The recent recession has negatively affected many people, but things have slowly been bouncing back. According to a December 2010 report from Bank of America/Merrill Lynch, women’s earning power will recover from the recession much quicker than that of men. Here at FletcherPR, we’re firm believers in the power of the purse so we already knew that women make the majority of household spending decisions. But according to this report, the purchasing power of women will grow exponentially as they contribute more money to their households during these leaner economic times.
We know women account for over 85% of all consumer purchases, but here are some stats about the purchasing power of women and how the numbers are broken down in different categories.
Brands that don't think they can afford to creatively reach out to female consumers should think of it in terms of "can we afford not to?"
