According to a report from Fona International, prepared by Kit Barmann, women represent the largest market opportunity in the world, according to Forbes magazine. Globally, they control $20 trillion in annual consumer spending. In the next five years, it is expected that this number will rise to nearly $30 trillion.
In the United States, women have enormous control, and it’s increasing. Reports range from $5-15 trillion, with Marketing Zeus citing sources that $7 trillion is contributed by women in the U.S. in consumer and business spending. Fleishman Hillard Inc. estimates that women will control two-thirds of the consumer wealth in the U.S. over the next 10 years.
Boomers led the way, attending college in large numbers, punching through the glass ceiling and demanding higher pay. So while Millennials are a focus for many marketers, when marketing to women don’t ignore the women who laid the groundwork. Marketing to women takes strategic planning that has longevity, adds a study by Forbes from Patricia Odell.
Read the entire article here courtesy of mediapost.com.
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