Why? Because they are America’s biggest consumers. According to Martha Barletta, author of Marketing to Women:
Women influence 95% of all purchases and control 80% of all household spending.
She specifically points out their spending habits in these categories:
- Domestic Products
“Buying the ‘small stuff’ has always been in the woman’s domain. Part of her domestic duties as wife and mother has been to keep the family healthy, warm, and well nourished. From the family meal to the family doctor, from shirts for her husband to shoes for her kids, chances are those choices have always been hers.
“What many marketers haven’t caught onto yet, though, is that women’s spending power now extends far beyond shoelaces and shirts.”
- Big-Ticket Items
“In the past, the big-ticket items like cars, insurance policies, and major appliances were historically bought by – and therefore marketed to – men. Things have changed! Nowadays, women need their own cars, their own computers, their own cell phones, and their own investment accounts – among many other new big-ticket items – and so manufacturers are facing a whole new market.”
- The Buying Power of Single Women
“Get this: Single women head 27 percent of households in the United States. Did you register that? More than one out of four U.S. households! Thus, a substantial portion of the market for cars, computers, and cell phones, for instance, is dominated by women serving as sole decision makers.”
- The Buying Power of Married Women
“Looking at married households (55 percent of U.S. HH), the fact of the matter is that the woman of the house spends not her own paycheck but a good deal of her partner’s as well. She still handles all the domestic spending. And when it comes to the big-ticket items, not only is she buying her own products – like the single women above – but she also has a disproportionate say in the shared decisions, such as cars, investment accounts, and family vacations.”
So, what’s the “take-away” from all this information? Again, it’s that – Women influence 95% of all purchases and control 80% of all household spending.
Marsha Friedman launched EMS Incorporated in 1990. Her firm represents corporations and experts in a wide array of fields such as business, health, food, lifestyle, politics, finance, law, sports and entertainment. She consults individuals and businesses on a daily basis and is frequently asked to speak at conferences about how to harness the power of publicity.