You Think You Know Women?
October 11, 2011
You think you know women? Here are eight things you don't know.
I'm not female. I don't even play one on TV. But you don't have to be female to find this interesting:
- 80% of all (male, female, and child) apparel purchases are made by women.
- 52% of all new vehicle purchases are made by women, and 85% are influenced by a woman.
- 40% of all electronics purchases are made by women, and 61% are influenced by a woman.
- 70% of health care decisions are made by women.
- 70% of travel decisions are made by women.
- 90% of women participate in decisions that affect household investment and retirement accounts.
- 20% of home purchases are made by single women, and 90% of all real estate purchases are influenced by a woman.
- 55% of wine purchases are made by women.
All of these stats, and a lot more are in a fascinating book entitled, Why She Buys: The New Strategy For Reaching The World's Most Powerful Consumers by Bridget Brennan
If you can see a category there that you're willing to kiss off, you're in better shape than most media operators I know.
According to the Boston Consulting Group, women are poised to drive the post-recession world economy because the vast majority of new income growth over the next decade will go to women.
This growth represents the biggest emerging market in the history of the planet -- more than twice the size of the two hottest developing markets, India and China, combined.
I bet if you grab the smartest women you know, ask the right questions and really listen to their answers, you'll be a lot smarter about your business tomorrow than you were this morning.