Consumer Behavior and The New Woman

Women control or influence 85% of all consumer brand purchases.

How should advertisers market to women? Stephanie Holland of the “She-econonomy” blog was one of several fantastic speakers at the recent Southeastern P.R.S.A. 12, who spoke about the changing role of women consumers, particularly since the recession.  “Women have changed and we’re not getting put back in the box,” said Holland who used as one example the need for “life stage”s rather than ages of women in characterizing them.  “A 40 year old female might be the mother of a toddler or she might have a child in college.” Advertising has changed forever thanks to social media, women and money she said. “We no longer trust the government, corporations or big business but we trust each other, ” said Holland. “The consumer is in control.”

Some other interesting facts presented by Holland:

83% of women are busier than ever but they are not willing to give up anything

36% of women hold a bachelor’s degree

28% of men hold a bachelor’s degree

70% of all new businesses are started by women

4 out of 5 stages of the purchasing process are led by women

85% of all consumer brand purchases are controlled or influenced by women

BUT 91% of women do not feel advertisers connect with them. Holland says brands need to “listen and engage with women for success.”  Holland showed this amusing video to illustrate the big disconnect between what advertisers think and women’s real consumer behavior. What are your thoughts? If you are female, do you relate to the woman in this video? (I know I do!)