I just read an astounding book called, Why She Buys by Bridget Brennan that I highly recommend to any individual or business marketing solely to women OR seeking to add women to their market share.
Let me share with you statistics from Why She Buys (pages 36-40) about the percentage of direct buying power or influence that women in the US and globally have or will have on purchasing decisions in many industries.
Apparel: 65% of purchases made by women
Automotive: 52% of new vehicle purchases made by women; 80% influenced by women
Consumer Electronics: 45% of purchases made by women; 61% influenced by women
Health Care: 80% of family health care decisions made by women
Travel: 70% of decisions made by women
Insurance, Investments, Retirement: 90% of women participate in these decisions
Homes: 20% of purchases made by single women; 91% influenced by women
Wine: 55% of all purchases made by women
Gaming: 40% of players are women
WOW! Why She Buys is chock-full of insights on what women's purchasing power means for companies, advertising and marketing, trending information and real-life examples of campaigns that did and did not work. Two other interesting books you may enjoy are Blue Ocean Strategy and microtrends. What I can see and what is underneath what I see can make the difference between success and failure in my business, and in the shape of my branding. Exciting times to be an entrepreneur!
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