It’s a well known fact that women make or influence over 85% of all consumer purchase decisions.
Online shopping is becoming more and more commonplace. It has been predicted that US online shoppers will double to 132 million in the next five years. With today's hectic schedules, people need a way to save time and shopping online is a way to do this. In a recent study, it was found that 19% of Internet users shop online once per week and this number is expected to continue to grow.
According to the US Census in 2000, women became a slight majority of Web users in the United States for the first time in history (51% female/49% male). Women make up almost half of first-time Web buyers. Women will continue to flock to the on-line platform that allows them to save time researching and buying.
Women represent an economic powerhouse, making over 85% of the consumer purchases (in the United States) and influencing over 95% of total goods and services. Women's consumer spending is $3.7 trillion and business spending is $1.5 trillion. Women also purchase 50% or better in traditional "male" categories like automobiles, consumer electronics, and PCs. Women are outperforming men in education and currently account for over 60% of start-up businesses.
In essence, women are three consumers in one: they are buying for themselves, they are buying for their families and in more and more cases, they are buying for business.
The female economy is enormous. Here are some more statistics:
•80% of apparel purchases (for men, women and children) are made by women
•52% of all new vehicle purchases are made by women (and 85% are influenced by women)
•40% of consumer electronics purchases are made by women (and 61% of purchases are influenced by women)
•70% of health care decisions are made by women
•70% of travel decisions are made by women
•90% of women participate in decisions that affect their household retirement and investment accounts
•20% of home purchases are made by single women (and 91% of all purchases are influenced by women)
•55% of all wine purchases are made by women
Selling on the Internet is a viable option to starting a home based business or enhancing an existing business because of the relatively low costs (if you do it smartly) and the wide geographical target market. The possibilities are endless.