Insights in Marketing Research Reveals Opportunity for Marketers to Connect with Single Women
Single women outnumber and outspend men, and yet, brands aren’t hearing them
CHICAGO – December 11, 2014 – Nearly 56 million women make up the single female population in the United States, and a recent study from Insights in Marketing, LLC (IIM), a research-based marketing consultancy in the Chicago area, outlines powerful ways for brands to connect with them. Insights in Marketing’s research analyzes what drives single women, identifies where and how they spend money, and uncovers ways to more effectively speak with them.
“Women in the U.S. have incredible spending power and influence. They control more than $7 trillion in domestic spending and make 85 percent of purchase decisions across most major categories,” said Jessica Ritzo, Director of Qualitative Research with IIM. “Of 104 million single people in the country, 54 percent are women. We know that they spend more per year, on average, than men, and offer an array of opportunities for marketers. And yet, marketers are falling short in winning them over.”
On average, single women spend $30,000 a year, which is $4,000 more than their male counterparts, according to the U.S. Bureau of Labor Statistics. Of those expenditures, IIM found that 60 percent is on eating/dining out and 56 percent is on shopping. Ritzo points out that brands can get a larger piece of the pie by tweaking their approach to women. “We know that single women have expendable income and that they are, indeed, spending it. That’s the first part of the battle,” says Ritzo. “Now, marketers have to hone in on what truly matters to these women. That’s where our deeper, contextual insights come in.”
Research by IIM uncovered the following:
Single women are skeptics.
- Only 27 percent report they learn a lot from advertising, versus 59 percent of women who aren’t single.
- Only 18 percent of single women actually trust advertisers, versus 24 percent of women who aren’t single.
- Trust levels vary by age with millennials showing the most opportunity
Single women are experimental and opinionated.
- 60 percent say they experiment with new things.
- 65 percent claim they’re not afraid to express their opinions.
- 30 percent share opinions about products or services through online reviews and ratings.
- 36 percent say others seek their advice before making a purchase.
Single women are more likely motivated by curiosity or acceptance.
- By appealing to these core motivators, and by understanding what these women consider strengths (openness or recognition), marketers can better capture their attention.
By analyzing the psychology behind single women, IIM uncovers a complete consumer understanding and captures what motivates them. The consultancy shares that information with brands, helping marketers to maximize their impact.
To learn more about this study and others, please visit http://www.insightsinmarketing.com/media/49205/iim_insights_singles_december_2014_final.pdf
About Insights in Marketing, LLC:
Insights in Marketing, LLC. (IIM) is a research-based marketing consultancy that connects people to brands. IIM leverages its 25 years of studying people and unique, in-depth approaches to capture the subconscious drivers of behavior that help brands understand the complete person behind their consumer. With this psychology-based approach and rich brand-building experience, IIM helps clients talk with, not at, their target consumer to maximize brand impact. For more information about IIM, visit the IIM website, blog, LinkedIn, Facebook page and Twitter feed.
Lauren Russ at 773.868.0966 or email@example.com