriptions, reviews, images and anything that allows female Echo Boomers the ability to shop for the product they want.
Six Services That Are Selling And Will Continue To Sell
Among single female Echo Boomers, businesses that specialize in the following six areas will see the most growth. Outside the medical and school systems, which will always be profitable institutions, these areas will help capture the single female Millennial demographic.
1. Home Security
Safety and security are a primary concern of single females, especially Echo Boomers. In sales, the phrase "safety and security" works seven times better for single females than it does for single males. I've spoken with several individuals in the home security industry, and their dominant demographic: single females (one of them told me that married males will buy home security, but her customers were seldom single males). Female Echo Boomers are no exception here; they'll want home security for a place they rent (if allowed) or own.
2. Real Estate
One third of female Echo Boomers express interest in owning a home someday. I would expect that as more single female Echo Boomers become homeowners, more single Echo Boomers will want homes (in other words, we'll see a rising effect as more homeowners influence other potential homeowners). If you look at the current data (below), you'll see that the growth potential here is quite high. Recall, that Generation Y is the second largest generation in American history.
3. Fashion
One of the common jokes about living in West Texas (ie: Midland) was that you never knew who were the wealthy men of the area. You could be talking to a man in worn-out jeans, a dirt-covered jean jacket, and old boots, but the man had 9-digit wealth. Not with women. You knew which women had money because of one word: fashion.
Females of all generations tend to spend large amounts on fashion. And since the fashion world constantly changes, any fashion business you build will have a never-ending crop of customers who constantly need something "new." Could you ask for a better business?
4. Photography
After spending several years speaking with business owners, I learned from photographic studio owners that their major customer were females. Although a low marriage rate might imply that there will be a lack of interest in photography (no family photos, wedding photos, et cetera), single female Echo Boomers will still buy photography for their children (remember single mothers are a profitable group), or various life events, like special parties with friends. Also, Echo Boomers themselves will spend money on photos of themselves. I would expect photography to do well with female Echo Boomers and there's a variety of angles here - selling photography, equipment, et cetera.
5. Religious material
Religious organizations offer the opportunity to cross sell products, such as DVDs, books, et cetera. Material published for single females may have more success among Echo Boomers than Xers or other generations. Of the Echo Boomers I speak to, when reviewing accounts, females are more likely than males to purchase items at religious stores or donate to religious organizations.
6. Travel
Single female Echo Boomers express interest in travel more than single male Echo Boomers.
