When it comes to the dynamics of the marketplace women have changed the game. Forty‐ two percent of women agree, “I regularly influence friends and family to buy or not buy a particular product or service,” – up significantly from September 2008. In addition, 54% agree “I feel it is my responsibility to help friends and family make smart purchase decisions.” Women today are consumers, broadcasters, and amplifiers of ideas in the marketplace; expect these recommendation and word‐ of‐mouth dynamics to continue intensifying.
The economy is by far women’s strongest concerns, and this concern continues to weigh heavily on their minds, and shopping decisions.
- Seventy‐one percent agree, “Life is more complex today than it was before the recession”
- 75% agree, “I shop differently now than I did before the recession.”
Economic concerns have intensified women’s decidedly utilitarian approach to the marketplace. They seek value, quality, performance, and above all, substance. She generally prefers a solid “good” choice over a more expensive “great” choice. In many cases, she researches purchases thoroughly, and applies complex, category‐specific decision rules in making marketplace choices. And again, her influence within the family, and in broader circles as well, has led to an amplification of her preferences – in a very real sense, her preferences have become the de facto defining preferences for today’s marketplace.