Winning With Female Shoppers This Holiday Season Can Reap Gifts All Year Round

For companies and consumers alike, this is an exciting time of year. Shoppers’ excitement over Black Friday and Cyber Monday deals is at its peak.  The National Retail Federation estimates that sales this holiday season will be 4.1 percent higher than last year, totaling $586.1 billion.  On Black Friday and Cyber Monday alone this year’s sales were a record breaking 28 percent and 17 percent higher than last year (Source:  Comscore).  For some retailers and marketers this is a nail biting, performance defining time of year.  They anxiously await the final sales figures hoping that their marketing programs successfully attracted holiday shoppers. 

Consumers, in search of the ideal gift and great sales this holiday season, will shop at a variety of retailers and are willing to try new brands.  This represents a huge opportunity for retailers and brands to entice new shoppers who they may not otherwise reach.  Since female shoppers account for over 80 percent of consumer spending, or about $5 trillion annually (according to the U.S. Census Bureau), the team at Insights in Marketing, LLC wondered if holiday shopping motivations are similar among women; and, if not, how their motivations differ.

Findings from our i-on-women team’s study of U.S. women would suggest that women vary greatly in their purchase behavior and that their motivations differ…even throughout the holiday season.  Here’s how:

• Status Seekers:  About 26 percent of female shoppers are higher income, image driven shoppers who believe they deserve to pamper themselves and are therefore more likely to splurge on themselves.  For them, shopping and their purchases help validate their social status.  They are likely to be shopping for high quality, well-known brands, but they are also very busy and less likely to spend a lot of time shopping around for the best deal.  Offering “exclusive deals” on high-end merchandise will attract these shoppers.
   
• Traditional Family Pleasers:  Just over 40 percent of women value tradition and the majority of these women are focused on home and family.  For these women, shopping is less about her need to spoil herself but is more about her family.  She is likely to spend the holiday season searching for the perfect gift for members of her family.  Marketers should help her navigate the sea of what is available to find the ‘ideal’ gift for specific family members.
   
• Budget Constrained and Dispirited:   We estimate that nearly 20 percent of women are less optimistic about their lives and the holiday season.  Their concern about their limited finances and uncertainty about their future will keep them focused on finding things their family needs at the best possible price.  These women will study the circulars, search the web, and combine discounts, all in an effort to stretch her limited budget to get what she/her family needs.
   
• Experience Seekers:  The balance of women are what can best be described as enthusiastic and voracious shoppers who go out shopping for specific items but are be easily wooed into purchasing much more than what is on their ‘list’.  These women are big on spoiling themselves and others.  They are very energetic and will probably shop more stores or more hours than other female shoppers.  They have short attention spans and are constantly looking for what is new/novel.  Fun and unique gifts, BOGOs, limited inventory or limited time offers will attract these shoppers.

With millions of shoppers hitting the stores this season, the real winners will be the companies that do more than lure consumers with deep discounts.  The true measure of success will be how much of the season’s trial purchases will be converted into repeat purchases throughout the coming year.  Our research would suggest that the companies whose messages and products successfully connect with their female shoppers will win.  Connecting with these varied groups will require a well-rounded multifaceted strategy and marketing program that takes into account the unique needs of shoppers.

To learn more about our research and Insights in Marketing, LLC, please visit:  www.insightsinmarketing.com.  To learn more about the i-on-women team, please visit its webpage. 

773.972.7060

lauren@connectcomsinc.com

About i-on-Women:

i-on-Women is a division of Insights in Marketing, LLC, a full-service marketing research consultancy that is changing the way marketers connect and win with women. To learn more about i-on-Women, please visit their webpage. To learn more about Insights in Marketing, LLC visit its Website, Blog, LinkedIn , Facebook page and Twitter feed. 

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