New Study on Women overlooks a key factor

This is great study by Nielsen. It needs to be made clearer however that in most economies the woman is the key driver of the economy e.g. if 70% of our GDP is the consumer, then we know who is doing most of the buying, women! Well done ladies! But that’s a huge responsibility – now wonder you’re stressed:
Worldwide Women Are Achievers, Stressed, and Empowered

According to the Nielsen Women of Tomorrow Study, spanning 21 developed and emerging countries, women across the globe are achieving higher levels of education, joining the workforce in greater numbers and contributing more to the household income. But, they are pressured for time and feel stressed and overworked, reporting that a contributing factor in the higher stress levels in emerging markets is that there is little spare cash remaining after the basic essentials to spend on themselves or take vacations.

Among female respondents in emerging markets, women in India (87%), Mexico (74%) and Russia (69%) said they were most stressed/pressured for time; while among developed countries, women expressed feeling this pressure most in Spain (66%), France (65%) and Italy (64%).
“Women tell Nielsen they feel empowered to reach their goals and get what they want, but at the same time, this level of empowerment results in added stress,” said Susan Whiting, vice chair, Nielsen
Women’s control over spending decisions coupled with their gains across the working world and politics, point to women of tomorrow being in a position to exert more influence than ever, says the report.
Whiting says “Women are increasing their spending power, and with that they gain more control and influence over key household decisions. As a result the women of today and tomorrow are powerful consumers and understanding their spending, media habits and attitudes is critically important for marketers and advertisers.”
When asked how women expect to allocate additional money they earn or expect to earn over the next five years, differences emerge.
  • 56% of women in emerging countries said they plan to allocate funds for their children’s education, contrasted to 16% of women in developed countries
  • Women in Nigeria (85%), India (76%) and Malaysia (63%) gave the most importance to saving for their children’s education
Overall, developed market women said they plan to spend their extra money on
  • Vacations (58%)
  • Groceries (57%)
  • Savings or paying off credit cards/debts (55% each)
Emerging market women said they were
  • Looking to spend extra money on everyday essentials such as clothing (70%)
  • Groceries (68%)
  • And health and beauty items (53%)
In emerging markets, vacation ranked seventh among women, with 40% indicating they would spend extra money on it.
Across countries surveyed, women believe they have more opportunities than their mothers. Women in emerging markets believe their daughters will have even more opportunities than they did relative to their mothers. However, in developed countries, women surveyed believe their daughters will have the same opportunities, not more.
In developed countries
  •  40% of women surveyed believe their daughters will have greater financial stability
  • 54% believe their daughters will have a better education
  • 34% believe their daughters will be less likely to retire when they choose
  • 74% of female respondents in developed countries believe their daughters will have better access to technology
In emerging markets,
  • 80% of women surveyed believe their daughters will have greater financial stability
  • 83% believe their daughters will have a better education
  • 84% believe their daughters will have better access to technology
“While women in emerging markets see tremendous growth in the opportunities for their daughters, a plateau of hope is evident in developed countries,” said Whiting. Nielsen found that the number one place women across continents prefer to get information about new products is television. In 10 of 10 emerging markets and in seven of 11 developed countries analyzed, television outranked 14 other sources of information. In Germany and Spain word-of-mouth placed higher than television; in South Korea, Internet searches ranked highest; in Sweden, direct mail.
Word-of-mouth was listed as either the second or third choice in nine of 10 emerging markets and in eight of 11 developed markets. When it comes to getting information about stores, however, women surveyed in developed countries prefer word-of-mouth while women in emerging countries indicated they rely on TV.
“In emerging countries, the gap between TV and all other choices is significant, but in developed countries other media vehicles are increasing in importance, a critical marketing consideration when balancing strategic media plans,” notes Whiting.
The most important driver of brand loyalty in 20 of the 21 countries examined, across 12 factors and across generations, is quality. But the study found that the most important drivers to bring women into the store (for products such as food, beverages, health and beauty products, pharmaceuticals and electronics) was good value and quality products.
“Women (report) that quality, not price, drives long-term brand loyalty… marketers need to take note that long-term positioning must emphasize quality to earn her trust…”
The study reports that women talk 28% more and text 14% more than men every month, and are heavier users of social features of phones and visit more Internet community sites than men.
Social networking is a fundamental part of a woman’s day-to-day digital life, with 65 – 70% of active, online female users age 18 plus in developed markets such as Australia, France, Italy, South Korea and Brazil visiting the leading social networking site in their market. In the U.S., 73% of online women visit the leading social networks while in Germany, 50% visit.
Whiting suggests that “… to connect with women, strategies should be social and relevant…”
Comparing results of the Nielsen Women of Tomorrow Study to its Q1 Global Online Survey, the report says that:
  • Across 22 forms of advertising “recommendations from people you know” is by far the most trustworthy advertising source for women surveyed in developed countries, followed by branded websites in emerging countries and consumer online opinions in developed countries
  •  Women in emerging markets are more highly influenced by web ads shown on social media sites than those in developed countries
  • Women respondents in developed markets want shared responsibilities on all matters from child care to major purchases. In emerging markets, some traditional roles continue, yet there is a desire for shared responsibility
  •  Men in emerging countries are still viewed as the primary decision-making stakeholders when it comes to purchasing home electronics or cars, while women rule in the health and beauty department and all child care matters
  • Across countries surveyed, some traditional sentiments remain: 31% of both men and women believe that men are the best fit to hold political office, maintain workplace positions of authority (29%) and make major purchases (22%)
Whiting concludes that “… companies marketing to women and working to capture women’s attention must rely on informed insights rather than assumptions… “
For considerable additional details about this study, please visit here.

Author: Dean Crutchfield

Builds Brands and Fixes Them When Broken

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