9/1/13
In 2011, women’s top concern was the economy, and now, in 2013, their child’s future is the biggest anxiety, according to Fleishman-Hillard, Hearst magazines, and Ipsos MediaCT. Women today are more likely than two years ago to describe themselves as “independent,” “successful,” “ambitious,” “decisive,” and “knowledgeable.” “Smart” is another identifier, and millennial women (70%) are more likely than Gen X (63%) and boomer women (57%) to describe themselves as smart.
There are a few notable purchasing differences based on race/ethnicity. Black and Hispanic women are more likely than white women to prefer to buy luxury brands (44%, 40%, 28%), be influenced by advertising (37%, 38%, 24%) and to feel their purchase recommendations are very influential (43%, 43%, 30%).
More than four in 10 women feel men and women are equal in the home, education, business, and in general society. Women, however, feel more successful then men in making household decisions and feel men are more successful in business and politics. Both men and women agree there are salary inequalities. Nine in 10 women (90%) and 75% of men say “men are often paid more than women, even for doing the same work.” That said, age dictates the perception of gender equality. Boomer women are more likely than millennial women to see points of differences between men and women.
Most women (75%) and men (66%) say they are very fortunate to have their spouse/partner in their lives. Although 66% of women say they are equally responsible for financial decisions, there’s a disconnect driven by the definition of “responsibility.” Women make most day-to-day purchase decisions, while men offer an occasional preference. As such, men feel their minimal input is considered “equal” whereas women feel it’s nonexistent. The disparity is particularly notable for financial decisions. Nonetheless, regardless of which gender holds the final vote, 90% of men and women agree with their spouse’s purchases most or all of the time.
Women identify themselves as smart shoppers. Nearly all (98%) take pride in making smart purchase decisions, and 91% say good value for the money is more important than price. Most women (84%) wait for something to go on sale before they buy.
Three in four women (74%) would rather spend money on experiences than things, compared to 65% of men. Meanwhile, women are less likely than men to buy brands they grew up with (45% vs. 60%) and to prefer to purchase luxury brands (28% vs. 38%).
More than four in 10 women (43%) are overwhelmed by all of the product choices available these days. When options overwhelm women, they become even more price-sensitive and default to purchasing whatever is on sale.
“Reliability” is a key term when women name their “most trusted brand.” They also tend to prefer brands that are solid, functional, and utilitarian. Boomer women are more likely than younger women to prefer brands that are socially responsible. Gen Y women, on the other hand, are more likely to like brands that offer loyalty programs. Men are more likely than women to prefer brands known for innovation.
Fewer than three in 10 women (29%) describe themselves as loyal to a specific brand. Boomer women are most loyal to beauty brands, Gen X women are most loyal to personal care brands, and millennial women are most loyal to automotive and technology brands.
Women make purchasing decisions based on many factors. They seek information from customer reviews (76%), input from family and friends (68%), expert reviews (60%), and other mentions heard in the media. Women are less likely to base purchases on advertising (24%) or celebrity endorsements (5%). Men are more likely than women to be influenced by celebrity endorsements.
SOURCES: Fleishman-Hillard, Lisa Dimino, SVP, Senior Partner, 220 E. 42nd St., 12th Fl., New York, NY 10017; 212-453-2000; lisa.dimino@fleishman.com; www.fleishmanhillard.com.
Hearst magazines, Marlene Greenfield, VP, Executive Director, Research, 300 W. 57th St., 12th Fl., New York, NY 10019; 212-649-4401; mgreenfield@hearst.com; www.hearst.com.
Ipsos MediaCT, Steve Kraus, Chief Research, Insights Officer, 49 Stevenson St., 15th Fl., San Francisco, CA 94105; 415-293-9711; steve.kraus@ipsos.com; www.ipsos-na.com.
© 2013 Business Valuation Resources, LLC (BVR). May not be reproduced without written consent of publisher.