Targeting the female consumers

Women are responsible for the majority of shopping in most of the world economies. The female consumers are usually the one’s purchasing the grocery, cloth and school supplies for the kids. But the role of that that the women consumers play goes deeper than simply shopping for the household regulars. The role that the female consumer plays in the economy as developed over the years and marketers are beginning to understand the importance of the female consumers in the market place. According to Kelly Westman, “Today's woman is sophisticated, educated, savvy and, most importantly, more independent than ever before”.
MasterCard Canada conducted a detailed study of 2,088 women that explores their attitude and behavior over their lifetime. The findings identified 5 life stages of the female consumers: Emerging Consumers, New Earners, Moms, The Established and Silver Spenders.

The key findings are as follow:     

• Canadian women are cast in many financial roles through the course of their lifetime, and those roles shape how they spend, where they shop, and how they feel about their finances
• At each life stage, women's economic circumstances are markedly different and their behavior and attitudes as consumers change.
• Canada's most powerful female consumers are the New Earners. Simply put, working full-time equates to more disposable income.
• Motherhood is the turning point that transforms women from individual spenders into the Chief Purchasing Officer of their households, a role they embrace.
• Indulgences: when asked what one thing they would always spend money on to treat themselves, women were most likely to say a food/restaurant purchase (25 per cent), followed by new clothes or shoes (14 per cent). Among Moms, simple treats like coffee in the morning (nine per cent) or a magazine or book (eight per cent) rise in significance

 Another major survey, recently conducted by market researchers ACNeilsen Panel Track and Hardliners, an electronic news service for the home improvement industry, indicates that women now make 80 percent of the decisions about where to go shopping. Women  love to shop but it is important to understand that it is not only the purchase that women love; it's the shopping experience itself that make them tick. Most Companies are finding ways to appeal to women consumers while others are struggling to find their footings and as result women are still underserved in many consumer categories.  The companies that are capitalizing on the opportunities to satisfy the women consumers are the one’s who understand the things that makes them tick. Women consumers, more so than men, care about whom they purchase from. Women will pay a premium for a product or choose to shop at a particular store if they feel that the business owner is trying to make a difference in the world. Most females will support a retailer or identify with a brand if they feel that they can trust the company and its products. Once they find a store that they feel comfortable dealing with, they are loyal supporters. Jennier Reed, vice-president of public affairs says, "Canadian women generally embrace their role as important drivers of the consumer economy

Woman, none the less, aren’t hardwired and they are enticed by different taste. "Advertising to women is about learning the truth, and the truth isn't about the product- it's about the person using it," wrote Joanne Thomas Yaccato, president of the Thomas Yaccato Group in Toronto, in her bestselling marketing book, the 80% Minority (Viking Canada, 2003).
Women spend more time and put more effort in their shopping habits than men do. Women spend a greater deal of time seeking out bargains and deals. Working with a limited budget, women consumers are the ones that find the means and ways to manage the household. Jennier Reed, vice-president of public affairs says, "Canadian women generally embrace their role as important drivers of the consumer economy. Understanding women consumers and targeting them successfully takes good market research, good marking and the offering of quality products.