A couple of determined authors believe they have an answer to the question of what women want. In a word, it appears women want more time. Kate Sayre and Michael Silverstein’s new book, Women Want More: How To Capture Your Share of the World’s Largest, Fastest-Growing Market, reveals the findings of an ongoing study conducted by The Boston Consulting Group.
A recent Reutersarticle discusses the findings from the study of over 12,000 women in 22 countries. The survey reveals that women are most interested in purchasing products that give them more time to do other things and are least interested in the items that take up too much time. Silverstein explains in an interview, "Women do not have enough time for themselves, they have too many demands on their time and they have conflicting priorities."
The market has already seen a dramatic increase in women consumers and will see even more growth as the number of working women worldwide is expected to increase from 1 billion to 1.2 billion in the next five years. The authors of the book warn businesses and corporations that if they have not already begun catering to women in the market (mainly their concerns with time) they had better start now or else they will suffer the consequences in their future sales.
Trader Joe’s, a grocery store chain, is one of the companies listed that have already seen the light and have begun catering to women with their time-saving precooked meals. Banana Republic also had women on their mind when they came up with standardized styles and fits for simpler and faster shopping.
According to the survey, financial services in particular is the least likely to cater to women. Women complained that financial service advisers and agents do not have women’s best interest in mind and often treat them poorly. Silverstein warns companies about the dangers of not picking up on what women want when he says, "If you’re one of the companies that picks this up first, you’ll win in your industry. If you’re one of the companies that picks this up last you’ll be shaking your head and not know what hit you."
What do you think of the findings of the survey about what women want?
Is time your biggest concern when it comes to purchasing products?
I think this survey is on target that women - and all people - want more time. Time and money, money and time. Hasn't it always been those 2 things?
msfriendly::
on Oct 22, 2009
I totally agree with jemappel...whenever you see what women want more of it's always time and money! (A good man doesn't hurt either!)
If I were to purchase those products I would want to make sure the food items are all natural and healthy. I still like to cook from scratch. I know what goes into the food and how it is cooked...and how clean the kitchen is.
I do like the idea that Banana Republic has about standardized styles and fits. I waste so much time shopping for clothes. I always have to try multiple sizes because they all fit so different.
Alyssarae92293::
on Oct 22, 2009
this is so true...who doesnt want all the time they need?
momagarry::
on Oct 23, 2009
Sounds like my kind of motto.
MommyReporter::
on Oct 23, 2009
I couldn't agree more... We all want more... more time, more money, more shoes... LOL I think this article is finally reflecting what "us women" have known for a long time.
JMaynard85::
on Oct 28, 2009
Also couldn't agree more, in this day in age there is so much put on women's shoulders that just having a few moments to oneself can be nothing short of heaven! Altho I will say that my husband would also wish for more time as well :)
jadedgrin::
on Oct 28, 2009
I would have to say this report is right on target. Not sure it's breaking news though : ) We've been telling companies this for years. It just took them this long to realize that the women in the households are the biggest influencers on purchases. I know I will look for the most time consuming 'anything' that will allow me more time with my family. However, I am not willing to pay a premium for it. I understand there is a cost to convenience, but it's usually easy to see when a company is taking advantage of convenience. Those companies or service providers will lose in the end.
basilandcatnip::
on Oct 31, 2009
I agree. There are good products out there that do what they say they will do with less work and time, takes time to find them though. And once you've found them, companies tend to change something you loved about the product shortly there after that messes it up. So hence the search begins again. One thing though, I won't sacrifie time savers with lower quality. (example pre-made meals, still need to have whole ingredients and no chemicals and fillers) And good customer service is alway a plus and rare to find these days. ...good to know about Banana Republic standard sizes, I will be checking them out.
joy9281::
on Nov 01, 2009
so true great insight ladies. Companies are making more money reaching out to women than any other group. Women do the majority of the shopping in most families.
TreasureCoupons::
on Nov 10, 2009
I agree 100%...when asked by my husband what I would like for a gift, or "what can I do for you today" I always tell him...I would like more time for me...
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