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How To Market To Women
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Article 1: The Power Of The Purse
Although women represent 51.4 percent of the U.S. population, they’re responsible for 85 percent of the consumer spending—and we’re not just talking groceries and clothing. In fact, women make 70 percent of all travel decisions, complete 57 percent of electronics purchases, and buy 65 percent of all new automobiles.
And women have plenty to spend. A few facts:
Women now earn $1 trillion a year, a 63 percent increase (adjusted for inflation) from 30 years ago. Women spend more than $2 trillion annually—from their paychecks and their partners’. Women earn less than men overall—76 percent of men’s earnings—but the wage gap is shrinking and is smaller between younger men and women. Women are in charge of 51 percent of the private wealth in the United States, and by 2010 it’s estimated that women will control 60 percent of it.
If you’re not actively reaching out to women customers, you could be missing out on the most profitable segment of your business.
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