Working Women Statistics and What Women Want, Surprises?

Welcome to the “What Woman Want” series for addressing that age-old issue. Let’s first focus on the facts about working women statistics, women shopping and what women buy.

There are no surprises here, women love to buy.

Women are responsible for 83 percent of all consumer purchases, including:

• 92 percent of home furnishings,
• 92 percent of vacations,
• 91 percent of all homes,
• 51 percent of all consumer electronics, and
• 60 percent of all car purchases (they actually influence 90 percent).

Regarding spending and the power of women and money:

• The third largest consumer group is American men.
• The second largest consumer group is all of Japan.
• The Earth’s largest consumer group is women, spending approximately $5 trillion.

To capture the woman buyer you have to understand the woman psyche. Women live with a never-ending to-do list, and the pressure to get that list under control triggers stress. A stressed-out buyer is low on patience around poor service and, regarding the telephone, women have a tolerance level of nine to 11 minutes. Also, women shop the Internet more than men.

Women buy differently than men. They have a different perception of value and at the top of their list are trust and respect, or they won’t buy. Women want you to help make their lives easier and to experience enjoyment in the buying process. They love to buy for themselves as well as for others. Women buy from a space of how it feels as well as ease, rather than practicality and speed, which is largely the male-dominated approach to buying.

Some key perspectives around women, trust and loyalty. Women believe:

• If I trust a brand I will recommend it—83-percent belief factor
• Selecting a brand I trust saves me time—75-percent belief factor
• Selecting a brand I trust makes my life easier—72-percent belief factor
• I am willing to pay more for brands I trust—70-percent belief factor

Marketers know that trust is central to loyalty for women. While advertising generates buzz, women generate talk and a lot of it. Women recommend a product they believe in three times more than men.

Women rule the checkbook and the credit cards, and they are having an impact on your business every day. It’s time to start considering what women want and how to capture this consumer group.

This series, “What Women Want,” will appear occassionally in print throughout 2008. Renie Cavallari is c.e.o. and chief inspirational officer for Aspire, a training and consulting company improving leadership style positioning organizations. Her online column appears regularly on http://www.HotelMotel.com/. For more information visit http://www.aspiremarketing.com/, e-mail Renie at renie@aspiremarketing.com
or call Aspire at (602) 392-0700.