December 9, 2013
At first glance, us moms may not come off collectively as a group with massive financial influence. Admittedly, yoga pants, diaper bags, and a shirtful of spit-up don’t necessarily connote global economic domination (and really, who has time to put on a power suit chasing nuts like these two?). But don’t be fooled. En masse, the 85 million moms in the U.S. alone wield more fiscal weight than just about any other segment out there.
Think about it. Women are the primary decision-makers when it comes to consumer spending. They make about 85% of all household purchase decisions, and they’re even responsible for over 50% of the buying in traditionally male-centric genres like cars, electronics, and home improvement.
In fact, women are responsible for over $7 trillion in consumer and business spending in the U.S. alone—and over the next decade they’ll control two-thirds of all consumer wealth. And out of that exorbitant $7 trillion, a whopping $2.4 trillion comes from moms.
What does this mean for retailers? It means that you need to start getting serious about appealing to this rapidly growing market, lest you run the risk of getting picked last on the ecommerce playground. Our latest infographic reveals some key challenges moms face—and learn how to earn their loyalty by making their lives easier.
It’s time to show moms the value that we’re worth. Because ultimately, offering up the ideal on-the-go mobile experience to moms can be the difference between forming a long-standing relationship with women who have some serious power of the purse, and turning them off from your website before you can even give yourself a time out.