Acumen InsightsBlog

Women Gain Hold on America’s Purse Strings

By July 24, 2013 No Comments

Women have taken control the nation’s consumer wealth, flexing increasingly more spending muscle. Estimates of their purchasing prowess range from $5 trillion to $15 trillion annually, according to Nielsen.

 

“Women will control two-thirds of the consumer wealth in the U.S. over the next decade and be the beneficiaries of the largest transference of wealth in our country’s history—compelling insight for anyone curious about who’s keeping the U.S. economy going these days,” Nielsen reports.

 

While women continue to make everyday shopping decisions such as for groceries and clothing, they are also more likely to manage big-ticket purchases like homes, cars and appliances.

 

Female shopping trips are most important to the mass merchandiser and dollar store channels, while male shopping trips are of greater relative importance within convenience/gas, grocery and warehouse club outlets. Women spend more money per trip than men in all of the channels examined, but in many channels, the differences between the sexes are not as great as one might expect. Nevertheless, spending differences do indicate that women drive the larger stock-up or planned trips as they outspend males by $14.31 per trip in supercenters and by $10.32 per trip in grocery stores.

 

Here’s another trend: Women are watching more online and mobile video these days, especially TV-related genres. And while a greater number of women visit Netflix and Hulu, men still stream a greater number of videos overall on these sites—and thus watch more streaming ads.

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