As a child, I would always accompany my mother on her shopping expeditions. I was mesmerized by the way she shopped; a soft touch to the fabric, a gentle sniff of the masala, tugging with intension at a new duffle bag; she was poetry in motion. She would also be mindful of the price, longevity and purpose of every single product that would be purchased. Every shopping decision was a well thought-out move and almost always worked well for our family.
Much like my mother, the average Indian woman is a perceptive consumer, more so in today's age of information and choices. According to Global Mega Trends to 2030 report released by Frost & Sullivan, globally, women controlled more than $43 trillion consumer spending in 2020. Within a household, it is the women who do the maximum shopping. Household related items such as groceries, furniture, children's products, kitchenware and other luxury items are all chosen and finalized by the females in the family.
Of lates there has also been a rise in women consumers participating in purchase of big ticket items such as motor vehicles, electronics, financial products and others, a big factor in this evolution is the growing number of women joining the workforce. Currently, 25 percent of the Indian workforce is female. With the prevalence of information seeking on the Internet, availability of a plethora of e-Commerce platforms and a rise in women's aspirations, the female consumer is becoming more powerful than ever.
The pandemic only fuelled this growth and made them key decisions makers in various categories. According to a report, Demystifying Her Pre vs. Post Covid-19 Behaviour, conducted by DMC Insights, MomJunction and HerHQ Media, women's consumption pattern has changed in two categories, i.e. food and skincare products.
The last three years have seen Indian women create a more powerful role for themselves when it comes to household decisions & finances. While the consumption of groceries increased and so did the shopping online trend, more and more women consumers have taken-up the skincare trend. More than ever, Indian women are looking after their health and wellness.
It is about time that companies and brands wake up and cater to the needs of the female consumer. Brands that will be cognizant to what the female consumer wants and design their products & communication appropriately are sure to benefit.
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