A recent study by the Bolton Consulting Group (BCG), suggest that the world’s marketer’s have failed to impress women, who control two-thirds of the global consumption expenditure of $18 trillion.
Other finding of the study named ‘Women Want More’, which surveyed 15,000 women across the world including 5,000 in Asia are as follows:
- 40% of the respondents were unhappy with the marketing efforts in categories such as financial services, cars, banking, investments and life insurance.
- Time is the single biggest challenge for woman consumers in India and China, which was aggravated by responsibility for the vast majority of household chores
- They also consider the demands of time as their primary challenge, while the Japanese are more concerned about aging gracefully.
- Managing household and finances was top of the mind priority for Indian and Japanese women, but for Chinese women the greatest hassle was not having enough time for themselves.
However, what is interesting to see is that though women control two-thirds of the global consumption expenditure, the consumption power of women in China and India are just 50% and 44% respectively.
Original post in Business Line