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Optimism was highest among African American and Hispanic women, especially when it came to how they viewed the opportunities they have had compared with those of their mothers. The optimism does not stop with the women of today: they are extremely positive about the outlook for the women of tomorrow their daughters and expect them to have more opportunities available to them than they themselves have now.
Not only is their optimism increasing but so too is their contribution to household income. African American and Hispanic women also said that increased earning power would enable them to contribute more to household income in the next five years, while a majority of Asian American and Caucasian women expected no change in how much they contribute.
Increasingly stressed
As women around the world have taken on more roles outside of the home, they have become increasingly stressed juggling various responsibilities. American women are no different. Asian American women felt the highest levels of stress, with more than half (58%) saying they often felt pressured for time, 46 percent saying they have no time to relax and 48 percent saying they felt stressed or overworked most of the time. These rates were far higher than those for women of other ethnicities. Marketers looking to reach the women of tomorrow should take heed: conveying messages of ease, convenience and making lives simpler is going to be essential to success.
Despite these high levels of stress, taking time off for a vacation is lower on the list of things women choose to spend any extra money they may have after covering expenses. Given the uncertain economic conditions, multicultural women are focused on the basics: groceries and financial matters. Paying off debts was a high priority for all, coming in first for African American and Hispanic women, second for Caucasian women and third for Asian American women. General savings also ranked highly among all groups.
In the U.S., however, there was no single category where women felt that men were the primary decision makers. Multicultural women tend to see themselves as the primary decision makers for purchases across many of the categories associated with running a household, but increasingly view the role of men as equal in some of these. Interestingly, Asian American and Caucasian women are more likely to include men in the purchase decision about food than were African American and Hispanic women.
For the women of today, media technology is not simply about entertainment; it is about making life better. Solid majorities of women across ethnicities said that computers, cell phones and smartphones improve their lives in meaningful ways. In fact, multicultural women in the U.S. had the highest penetration of smartphones than women in other developed countries as well as those in emerging markets. With the increasing importance of smartphones being as a vehicle to conduct commerce along with overall contracting consumer demand in the U.S., reaching this important segment of consumers represents a tremendous opportunity for marketers.
While TV may not be seen as improving their lives, American women tend to turn on the tube to get information about new products and services. African American, Hispanic and Caucasian women all said that TVs were their preferred media in that respect, while Asian American women turned to the Internet. Asian American women also preferred to get their information about new stores online, while Caucasian women used word of mouth. African American and Hispanic women again turned on the TV. All of this underscores the need to balance marketing between traditional and new media.
Getting women into the store, and keep them coming back
With the current uncertainty in the economy, consumers across the country have cut back their spending and the number of shopping trips they make. So it was surprising to find that price was not the key driver of foot traffic, but rather value. Value is more than price; it is a product or service that satisfies multiple need states, sometimes at a premium to similar goods. However, once in the store, prices become the key factor in purchase decisions.
Part of the concept of value is a products quality. Indeed, it was the top driver of brand loyalty in 20 of the 21 countries surveyed across generations of women. In marketing the holy grail is consumer loyalty. Clearly the way to establish loyalty is quality. Once todays woman finds a brand she likes, she tends to stick with it, reinforcing the need for manufacturers to win womens trust early on in their roles as household buyers. Quality wins!
Key Takeaways
Todays women in America are optimistic, with African Americans and Hispanics feeling more positive about their income. Stress is increasing as women struggle to juggle multiple roles, particularly among Asian American women. Marketers should highlight how products and services offer convenience, ease of use and time savings. Women are connected and believe media is making their lives better an increasingly important consideration as new media in particular are changing how commerce is conducted. Take advantage of higher smartphone penetration to reach multicultural women more effectively. Balance the use of traditional and new media: different segments prefer different media. Value messaging drives all women into the store. Price and promotion play a factor in the store. Quality keeps them coming back.
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