Number of women participating into the labour market is increasing over the years. Some are climbing the corporate ladder faster than men & thus have greater earning capacity. Some conventional profession once hold by men such as Engineering & IT are starting to be filled by more female workers
Most women buy things on impulse unlike men. As such, effective branding & advertisement is crucial to attract women buyers
Women are key decision makers in household
The market for goods & services for women is much larger than men. Things that the women desire can range from as sophisticated such as luxury handbags, ear rings, shoes, clothing & other accessories to expensive haircuts, cars & mortgages. There is no statistical evidence for this claim, but I believe that in a period of a year, frequency of changing handbags will be much greater than wallets. Applicable onto shoe too
Evidence of how much have women contribute to the economy (US data, 2007)
- Women accounted for 85% of consumer purchases including everything from auto to healthcare: new home (91%), new PC (66%), vacations (92%), healthcare (80%), new cars (65%), food (93%)
American women spend about $5 trillion annually, & that is more than half of US GDP
Women represent majority of online market
As much as 70% of new businesses are started by women
Women are willing to pay up to 28% or more for a product, if she believes & trusts the salesperson
No comments:
Post a Comment