Thursday, March 19, 2009

Recession-hit companies target female consumers -- The Economist

According to a recent article in The Economist, companies are "taking a different track and trying to get customers to open their purses instead" of their wallets. See story here:

Makes perfect sense to me as women, who account for nearly 85% of the household purchases, are the ones who must buy at least some things and will most certainly shop us out of this economy.

It still astounds me that these facts are considered "news." Women have been the primary household shopper for decades. What's more newsworthy now, I think, is what Marti Barletta points out in The Economist piece. She references that 80% of the recession-related job losses have been suffered by men. That means that women are now packing a powerful two-punch of making the purchase decisions and bringing in more of the household income.

Marketers, take note. You must be marketing to multi-minding women. Your future depends on it.

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