When asked what it is they want out of life, women say they want it all. They want a career and family, they want technology but also time to disconnect. They want quality goods but don’t want to pay more to get them. They want to have fun but they also want financial stability.
Women want it all. . . but since most of us can’t have it that way, we’ve learned to fight one or two battles at a time.
According to Ginger Consulting’s fifth annual “What Women Want” survey, women are responsible for or influence $7 trillion in purchases in the US. They’re responsible for 85% of products and services, 60% of automobile purchases and even 40% of stock purchases. To put it simply, these are people you want on your side.
What’s interesting about the “What Women Want” survey is that it has data from two groups of women. One group – the mainstream market- is made up of average women, age 21 to 60, from all over the US.
The second group – the alphas – are consumer influencers. They live in one of ten major US cities and they tend to be ahead of the curve by six months to two years.
Let’s see how the differ:
34% of Alphas said they were doing well and 49% had one or two big vacations on the top of their budget list.
On the mainstream side, only 15% of women said they were doing well. Their top priority? Paying down old debts. Only 22% had vacations on the list.
The Art of the Deal
Everyone wants a deal, even the alpha women who can afford to pay more. Still, 26% said they want nice brands but prefer to pay less to get them. 26% said that deal shopping had become a habit because deals are so easy to find. Only 11% were drawn in by the thrill of getting a bargain.
On the mainstream side, 36% said they need deals in order to make ends meet. 23% said it was the thrill of the hunt, and only 16% said it was a way of getting nicer brands within their budget.
The takeaway here is that retailers have taught shoppers to look for deals. They’re more interested in getting 50% off a $100 dress then buying the same dress for $50. Same price, same item, but the perception is different. So, forget lowering your prices, just offer more coupon codes if you want shoppers to keep shopping.
You know that old saying, “it’s the thought that counts”? Apparently, it’s not. Here’s a look at how both alpha and mainstream women responded when asked what they would like for their special day.
And men, if you really want to make your lady’s day, throw out your clutter. 52% of women said that would make them very, very happy.