What Role Will Women Play In The Growth Of Ecommerce?
Posted: 14th February 2013
Ecommerce has revolutionised the way entrepreneurs do business and customers shop, and this exciting new frontier is rapidly evolving to encompass qualities that were beyond our imaginations just a decade ago. One thing you might not be aware of is the fact that women have played a huge role in the rapid expansion of ecommerce, and in a number of ways, and this will only continue into the future. What role will women play in the growth of ecommerce? Read on to find out.
Shopping and purchasing power. It is undeniable that female purchasing power is the number one promoter of growth in the ecommerce industry. Major shopping sites like Groupon, Chegg, Zappos, Gilt Group, Etsy, and Diapers report that females comprise roughly 70 percent of their consumer base! Of course, at first glance, this might seem to play into the stereotype that “women like to shop.” However, the implications go much deeper than that, to indicate that women are fast to embrace technology for the sake of added convenience. The United States Census Bureau sheds even more light on these numbers, reporting that the female population is responsible for overseeing 80 percent of all consumer spending. Not only are women smart shoppers, but they are controlling the purse strings.
Social media marketing
Not only do women constitute a considerable majority of the ecommerce consumer market, but they also account for a large majority of the population sector that makes use of social networks like Facebook, Twitter, Yelp, and Pinterest. What this means for ecommerce entrepreneurs is that women basically harness the power of influence when it comes to marketing by way of social media. Ecommerce businesses with a mind for success are those that are aware of the power of women when it comes to writing reviews and spreading the word.
Businesswomen in ecommerce
Any smart ecommerce entrepreneur knows by now that, in order to be successful in ecommerce, women must be catered to. Who better to cater to women than women? Recognizing this market need, female entrepreneurs are stepping up to the plate to meet the needs of women in the ecommerce market, and doing it well. Businesses like Modcloth, Zazzle, Rent the Runway, Plum District, One Kings Lane, and Shopkick are just a few example of female-run ecommerce businesses that target the female population, and with great success.
As you can see, women play an integral role in the growth and evolution of ecommerce. It is safe to say that ecommerce wouldn’t be anywhere near what it is today without the multifaceted involvement of women. Whether you are male or female, your ecommerce entrepreneurial success depends on your ability to cater to this powerful segment of the population.
About the Author: Starling Brus loves to build ecommerce sites and is always excited to work with new entrepreneurs, especially women with smart business ideas. You can read more here about building your own ecommerce site. Shoot for the stars!