Study: Women of Tomorrow: U.S. Multicultural Insights (Neilson Consultants, 2012)
Finding: U.S. women are optimistic, expect to be earning a greater percentage of their household income in the future and feel in control of their household spending.
InPower Insight: Regardless of what you believe women’s impact is within an organization or culture, our economic impact is in fact very significant. Take your economic power seriously and spend your money wisely.
According to this study, women control most of their household’s money through their spending choices. Women are increasingly becoming the most powerful market demographic market, representing 60% of the world’s population and 78% of GDP. This study looked at the multicultural women’s market in the U.S. and found a resounding optimism across four ethnic segments.
In addition, all segments predicted that their contribution to their household income would increase, indicating a strengthening interest in their career development.
Though there were variations between segments, in all segments women are the primary purchase makers, feel new media is helping them and are experiencing increased stress overall. Interestingly, women in all segments want to include men more in purchasing decisions for everything except cars. Dive deeper into this study, and the accompanying article, for insights into marketing to the U.S. women’s segment.
Personal Coaching Tip: Economic power is part of your power as a woman. The decisions you make for yourself, your family and your business matter to the larger economy and thus can be part of your overall personal power assessment. If you’re looking at your shopping list as a “todo” list, or your company budget as a dreaded exercise, reframe them as ways of using your personal power and take responsibility for the impact you have when you decide how to spend your money. Negotiate for the best outcome, use the money wisely and watch your personal power meter go up.
Keywords: Advertisements, Company spending, Consumer spending