There is a saying that loosely goes: if you want something done right, ask a woman. Well, ecommerce must have called upon the fairer gender because the response has been excellent. According to recent studies, women are expected to soon surpass men in areas of social media-savvy, remaining connected and in online shopping.
Current research by Zmags indicates a “connected customer” today is a woman in her forties with an income around $60,000. She is very social on line and uses several internet connected devices as well as a PC or laptop. All of this equates to more women looking into products, sharing reviews and ultimately purchasing from brand names and online retailers.
Women who are of the Baby Boomer generation and even a bit younger are taking the buying experience completely into their own hands. According to a ZMags study, women between 35 and 54 are most active in mobile socialization. In other words, women love to exchange information with one another and they are doing so on merchant’s websites as well as with their friends and associates on social media sites. Women in this age group are often financially more secure, they are less inclined to make impulse purchases, and are more likely to research products before spending their hard earned money, and then share their knowledge of a product or service even after the purchase has been made. All of these reasons contribute to making women astute and trustworthy online shoppers.
Women Branching Out
In the categories of cars, electronics, luxury products and gadgets, there has been a rapid upsurge in female customers lately. These big ticket items are not primarily purchased by men anymore. Forty something women are flexing their consumer muscles and sharing their knowledge on social media sites. Brands, as well as businesses large and small, will need to be mindful of this sophisticated demographic in creating their marketing tools and messages moving forward in the world of ecommerce.
Boost to Business
Not to be lost on the bottom line, this information has become a force in small business ecommerce solutions. According to Aileen Lee on techcrunch.com, a new bunch of ecommerce companies, (which were started by women) such as Shoedazzle and Birch Box to name two, are increasing their revenue, and building their community fast through decisively harnessing the power and influence of the female consumer. The purchasing power of women is clearly tracked in these statistics measured by Gilt Groupe and listed on techcrunch. Sites like Zappos had $1 billion in revenue last year and Groupon had 760 million and 77% of their customers are female. Gilt Groupe had $500 million in projected revenue this year and report women are 70% of their customers and they drive 74% of revenue.
Consumers will always be motivated by saving money but recently it seems finding that deal has become more of a status symbol, as Trendwatching reports. Shoppers are increasingly using sites like Groupon, Living Social and Shop It To Me for the challenge and “perceived intelligence” of acquiring the deal. If bargain hunting equates with prestige and the female connected consumer is sharing her find, brands and online merchants will offer progressively more incentives and discounts to be had.
How It All Adds Up
In 2012 the use of mobile internet has significantly increased for shopping, downloading coupons and sharing on social media, this use is expected to surpass that of PCs and laptops quickly going into the new year. The connected consumer wants to take the reins of her shopping experience to a new level and engage with online retailers in real time. She will retain customer support, ask questions, share reviews and her insights and observations all while on the move, thereby making a big contribution to marketing content.
Women are driving ecommerce forward through connecting and sharing information online, and they are poised to make major and significant contributions to online marketing in a way that may well shape the future of internet shopping. This is truly the age of feminine power in the world of ecommerce!
About the Author: Melina Paris is a prolific writer whose articles about women’s issues, ecommerce and social media have been featured on numerous blogs.