Mediatel’s Kimberli Lewis Highlights Female Purchasing Power at the Women’s Networking Receptio
April 19, 2010 | Contributed by: Stephanie Hobbs
The ladies of the YPA really look forward to the women’s networking reception each year at the annual conference, and this year’s gathering did not disappoint. Not only did the guests have a great occasion to network and hear updates from the women helping the industry to transform – but they were also treated to a fun and unexpected history lesson from Kimberli Lewis of Mediatel on the evolution of women’s purchasing power from the 18260 to present.
According to Lewis, women went from having no voice in their family’s day-to-day purchases the late 1800s to more voice in the 1920s during World War to becoming chief decision officers today – accounting for 85% of purchases.
“In Europe, our data shows us that three out of four women make the purchase in most households and 75% of those purchase are being made online,” she added.
Lewis argued that understanding the female approach to purchasing is a key to innovation.
“IYPs that integrate social media and brand-specific search functionality are essential,” she said. “They tap into two key insights: First, that 75% of online shoppers seek suggestions when making a purchase and second, that the average family mentions brands 90 times per week. This is the way consumers are operating and we need to adapt to that.”
Take notice, ladies: To better tap into the female purchasing cycle, Lewis suggested that more should be done to increase female executive leadership in the industry.
“If you want to know whether we are transforming, you have to ask who is leading the innovations in IYP platforms. Women make 85% of purchasing decisions – but represent only 18.2% of the CEOs in the industry globally.” An eye-opening number.
Special thanks are also owed to Lisa Mahoney of Century Interactive who led the annual raffle. A key prize among this year’s give-aways was a new iPad tablet… perfect to stay on top of the latest mobile innovations.