Women as Decision Makers/Various sources Home Furnishings … 94% Vacations … 92% (Adventure Travel … 70%/ $55B travel equipment) Houses … 91% D.I.Y. (major “home projects”) … 80% Consumer Electronics … 51% (66% home computers) Cars … 68% (influence 90%) Allconsumer purchases … 83%* Bank Account … 89% Household investment decisions … 67% Small business loans/biz starts … 70% Health Care … 80% *In the USA women hold >50% managerial positions including >50% purchasing officer positions; hence women also make the majority of commercial purchasing decisions.
“War has broken out over your home-improvement dollar, and Lowe’s has superpower Home Depot on the defensive. It’s not-so-secret ploy: Lure women.” —Forbes.com
Lowe’s “Home Depot is still very much a guy’s chain. But women, according to Lowe’s research, initiate 80 percent of all home-improvement purchase decisions— especially thebig ticket orders like kitchen cabinets, flooring and bathrooms. ‘We focused on a customer nobody in home improvement has focused on. Don’t get me wrong, but women are far more discriminating than men,’ says CEO Robert Tillman.” —Forbes.com
Women and Healthcare Women are … more dissatisfied, frustrated by the way they are treated … and spoken down to … by physicians, seek more information, are more pressed for time … and make 75% of health care decisions and control 2/3 of health care $$$$ [and constitute 2/3 of health care employees]. Source: Patricia Braus, Marketing Healthcare to Women
“Female users are the unsung heroines
behind the most engaging, fastest growing,
and valuable consumer internet and e-commerce companies. Especially when it comes to social and shopping, women rule the Internet. In e-commerce, female purchasing power is clear. Sites like Zappos Groupon, Gilt Groupe, Etsy, and Diapers are all driven by a majority of female customers. According to Gilt Groupe, women are 70% of the customers and 74% of revenue; and 77% of Groupon’s customers are female. But what’s different now is an exciting new crop of e-commerce companies. One King’s Lane, Plum District, Stella & Dot, Rent the Runway, Modcloth, BirchBox, Shoedazzle, Zazzle and Shopkickc are just a few examples of companies leveraging ‘girl power.’ The majority of these companies were also founded by women, which is also an exciting trend. And take a look at four of the new ‘horsemen’ of the consumer web—Facebook, Zygna, Groupon and Twitter. The majority of all four properties’ users are female. Make that ‘horsewomen.’
“So, if you’re at a consumer web company, how can this insight help you? Would you like to lower your cost of customer acquisition? Or grow revenue faster? Maybe you would benefit from having a larger base of female customers. If so, what would you change to make your product/service more attractive to female customers? Do you do enough product and user interface testing with female users? Have you figured out how to truly unleash the shopping and social power of women? You could also take a look at your team. Do you have women in key positions?”
1. The presence of more women in the workforce changes everything.
2. Delayed marriage means more money spent on “me.”
3. Lower birthrates globally means fewer kids but more “stuff.”
4. The divorce economy means two of everything.
5. The presence of more older women redefines target markets.
Source: Why She Buys: The New Strategy for Reaching the World’s Most Powerful Consumers, by Bridget Brennan [Key word: “World”—this applies literally everywhere]
Women as …
Purchasing agents: 55%
Purchasing managers: 42%
Wholesale/retail buyers: 52%
Source: Martha Barletta/TrendSight Group/0517.11
“The MOST SIGNIFICANT VARIABLE in EVERY sales situation is the GENDERof the buyer, and more importantly, how the salesperson communicates to the buyer’s gender.” —Jeffery Tobias Halter, Selling to Men, Selling to Women
“Women speak and hear a language of connection and intimacy, and men speak and hear a language of status and independence. Men communicate to obtain information, establish their status, and show independence. Women communicate to create relationships, encourage interaction, and exchange feelings.” —Judy Rosener, America’s Competitive Secret
Selling to men: THE TRANSACTION MODEL Selling to Women: THE RELATIONAL MODEL Source: Selling to Men, Selling to Women, Jeffery Tobias Halter