Female Supremacy Articles - Page 11

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THEY’RE A SOURCE OF PROFIT

Turn your women customers into “Town Criers” for your business.

Story by Flintridge Consulting

Because women are as a whole more loyal and willing to pay for good service and quality, they make ideal customers for small businesses who often surpass their corporate competitors in these areas.

As consumers, women buy or influence at least 80 percent of all household spending. That includes 51 percent of consumer electronics and 75 percent of all over-the-counter drugs.

In the corporate arena, they are increasingly more visible as purchasing managers, an area long dominated by men. In fact, the number of female registrants at national purchasing shows has doubled over the past five years and is expected to double again by 2005.

A Huge Market

In the small business-to-small business venue, women also make up an important market segment. Estimates put the number of female owned business at 9.1 million generating $3.6 trillion in sales annually and employing 27.5 million people – more than all Fortune 500 companies combined—in America.

“Women represent a huge untapped market for most business owners, big and small,” explains Barbara G. Stanbridge, President of National Association of Women Business Owners (NAWBO). She argues that women, in particular, can make great customers for small businesses because they are very loyal and apt to let their friends know when they have found something worthwhile.