It’s International Women’s Month, and the perfect time to highlight the power of women. Long gone is the age where ladies play second role to men in just about any aspect of modern-day living. One of the many aspects in our current lifestyle where women dominate is E-Commerce.
In an age long past, men ruled the E-commerce market. From books to electronics, males seem to rack up the numbers in purchasing power– that is– until online shopping became a massive trend. The moment online selling became a trend on social media, and started selling more products, women started to conquer ecommerce.
The Jane of E-Commerce
According to the website “girlpowermarketing.com”, women control over $31.8 trillion dollars in worldwide expenditures accounting over 85% of all consumer purchases. This ranges from homes, household necessities, and even traditional male products like automobiles, and electronics.
Statistics also say that around 80% of the female population purchase groceries for their household, while around 71% both shop, and do the house chores. What that primarily means is that women would always have first-hand experience on the needs of her family, and are more likely to purchase what’s needed. Let’s also add to the fact that women will also include an additional item on their list if they currently fancy a brand, or have seen the brand product in a particular store.
92% of women will also pass recommendations, deals, and offers to their friends and acquaintances should opportunities arise, clearly giving opportunities for businesses to thrive.
Another aspect to note as to why women are leading in the ecommerce trade is that they’re also more active in social media than men. Women over the age of 55 spend more time playing online games than young males around 15 to 24, and 56% of women are active social media users which is also where online sellers drive their products.
Dominating Through Purchase
Various factors come into play as to why women have power, and influence over online shopping. According to an online behavioral survey from “orderhive.com”, around 72% of women are more likely to purchase products online than their male counterparts.
Ladies also take longer shopping time as they tend to browse more products before they make a purchase. Women are also more likely to shop when there’s a sale, or they have a shopping coupon available, and that’s not all!
Unlike men who prefer to play games, or drink with their best buddies to improve their mood, women prefer online shopping to lift themselves up. All these factors, and behaviors are clear signs that online businesses should focus on their supply of the demands of the ruling gender in e-commerce– women!
Women Rule The Trade
So how can online businesses successfully meet the demands of women in ecommerce? Simple! Let women lead the trade! Only a woman can know what a lady truly wants so it’s high time for them to take the helm in the huge pyramid of Capitalism. Simply by supporting female-led business or ventures, or by creating products for women, a business can easily meet the needs of the more dominant gender in the market!
Companies should also diversify their workforce to let women play a more vital, decision-making role in their firm. Gender equity is more than just meeting a quota of equal parts men, and women, it’s about catering to the consumers’ needs as it trends, and as it stands, women currently rule the business trade.
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