Women over 45 are a neglected powerhouse of innovation, industry and power for change. Marketers are only slowly waking up to their potential. Cherie Blair becoming a mother again at 45 was a media event which drew attention to women in their forties at the peak of their career who are also beginning new lives, as mothers and women in their own right. This event does not typify life for all women at 45, but then what does? Market Assessment's report on this neglected group of women has drawn many strands together to show that new perceptions are needed to accurately assess rapidly changing lifestyles. Similar changed perceptions are needed to address the requirements for products which meet new expectations of independence, employment and leisure.

The diversity of lifestyles among older women presents an immediate challenge. Research for this report has established that only in acknowledging the diversity of lifestyles among older women can meaningful differentiation between groups and interests be made. A differentiated approach is essential to enable marketers and others to respond successfully to previously unacknowledged needs. Women in their forties and fifties are more likely to experience divorce, bereavement, and financial independence than women in other lifestage groups. Mid-life brings new challenges which are in many ways more demanding than the experiences of earlier life. Marketers, again, are not showing the same resourcefulness as women in matching a climate of change.

There is increasing parity in economic activity and financial independence for women in the mid-life age group with men. However, women are at a disadvantage financially if they have brought up children, with less savings and pension funds. Many women returning to work, for example, have low levels of confidence in managing their own finances and they are far less likely to own personal pension plans. Major opportunities exist for financial service providers who can recognise these difficulties for women and appeal to women's more cautious approach to financial planning. To date, only women with high divorce settlements appear worthy of serious attention by providers.

It is not accidental that the 45-54 age group is significant in changing the agenda in perceptions of older women. Numbers of this 'baby boomer' generation will have risen by over 20 percent between 1990 and 2000. Their expectations of life and lifestyle have been formulated in a youth orientated culture and they are not prepared to give up the benefits of this culture as they enter middle age. This report shows significant differences in attitudes among this group in comparison with older women in relation to work, buying habits and products purchased. In addition, these women set a high premium on youthful fashion and cosmetic products and their tastes will transform markets for older women in the next decades.

Women over 45 are conscientious consumers. They are aware of ageing and the changes that it is likely to bring. With men, they share a huge appetite for travelling in the fifties and sixties when pension plans kick in and family responsibilities recede. Underlying this trend is also an awareness of possible restrictions on these high spending leisure activities as they get older, and a corresponding desire to 'make the most of it' while they can. Women in this older group will be diligent in maintaining family ties and interested in savings and legacies which may benefit children and grandchildren. Despite the high number of women returning to work in their forties and fifties, the family retains high importance. The significance of marriage has receded for women in general, but Market Assessment data shows that the family is still closely associated with happiness. Correspondingly, the family is also a major focus of spending, which is highest among those aged 55-64 (84 percent) but remains consistently high among all those aged over 45.

This report has established that many older women are relaxed in their approach to leisure as they get older. For example, older women are more likely to associate keeping fit with pleasure rather than as part of an overly body conscious routine. They will have more available leisure time, more time for friends and family. Even lower levels of income and savings will not inhibit a more social lifestyle than men, who are likely to remain attached to home based activities such as DIY and gardening as they get older.

When assessing the requirements of older women, it is important to look beyond age to factors such as affluence and mobility which are increasingly important in determining the nature of older lifestyles. Certain key factors are unassailable as women enter old age. Participation in home based leisure activities increases. Mobility may decrease and this will limit socialising outside the home. Secondly, lower pension income and anxiety on overspending may limit out of home pursuits, such as eating out, to special occasions. For many women also, the death of a spouse or a declining circle of friends may act as a brake on former patterns of socialising.

It may appear paradoxical, but among older women the only constant is change. Furthermore, in the future more youth orientated lifestyles will transform perceptions of ageing. Tomorrow's older women have been used to taking control of their own lives. They will accommodate the changed physical circumstances of old age as best they can and those who live longest are likely to have active social lives and interests in friends and family. However, choice and control will replace custom, and choice may mean riding a Harley-Davidson in preference to wearing a twinset and pearls.