Statistics Show That Marketing to Women is a Smart Move

Given the outsize influence of female shoppers, it’s becoming increasingly important for businesses to tailor their marketing strategies to meet the demands of women consumers. Women control the purse strings and conducting single-gender focus groups can be a great way to gain the insights you need to make your marketing more effective. If you’re not already convinced that marketing to women should be a key consideration for your organization, then read on to learn more about some of the most convincing statistics that illustrate why women should be a key focus of your marketing strategy.

marketing to women

Marketing to women requires a different approach than men, but it’s well worth the effort.

Why Marketing to Women Matters

Earning Power

Although women have historically earned less than their male counterparts, this trend is beginning to shift. The earning power of women is quickly making huge gains and earning patterns are likely to shift drastically in the coming decade.

  • 51% of private wealth is controlled by women in the U.S.
  • 60% of all personal wealth is controlled by women

Spending Power

While it may sound like a stereotype, studies indicate that women do enjoy shopping more than men and they have a huge influence on product purchases. From cars to healthcare to toiletries, women control the majority of household spending decisions.

  • 85% of all consumer purchases are completed by women
  • In 2007, women influenced decisions over electronics shopping to the tune of $90 billion
  • 75% of women consider themselves to be the primary shopper in their household
  • 58% of all online spending is completed by women

Mom Power

Mothers are an important segment of the female shopper market and mothers tend to shop slightly differently from women without children.

  • Moms make up a $2.4 trillion market
  • 55% of moms who use social media said their purchasing decisions were influenced by product reviews they read on a personal blog
  • 21 million moms read blogs in 2014 and that number is only expected to grow
  • 90% of moms spend time online as compared to only 74% of childless women

By tailoring your marketing strategy to take advantage of women’s purchasing power, you can better position your product for success.

About Observation Baltimore:

At Observation Baltimore, we understand that the success of your research is directly tied to the quality of your participants.  Recognized as one of the top Maryland market research facilities and rated “One of the World’s Best” by Impulse Survey, we believe that Experienced Recruiting Makes the Difference.  Our experienced recruiting is the foundation of our mission, as well as courteous and proactive hospitality and client services. Just six minutes from BWI airport and AMTRAK, our Baltimore research facility has a great location. Most importantly, we understand market research!

Source: http://thenextweb.com/socialmedia/2012/01/24/the-top-30-stats-you-need-to-know-when-marketing-to-women/#gref

This entry was posted on Wednesday, October 26th, 2016 at 8:23 am. Both comments and pings are currently closed.

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