Nearly 85 percent of all consumer purchases are made by women, according to several sources. Plus, 65 percent of all new car purchases are influenced by women. Additionally, when looking at the female demographic, consider this: Millennial, Gen X and Boomer women are not that different. This may seem counter-intuitive, but MediaPost.com recently reported that, across multiple studies, many similarities rather than differences exist among women of Millennial, Gen X and Boomer generations.
“Our findings might surprise you,” says MediaPost. “Despite some key distinctions in areas such as communication preferences and smartphone usage, women of all ages share similarities when it comes to their shopping habits and use of social media.” These similarities are important to keep in mind when you’re planning your advertising and marketing efforts that are focused on female customers and prospects.
Here are some of MediaPost’s findings:
1. Across generations, women are heavy users of social media
Facebook is the great common denominator in social media, with 91% of all women visiting at least once a week, and no meaningful differences between Boomers (88%), Gen X (91%) and Millennials (93%)
2. Despite age differences, women share similar purchasing habits
Across all ages, price (74%, +/- 2% for each generation) trumps convenience (26%, +/- 2% )
3. ECommerce is a shared behavior: 72% of Millennials make purchases on their phones (compared with 65% of Gen X and 38% of Boomers), but all generations are likely to make online purchases via desktop or laptop (74% Millennials, 76% Gen X and 81% Boomers),
4. Not surprisingly, Millennials are more comfortable with smartphones
70% of Millennial and 65% of Gen X women use their smartphone or tablet each week as part of their shopping process, with 20% of Millennial women saying they plan to make more purchases on their mobile phones in the next six months.
Brands have an opportunity to not only focus on the differences but also similarities when marketing to women of all generations. Doing so can help build more successful marketing and content programs, as well as to create efficiencies across media and communication efforts.