The long-known fact that women make the majority of purchase decisions hasn’t changed, but the way they shop is changing. From a propensity to price-check on Amazon, all the way to an increasing reliance on the internet to make purchases, women have a different set of shopping expectations. Couple this with a keen social and cultural awareness meter and it’s clear that brands must step up in order to catch the eye -- and the handbag -- of today’s female shopper.
Doing good isn't good enough. It's no longer enough for brands to simply DO good; brands must BE good. This means thinking beyond basic philanthropy, and extending social responsibility in a way that will resonate. Women are striving to do good, be good and feel good about the choices they are making, and align with brands that do the same.
Instant is too slow. The Amazon effect has created an expectation that everything should happen faster and faster. Women expect brands to always be available and always on. Two-day delivery was too slow -- hence the birth of Prime Now. The challenge is how to respond to this trend. Brands need to find a balance between acting at the speed of light and also delivering the meaningful exchange that women desire.
Know me, love me and make it for me. Personalization at all levels is still important as women seek out things that are made, curated and reflect “me.” They expect brands to go beyond simple “wants” and to fit their lifestyles with a deeply personal twist. Consider subscription boxes like Wantables or Hello Fresh, filled with carefully curated items and delivered monthly. Achieving this kind of curation requires that brands know their shopper, what she loves, and her aspirations for who she wants to be and how she wants to live.
Shift from individual empowerment to collective power. Optimism and self-reliance dominate today’s female persona, as women seek to find their own voice by taking a stand together for their beliefs. Women not only believe that their voice matters, they are also seeing that this vocalization is making a difference. Brand can help women not only find their own personal confidence, but give them opportunities to provide input to create real change.
Versatility rules. No matter the product category, women want greater versatility. Products that can only do one thing are less valuable than those that can multitask. From wearable tech smart watches that monitor heart rate and send emails all the way to blouses that can be dressed up or down, everything has to work harder.