Nielsen: U.S. Women Control The Purse Strings
April 10, 2013 at 5:00 AM (PT)
Many radio stations are focused on female demos -- and a new study from NIELSEN explains why. "Women have tremendous spending power in AMERICA today -- and it’s growing," writes the ratings company. "Market estimates about their total purchasing prowess varies, ranging anywhere from $5 trillion to $15 trillion annually. And the scope of that spending is notably vast. FLEISHMAN-HILLARD INC. estimates that women will control two-thirds of the consumer wealth in the U.S. over the next decade and be the beneficiaries of the largest transference of wealth in our country’s history -- compelling insight for anyone curious about who’s keeping the U.S. economy going these days."
But it's not just consumer goods that wome are involved with. The report notes, "They’re also likely to influence or manage many other big ticket purchases -- homes, autos, appliances, furniture, etc. -- not to mention a large portion of the apparel, groceries and everyday purchases."
What's the difference in the way women and men shop? "Female shopping trips are most important to the mass merchandiser and dollar-store channels, while male shopping trips are of greater relative importance within convenience/gas, grocery and warehouse club outlets," found NIELSEN. "Women spend more money per trip than men in all of the channels examined, but in many channels, the differences between the sexes are not as great as one might expect. Nevertheless, spending differences do indicate that women drive the larger stock-up or planned trips as they outspend males by $14.31 per trip in supercenters and by $10.32 per trip in grocery stores."