Men, Women Both Claim Budget Control

Marketers have long been told to focus on women because they make most purchasing decisions. Recently, studies and following media stories have said a shift has occurred, putting men more in control of household spending choices. However, both of these scenarios may be wrong.

Or, at least no one truly knows whom makes the decisions, as both men and women claim responsibility. In his “The Numbers Guy" column for the Wall Street Journal, Carl Bialik challenged the longstanding marketing adage that women control 80 percent or more of spending by researching where that figure came from. It turns out, no one really knows.

And, it’s most likely wrong, according to Bialik. He cites several recent studies that say men and women have equal say in household spending. An additional 2008 study from the Boston Consulting Group found 73 percent of women said they control purchasing decisions, but that same study found 61 percent of men said they control the purse strings.

So, both men and women claim they control the budget. Bialik said this may be due to the millions of adults who don’t like with other adults. Also, he added, two or more people are influencing purchasing decisions, or at least they think they can.

He also noted men spend more than women, making focus on women as the primary shoppers even more obsolete. The column cited a survey conducted by the Consumer Electronics Association that reported the average man said he spent $3 on consumer electronics for every $2 the average woman said she spent.

Unfortunately for advertisers, the news is that it marketing isn’t so cut and dry. They can’t just focus on women’s needs or what men want. Bialik wrote, “Researchers say so many judgments and emotions go into consumer purchases that it likely isn't possible to measure who makes which household spending decisions."

http://www.naturalproductsinsider.com/articles/2011/04/men-women-both-claim-budget-control.aspx

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