Retail Dude

“Shopper’s stop BUT Women won’t…!”

For some it’s a hobby and a must for some. When they are happy, they shop… when they are sad, they shop even more. Shopping gives them a new focus and uplifts their moods. When real life can’t solve for them, “Retail Therapy” comes as a solution.

Financial freedom is one of the top priorities of Indian women, especially in the urban cities and with financial freedom comes the choice of leading a lifestyle that suits ones tastes and preferences. Women like to wear expensive jewellery, carry high-end gadgets and buy apparel and footwear that make them look good, feel comfortable and also exude their style statement in a subtle way.

Times have changed now and for the good. With factors like growing number of working women, changing fashion trends, rising information level and media exposure, and the foray of famous foreign brands in the Indian market, Indian women have become more conscious about the range of brands that should fill their wardrobes. They are more interested in benefits and features of the products. They want to know how the product can enhance their lifestyle or make their lives easier. They need time and space to make their choices (without forcing them to make quick choices). They need to know plenty of product information too, such as colors and styles, and a variety of options to make their shopping decisions easier. Most women like top-notch customer service, and nothing turns them off faster than difficulties with issues such as returns (so handle them with extra care).

Consumer shopping statistics reveal that women are responsible for 83 percent of all consumer purchases, including:

• 92 percent of home furnishings,
• 92 percent of vacations,
• 91 percent of all homes,
• 51 percent of all consumer electronics, and
• 60 percent of all car purchases (they actually influence 90 percent).

To capture the woman buyer you have to understand the woman psyche. Women live with a never-ending to-do list, and the pressure to get that list under control triggers stress. They have a different perception of value and at the top of their list are trust and respect, or they won’t buy. Women want you to help make their lives easier and to experience enjoyment in the buying process. Some key perspectives around women, trust and loyalty. Women believe:

• If I trust a brand I will recommend it-83-percent belief factor
• Selecting a brand I trust saves me time-75-percent belief factor
• Selecting a brand I trust makes my life easier-72-percent belief factor
• I am willing to pay more for brands I trust-70-percent belief factor

Marketers know that trust is central to loyalty for women. While advertising generates buzz, women generate talk and a lot of it. Women rule the checkbook and the credit cards, and they are having an impact on your business every day. It’s time to start considering what women want and how to capture this consumer group.

Satisfied female customers are much more likely to network (needless to say that) about your products. Women will share their experience with their friends (envy them to an extent that those envious women will buy that product in no time), and your sales will grow as the word spreads.

“Whoever said money can’t buy happiness simply didn’t know where to go shopping” - All Women on this earth

- Dipti

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