Today, women are well educated, travel, and live alone in new cities, and they form a mobile workforce. Women are active in almost all sectors, such as engineering, manufacturing, construction, hospitality, healthcare, entertainment and TV, and many other sectors. Thus, the earning power of women has increased, and they do not have to depend on their husbands, fathers, brothers, or partners to buy products2.
Statistics: In USA, high net worth women make up 39 percent of the top earners while 2.5 million women have assets of $ 4.2 trillion. About 43 percent of women in USA have assets of more than $ 500,000. Estimates until 2020 indicate that women will control and manage about two thirds of the national wealth and control about $ 40 trillion. Generally, women make 95 percent of the decisions to buy a large number of products, while in groceries; they make 99 percent of the decisions. Estimates indicate that women are the decision makers for 85 percent of all consumer goods, 91% of new homes, 92 percent for vacations, 65 percent for new cars and 93 percent for pharmaceuticals, beauty products and personal hygiene items. Women also participate in online buying and 22 percent shop online almost daily, and they post reviews about their purchase, post messages in social media and write to marketing firms about their pleasure or displeasure3.
Loyalty: Studies indicate that womens loyalty is less for some types of products such as consumer goods, groceries and toiletries. They look at a number of factors such as product quality and price and they would be willing to try new products that are recommended by friends or that cost less, but the products must meet the expected quality requirement. Celebrity endorsements have limited appeal, unless women like the products. Women also tend to be more loyal to the service provider such as the waiter, ...Show more