About Our Target Market
91% of women feel that advertisers don’t understand them. (Source: Yankelovich Monitor and Greenfield Online)
CONSUMER: Women drive 70-80% of all consumer purchasing, through a combination of their buying power and influence. Influence means that even when a woman isn’t paying for something herself, she is often the influence or veto vote behind someone else’s purchase.
- 91% of New Homes
- 66% PCs
- 92% Vacations
- 80% Healthcare
- 65% New Cars
- 89% Bank Accounts
- 93% Food
- 93% OTC Pharmaceuticals
MULTIPLIER: Because women serve as primary caregivers for children and the elderly in virtually every society in the world, women buy on behalf of the people who live in their households, as well as for extended family (such as older parents and in-laws) and friends.
PURCHASING POWER: There are several important trends driving the world’s female population that impact their purchasing patterns. Three of them are: 1) Globally, more women are the labor force than ever before; 2) Women are getting married at older ages 3) Women (and men) are having fewer children than previous generations.
EARNING & SPENDING: Women are earning, spending, and influencing spending at a greater rate than ever before. In fact, women account for $7 trillion in consumer and business spending in the United States, and over the next decade, they will control two thirds of consumer wealth. Women make or influence 85% of all purchasing decisions, and purchase over 50% of traditional male products, including automobiles, home improvement products and consumer electronics.
– The average American woman is expected to earn more than the average American male by 2028
– 51% of U.S. Private wealth is controlled by women
– Women account for over 50% of all stock ownership in the U.S.
– Women control more than 60% of all personal wealth in the U.S.
– Women account for 85% of all consumer purchases including everything from autos to health care
– Women make 80% of healthcare decisions and 68 percent of new car purchase decisions
– 75% of women identified themselves as the primary shoppers for their households
-Women influenced $90 billion of consumer electronic purchases in 2007
– Nearly 50% of women say they want more green choices, with 37% are more likely to pay attention to brands that are committed to environmental causes
Women and Cars
– Women buy more than half of the new cars in the U.S., and influence up to 80% of all car purchases
– Women request 65% of the service work done at dealerships
– Women spend over $200 billion on new cars & mechanical servicing of vehicles each year
– Moms represent a $2.4 trillion market
– 55% of active (daily) social media moms said they made their purchase because of a recommendation from a personal review blog
– 18.3 million Internet users who are moms read blogs at least once a month
– In 2014, 63% (nearly 21 million) of all online moms will read blogs
– Moms mention brands an average of 73 times per week compared with just 57 times per week among males
– 77% of mom bloggers will only write about products or brands whose reputations they approve of.
– Another 14% will write about brands or products they boycott
– 90% of moms are online vs. just 76% of women in general
– 64% of moms ask other mothers for advice before they purchase a new product and 63% of all mothers surveyed consider other moms the most credible experts when they have questions
– As early as 2000, women were found to have surpassed men in Internet usage
– 78% of women in the US use the Internet for product information before making a purchase
– 33% research products and services on-line before buying offline
– Women account for 58% of all total online spending
– 22% shop online at least once a day
– 92% pass along information about deals or finds to others
– The average number of contacts in their e-mail or mobile lists is 171
– 76% want to be part of a special or select panel
– 58% would toss a TV if they had to get rid of one digital device (only 11% would ditch their laptops)
Women in Business
– Over 9 million businesses are owned by women (50% or more), employing more than 8 million people, and generating $1.4 trillion in sales as of 2008.
– Women-owned firms (50% or more) account for 40% of all privately held firms.
– One in five firms with revenue of $1 million or more is woman-owned.
– 76% question whether most companies understand their needs as women.
– Women now make up 40% of new directors on Fortune 100 boards.
Sources: TheNext, She-Economy, Ms Smith Marketing, StartUpNation, Clickz, Inc.com, Girl Power Marketing, Catalyst, Forbes, Yankelovich Monitor & Greenfield Online, Entrepreneur Tracking Study, Linkage Research, American Express