Overview
The differences between men and women have been celebrated and reviled in life and literature since the dawn of civilization. These differences have been stalked and continuously cultivated by snake charmers and pot peddlers of old as well as buy modern merchants of the information age. Because women spend $4 trillion dollars annually, market researchers and academics are now taking a hard look at the differences between the sexes as it applies to shopping and the apple of sales is now placed into high gloss mode.
Shopper (Photo credit: Wikipedia)
The Jungle in You
As civilization evolved and society transitioned from being hunters and gatherers into the machine and information ages, it seems that men and women have maintained ancient characteristics that determine how they react to and move about in the the concrete jungle. According to Delia Passi, founder of WomenCertified, a Florida based retail training and women’s consumer advocacy group, men approach the shopping process as hunters of old, and women approach shopping as gatherers. Passi also stated that women have better peripheral vision than men, which gives them an advantage in the gatherers role where they scan the environment and engage with sales people to find what they want. Women tend to savor the shopping experience. Men on the other hand approach shopping with a hunter’s mindset. They tend to zero in on specific items to purchase, and when they find it, they want to quickly pay for it and leave.
The Urge to Splurge
According to a study conducted by psychology professor Karen Pine of the University of Hertfordshire in England, women are more likely to spend and to spend more during times of high stress and feeling blue. Of the 700 women in the study, 60 percent said they would shop and overspend when “feeling a bit low” and 40 percent identified feeling “depressed” as the cause for the same behavior. Professor Pine interprets this behavior as an indication that women use shopping to self medicate, much as one would use alcohol or mood altering drugs. If this is the case, then the rush and high of shopping is countered by the reality bite of financial distress.
Hint to Sales: Silence Ain’t Golden
Women tend to immerse themselves in the shopping experience, scanning the environment, sampling wares, touching and smelling merchandise and interacting with the sales staff. According to the study “Men Buy, Women Shop,” conducted by the Wharton’s Jay H. Baker Retail Initiative and the Verde Group, a Toronto consulting firm, store loyalty for female customers is greatly influenced by the whether or not the sales staff are knowledgeable about the stores products and their ability to help her find the best product to meet her needs. Of the 1,205 women and men interviewed for the study, 30 percent of the women said they were most irritated by not being able to find a sales associate when they needed one. The real deal killer for female shoppers is being ignored by salespeople. 43 percent of the women said that being ignored by sales people would cause them to never shop at the offending store again.
It’s Cheaper to Please Her
The $4 trillion spent annually by women is two-thirds of this nation’s gross national product and is equal to 33 percent of the national debt. This is a powerful reality and proof of the importance of the female market. Finding out what women want and making sure they get it is an essential ingredient to business success in the 21st Century.
References
- “Knowledge@Wharton”: Men Buy, Women Shop: The Sexes Have Different Priorities When Walking Down the Aisles; Nov 28, 2007 http://knowledge.wharton.upenn.edu/article.cfm?articleid=1848
- University of Hertfordshire; Depressed Women Shop and Spend More; Jun 3, 2009 http://www.marketingcharts.com/topics/depressed-women-shop-spend-more-9315/
- Market Watch; Different Sides of the Isle: Men on a mission, Women on an Adventure When Shopping; Jennifer Waters; 2011 http://www.marketwatch.com/story/men-shop-as-hunters-women-shop-as-gatherers
