Women and their Love-Hate Relationship with Brands
July 6, 2016 § Leave a comment
New Research Study Will Be Revealed at Red Letter Day. Here’s a Preview.
Women have always had an ambiguous relationship with brands. Why? Women expect things that brands don’t deliver.
In at time, where marketers wax poetic about brand love, we are on a mission to find out what separates the famous love couple. Well, as they say, it’s complicated.
Brand Wise and Lipstick Economy just completed a study of 3,390 women representing the three most active buyer generations – Millennials, Generation X and Baby Boomers. We wanted to find out why 90% of women think brands don’t understand them.
And the results are fascinating. Women actually like to get information from brands. Only 13% of women are really annoyed at brands that are on social media. And more than 90% of women sign up for emails from brands.
Maybe women see shopping as part of their role in life. Women currently make 85% of all consumer purchases and they are the primary shopper for a myriad of expected categories like food and clothing. But women are the primary shopper of most categories, including 79% of healthcare decisions, 76% of travel and vacation decisions, 72% of housing decisions, 70% of restaurant decisions, 67% of financial decisions, and 53% of automotive decisions.
Our research shows that the biggest gap in this brand relationship tends to be over chronic issues: truth and accuracy, customer service, a realistic view of women, respect for women’s intelligence and an understanding of the multi-faceted lives women lead today.
I know this reads like a romance novel. The issues around trust run deep. Women expect deals, promotions, ideas and authenticity. So they seek out advice from their own experiences, friends and families and even online reviews.
To learn more about this research study and more ways that brands are hitting the market with women, sign up here for the Red Letter Day Marketing to Women Event, August 5 at Lipscomb University in Nashville, Tennessee.