Why don’t marketers understand women?

  • Women control over $20 Trillion in world-wide spending.
  • Women control $7 Trillion in U.S. spending.
  • Women Account for 85% of overall consumer spending, including everything from autos to health care.

Women process information and make purchasing decisions differently than men.

  • 91% in one survey said that advertisers don’t understand them
  • 84% feel misunderstood by investment marketers (Source: Yankelovich Monitor)
  • 74% feel misunderstood by automotive marketers
  • 70% of new businesses are started by women
  • 66% feel misunderstood by health care marketers
  • 59% of women feel misunderstood by food marketers.

Why? [inlinetweet prefix=”” tweeter=”” suffix=””]Because most advertising and brand executives are men and, frankly, that’s hurting their brand. [/inlinetweet]

Women Account for 85% of overall consumer spending, including everything from autos to health care.

  • 93% Food
  • 93% OTC Pharmaceuticals
  • 92% Vacations
  • 91% of New Homes
  • 89% Bank Accounts
  • 80% Healthcare
  • 66% PCs
  • 65% New Cars
  • 58% of Total Online Spending

Couple with these stats with the fact that most women feel that brand have broken their promise and you understand why private label sales are increasing in almost all categories.

The female market is an under-developed opportunity, possibly the number-one opportunity, for those who really understand what women really want.

Women are now the key decision-makers. Faith Popcorn, one of America’s consumer trend experts, says: “Companies think they’re marketing to women – who buy 80% of the products and control 80% of the money – but they’re not. They’re not talking to women. They don’t know how to talk to women. Just like they have no clue what to give their wives for their birthdays. They really don’t realize that women have a separate language and a separate way of being.”

About richmeyer

Rich is a passionate marketer who is able to quickly understand what turns a prospect into a customer. He challenges the status quo and always asks "what can we do better"? He knows how to take analytics and turn them into opportunities and he is a great communicator.

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