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Women’s Buying Power has Increased with Alterations in the Buying Pattern
Women have stepped into almost all walks of life. With increased exposure to various aspects of commercial world, their power and ability to spend has towered too. Women have not only come out of part time or low paying junior level jobs to acquire senior levels and generously paid jobs. They are also heading businesses single handed and successfully. This is attributed to the higher education that girls opt for. It’s a bare fact that the ratio of educated women is higher compared to the male counterparts. This has augmented in the unemployment ratio among the males.
The above essentials have changed the way women shop and spend their money. The corollary of this is many companies are marketing their products focusing on women and their buying activities. Since ages women spend more on personal and household products. Their ground was limited to grocery, clothing, jewelry and accessories. However, today their financial independence and heighten awareness have made them stride into areas where they only had a word to put forward, example the household equipments and gadgets.
Technology has altered the face of way women buy. Women today have come out of their age old love only for clothing and jewelry, though the love has not died down. They are buying products like Hi-tech mobile phones, IPods, laptops and even Hi-Fi gaming consoles.
When it comes to buying, women are more conscious of the brand now. Be it a mobile phone, IPods, clothes, accessories, women are buying more and more luxury items as they can afford it. They are just not lured by any discount deals available in the market. They know what they want and ready to pay more for the quality rather than bargain for a cheap bet. The biggest leap a woman has taken in the past decade is in buying cars and properties. Again a male dominated arena. More and more women are buying luxury sedans and SUVs. When it comes to properties and mortgages, we see an increased number of women taking the onus.
All though women are still indicted of spending more than their male counterparts, we have seen a changing trend in the way women invest, save and spend their money. Their penchant to pick and choose the best makes them a valued buyer.