Understanding your ideal audience, whether it’s made up of mostly men or women, and their specific buying habits is critical in business. But did you know that about 80% of all consumer purchases are made by women (Forbes 2019)? It’s something to consider when it comes to branding your product.
Women are often the buyers of products for themselves, but also for their families and their homes. They are the ones in stores, perusing aisles, or researching what to buy online… so it comes as no surprise that they are the ones dominating consumer purchases.
Even if you think that your product isn’t targeting women specifically, you may be surprised by the number of women purchasing it.
Use this example: A man is in need of new shave cream. His wife is aware of this, so the next time she’s at the store, she remembers to pick him up a bottle. His wife will most likely purchase the most appealing brand on the aisle or the brand she’s familiar with and trusts. Whereas, if the man had gone alone, he would most likely choose a bottle based on price or other more utilitarian reasons (i.e. it was the first one he spotted).
According to the Mediterranean Journal of Sciences (2017), men tend to use a more logic-based approach when shopping, whereas women tend to prefer an emotive shopping experience.
In other words, men like to go in, get what they need, and leave. They shop very matter-of-factly. On the other hand, brands that use a straight-to-the-point approach tend to fall flat and quickly become easily forgettable in the eyes of a woman. They prefer to create an emotional connection with a brand before purchasing.
What does this tell us about the importance of branding?
Well, we know that women are making a majority of all consumer purchases, and we know that women prefer companies that are able to connect with them on a more emotional level. We also know that branding helps to create an emotional connection with a consumer (after all, that’s really the entire point of branding). So, we can conclude that branding your business, whether you’re directly targeting women or not, will aid in upping your sales and connecting with your audience.
In my opinion, the only time this rule wouldn’t apply is if your company sells very matter-of-fact products or very specifically targets only men. For example, tools or hardware. I mean, a nail is a nail, there really isn’t much emotion you can pull from that. Although, I could argue you could draw on emotion as a tool brand — selling more of a story than a “better” product. But, again, that’s not often seen because it’s not often needed in a male-dominated market.
It’s also my opinion that companies that do very specifically target men but are selling a product that isn’t as matter-of-fact (and intrinsically touches on emotions regardless), such as hair loss, benefit from branding that plays up that emotional factor and draws men in on a more personal level. We see this in brands such as Hims.
Interested in reading more about the differences in purchasing decisions of men vs. women? Zoovu shares an interesting article here.
I’d love to get your opinion on this topic! Do you think branding is important solely for its power to persuade specifically women, who make the majority of consumer purchases? Leave your response in the comments below!