By: Cathy Droz, Founder – HER Certified
Women are earning, spending, and influencing spending at a greater rate than ever before. In fact, women account for $7 trillion in consumer and business spending in the United States. Over the next decade, we will control two-thirds of consumer wealth. Women make or influence 85% of purchasing decisions and purchase over 50% of traditional male products, including automobiles.
This is from the book I wrote called, “A Woman’s Guide to buying a car with CONFIDENCE and STREET SMARTS.” These statistics are why the sub-title reads: “Don’t Let these High Heels Fool You!” In part I wrote this book to give retailers an up front and personal look at the buying power of women. It’s not only auto dealers that get complaints from women about respect; as 92% of women surveyed say that advertisers in general, don’t understand them. Companies want to attract women buyers, but they don’t think past the pink water bottle or a mini-van ad showing a woman loading four kids into it.
I keep hearing that 2016 is the year of the woman… Is that because Hillary is running for President or Jennifer Lawrence is demanding men and women in Hollywood having equal pay? Better yet, is it because smart retailers are keeping track of big ticket items purchased by women on their credit cards, for their companies? Maybe a combination of all of the above.
Let me leave you with this statistic… The average woman spends an incredible $54,000 on shoes during the course of her lifetime… now THAT’s buying power.