In an earlier posting, I noted how influential women are in the American economy. For example:
Women make more than 80 percent of all consumer buying decisions, and 70 percent of all small-business startups in the past 15 years have been led by women.
It’s obvious that marketing to moms is vital. So, are big-time marketers listening?
Well, consider McDonald’s, which changed its menu and its interiors to attract more moms, and Unilever, whose “Real Beauty” campaign for Dove soap showcased real women instead of models.
Moms are the power spenders. They control 85-90% of all household spending. And their spending habits will dictate the end of the recession.
According to a BSM Media Study, household spending is projected to be $3 trillion in 2012, up from $2.1 million today.
In addition to controlling the spending, the majority of these household CEOs also work, providing much of the household income. From 1965 to 2000, the percent of working women with children under 18 grew from 45% to 78%.
How the thrift economy is affecting Mom purchases -
For the present, Moms are protecting the household budget.
Remember that opening line from the once omnipresent door-to-door vacuum cleaner salesman? Today the “power of the purse” is more significant than ever before as brands try to market to moms. Want proof? Try these facts on for size.
Women make more than 80 percent of all consumer buying decisions—and not just personal, home or family-centered purchases.