Brazilian Women Control 66% of Brazilian Family Consumption

Posted by sophiamind on 02/06/2010 at 11:52

Category: Consumption | Tags: , , , ,

Sophia Mind survey reveals that women move R$ 1.3 trillion per year. Even so, 89% of those women interviewed state that they are unsatisfied with at least one segment of the product or service

Responsible for an annual consumption of U$ 20 trillion, a value more than two times higher than the markets of India and China put together, women are currently the world’s largest consumer market. Around here, they also occupy the top position when the topic is consumerism. A study conducted by the Bolsa de Mulher group market intelligence company Sophia Mind involving 1,917 women from five different regions of the country during the first quarter of 2010, revealed that they are responsible for the purchase decision of no less than 66% of everything consumed by Brazilian families. In other words, of the R$ 1.972 trillion spent each year on goods and services in the country, R$ 1.3 trillion are decided by women, a value that transforms Brazil into one of the world’s largest women’s markets. The study is part of the book “Powerful Consumers – What the New Brazilian Woman Wants and Thinks,” launched by Bolsa de Mulher in July.

“Administering a sum higher than their salary mass, Brazilian women do not just decide and buy directly, they also influence and control men’s spending,” aid Andiara Petterle, CEO of the Bolsa de Mulher Group. “And, besides their own income, they also manage the family budget as a whole.”

Markets – The Sophia Mind identified four market groups that together make up 79% of families’ total consumption – the other 21% refer to expenses that do not involve purchase decisions, such as taxes and public utilities like light, gas and water.

The first of these includes the segments in which women’s choices predominate. Specific products for women (clothing, beauty and personal care), products for the home (food, cleaning products and decoration) and goods and services associated with the education of their children are decided 83% of the time by women. Of this total, women control 93% of the expenses at beauty salons, 82% for family meals and 73% for the children’s education.

The second group includes the markets in which women’s participation is greater than men’s, including direct purchases (total control of the decision making process) and influence (part for which women are responsible for the decisions together with other members of the family). This category includes leisure and entertainment, health, family-related services (phone and Internet) and higher value expenses, such as home remodeling or the purchase of a household appliance, for example. Women control 67% of these markets. They are responsible for 66% of the expenses at restaurants and 63% of the expenses with health insurance plans and cellular phones.

The third group consists of the markets whose purchase decisions are balanced. This includes banking services and the purchase of electronic products. Women are responsible for 53% of expenses in this segment. They control 58% of the expenses with televisions, sound and DVDs and 51% of the expenses with men’s clothing and beverages.

The fourth and final group gathers the markets with lower female participation in purchase decisions. These are the services associated with the automobile sector, men’s personal care and the maintenance of domestic appliances. Women decide 36% of the total spent in the segment. Nevertheless, 43% of car purchase decisions are already controlled by them and 46% of the electronic and household appliance repair services as well.

Occupying the top three places in the ranking of main family expenses are the purchase of foods, maintenance of vehicles and eating out. Based on these figures, it is important to point out that the few markets in which men still have the stronghold in purchase decisions those in which family expenses are significant – as in the specific case of the automobile market. Even so, the survey shows that women are earning increasing space in sectors previously dominated by men, such as the purchase of automobiles and choice of financial services.

Women’s Dissatisfaction – In only a short period of time, women’s participation in the consumption of Brazilian families should grow significantly. However, despite representing the most important consumer market in the country, women are not happy with the products and services currently available to them. No less than 89.25% of women stated that they were dissatisfied with at least one product or service segment.

The health insurance plan (38%), fitness (29%) and financial service (28%) markets are indicated by them as the sectors that least understand women’s needs and are unable to serve them satisfactorily. Most complaints are associated with the offer of products and services that are not planned considering their needs, such as the lack of time and more efficient and attentive communication.

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